All Forum Posts by: Ryan Poske

@Ryan Kawash

I can't speak for your contractor's supplier for the kitchen cabinets but I can tell you that one of our major suppliers for cabinets is taking 4-6 weeks to fill and deliver orders right now. Prior to Covid, they were filling orders in 10 business days. I would ask for proof that they were ordered and proof the date they were ordered.

@Raian Huq

Hi Raian,

I am based in Indianapolis and invest in Indy. Would love to talk. Feel free to reach out anytime.

Ryan

@Ian Kisbert

A contractor should inspect the property before you place your bid. With that being said, I have been involved or seen many deals that require a signed purchase agreement before they allow an inspection. I am always skeptical and cautious when a seller will not allow an inspection without a signed PA. If that is the situation, make sure there are inspection contingencies in the contract so you can walk away if the numbers do not work. I would also be careful if they require a non-refundable deposit. Make sure the contract contingencies have language that allow you to get your EMD back. Most of these deals are non-MLS and are wholesaler properties.

I would recommend sharing the inspection report with the contractor. If you have an inspection report before a contractor can inspect the property, I recommend sharing it with them prior to them going to the property. That will give them more insight.

@Eric Perez

Replacing the sewer line. I highly recommend doing a sewer scope prior to buying a property. In Indianapolis, depending on the age of the house and the area, you many times have to do a new sewer lateral tap into the main line. This will throw a rehab budget out the window quick.

In addition to sewer lines, also in areas in Indianapolis, if you make any repairs/changes to the main water line into the house and it is an older house (50+ years) Citizen's Energy will require you to run new water main connection as well. It is their way of passing on the cost of upgrading old lead lines on to the owner.

New sewer and water lateral can be anywhere between $12k-$20k.

@Carter Holzer

Welcome! Would be more than happy to connect. Feel free to message me anytime.

@Danny Garrett

Send me a message. I have a great plumber that specializes in sewer line replacement/repair.

@Lior Golan

We have a standard format we require estimates to be in. Send me a message and I would be more than happy to email you an example.

@Larry Wilson

Would be more than happy to share contacts with you. Are your investment properties rentals that need rehab after a tenant moves out or are these distressed properties that need rehab to make either rent ready or fix-n-flip ready for market?

@Lior Golan

Most contractors don't provide a labor and material break out estimate. Why? In my opinion there are several reasons. Writing a detailed line item estimate takes time and most contractors don't want to spend the time writing a detailed estimate if they don't think they are getting the project. 

A lot of contractors do not utilize an estimating software to make it easier to provide a line item estimate. We see estimates frequently that are just a paragraph with a total price. Without a detailed estimate there are too many assumptions that can be made. For example, you may have thought the estimate included granite countertops but the contractor priced it out for laminate countertops. Now the contractor is going to tell you that is going to cost more or submit a change order for the cost difference between laminate and granite countertops. 

A contractor has to mark up materials to be able to make a profit on the job. It is extremely difficult for a general contractor to make any money on their labor only. That being said, the contractor should be able to give you a material allowance for items, such as $x dollars for kitchen faucet or $x per square foot for carpet, etc...

@Michael Manchester

It is now. It is Citizen's Energy way of updating the infrastructure and passing the cost on. We have even had to run new water laterals on rehabs if we "disturb" more than I think it is 3 feet of the water main connection.