All Forum Posts by: Sam Alberry

Hey Kuba,

Thanks for the input I really appreciate it . 

Thanks for your input , the material mark up according to the contractor was not something he did , he was passing along his material savings in the estimate  . I am getting some more estimates but you could see where paying 14k for painting inside and out and installing a sink and toilet seemed a little excessive on a 974 Sq ft  house , but we will see . 

Jay ,

Thank you so much for taking the time to confirm what I thought . I was using your book when I did the estimate myself using high and low to give me a range which for me came out to a lot less than 26k.  I went back and re read the painting sections in your book to see if I missed anything but could not come up with anything I missed so hearing directly from you means a lot .  The toilet and sink we picked out was $199 and $79 respectively and he was putting everything out to pro bid and told me he did  not do the make up of material so when I saw 1600 I was taken aback a little . As far as the flooring I have done most of the tear out myself . He would just be tearing out the living room carpet but the bedrooms and kitchen and bathroom does not have much to do a few tiles I could not get up without a scrapper in the 2  bedrooms . 

I do have another contractor coming out today for an estimate so we will see how that goes . hopefully much better .  I have included a few photos that I had on my original post a few months ago

Thanks to everyone for their input .  to answer some of Patrick's questions first vinyl plank question is b/c the feedback I got from landlords up here and some contractors is when renting its the easiest to replace only sections of flooring instead of having to rip up the whole floor . Ya I thought the painting was very high also that's why I posted . I will look into some gutter companies in my area thank you for that thought . He would actually have the door swing in which I thought was a good ideal since we get so much snow that sometimes we cannot open the door this way the door can be opened and they could shovel themselves out . 

Greg I agree with you 26k was much higher than I anticipated and based on all the feedback I have received on this post and another post seems that my suspicions were correct . The house does not have a washer dryer hook up right now so the $500 was to provide the hookups and vent for Dryer . The only reason we provide washer and dryer is so the tenant will not be moving in and out a washer and dryer however in the lease it specifies they are responsible for all repairs and the set will not be replaced if they end up broke .

Hey Adam thanks for the reply : Thanks for reconfirming what I though about the interior paint . The reason I had for framing the opening in the cistern is liability of a child somehow falling into the cistern if I left it open I had contemplated removing the whole thing but that would be to expensive so that's the reason for that . Should I not be worried about the liability? the bedrooms floors had basically rugs in them with broken tiles underneath it. The toilet we picked out was $199 and the sink was a cheap $79 one so I thought $1600 was way high and he told me he put it out to pro bid with lowes and does not make up his material.

So here is my 1st SOW submitted to me . This is a contractor who fits the bill as far as the best practice of going to home depot or Lowes and finding a contractor who is there first thing in the morning I have received email communications as early as 4 in the morning he has 2 crews been in business for 20 years . I will admit though going through J Scotts book the estimate came in a little high I thought (and yes I looked at the high as well as the low) . I will admit I do not know the exact sq footage of the exterior but the interior is 974 sq feet . The SOW also missed putting in a washer and dryer hookup in the basement I believe he told me that would be $500 . The total estimate for the project was $26,555 he does want 50% up front for some of the work which would be $3,290.

I am interested in any feedback I could get. I did have the house assessed at 125k . I am trying to get a feel from all of you if you think the quote is in line .When I went through and figured out pricing I thought 15-20k for the whole thing and his estimate didn't include a new shower installed and a new Garage door that I need to have put in . When I include all that I am looking at 30k which is a little more than I felt I would be spending . I am just trying to obtain opinions on if I just miscalculated a little or if you all feel the same that it is just a little high especially all of the contractors out there .

Thanks everyone! have a great Day!

I am going to get a 2nd and 3rd SOW to see how it compares

Quote Submitted to Sam Alberry 402 Main St Glen Park, NY 13601.
SCOPE OF WORK:
Paint Existing Exterior Aluminum Siding

Scrape all loose and flaking paint and pressure wash exterior walls. Apply one coat of Valspar exterior latex primer and one coat Valspar Storm Coat white exterior paint.
Total Cost (Materials, Labor & Debris Removal)………………..…$6,060.00

Paint Exterior Foundation Masonry Block Walls

Scrape all loose and flaking paint and pressure wash block. Apply Dry Lok, white in color, two coats, as recommended by manufacturer as primer coat not required.
Total Cost (Materials, Labor & Debris Removal)………………..…$520.00
Payments to be made as follows: Deposit $260.00. Balance $260.00 due upon completion.

Install Exterior Rain Gutters & Rain Handler Louvered Rain Diverters

Install white vinyl gutters above the garage door and entry door into the garage. Gutters shall drain from front to back with a downspout and buried drainage pipe to daylight. Install 12’ white Rain Guard system to the right side eve location and two Rain Guard sections to the home’s left eve locations 18’ section and a 12’ section.
Total Cost (Materials, Labor & Debris Removal)………………..…$850.00

Install New Garage Entry Door & Pressure Treated Entry Landing

Install a new steel 9-lite left hand entry door for the garage egress to replace the existing door. Remove and replace the existing wood landing and replace with new pressure treated lumber and treating deck boards. Approximate size 5’- 0” x 2’- 4”. Replace one 4’x 8’ piece of 1” white Styrofoam board located on the interior wall between the garage door and entry door.
Total Cost (Materials, Labor & Debris Removal)………………..…$1,255.00

(installing a 32” door which requires re framing the opening and cutting away the aluminum siding to fit a wider door)

Paint Homes’ Interior Walls & Ceilings for Complete Coverage

Repair minor holes and cracks prior to painting and prime joint compound. Paint ceilings and walls, one coat coverage. Ceilings shall be Valspar flat white ceiling paint w/ primer. Walls shall be Valspar Signature latex satin paint w/ primer. Paint kitchen cabinet doors and exterior frames. Repair minor holes and cracks. Colors shall be as per customer’s selections .
Total Cost (Materials, Labor & Debris Removal)………………..…$6,525.00

Coat Basement Floor & Walls with Dry Lok (Partial and Full Wall Sections)

Coat entire basement floor, three partial walls, complete back wall and complete cistern walls with Dry Lok masonry wall waterproofing. Clean and prep walls, remove any loose existing coating.
Total Cost (Materials, Labor & Debris Removal)………………..…$2,400.00

Frame Cistern Wall to Floor Joists

Frame upon the existing concrete cistern wall with 2”x4” lumber to the bottom of the floor joists to enclose the entire cistern. Install osb plywood, prime & paint.
Total Cost (Materials, Labor & Debris Removal)………………..…$800.00

Install Vinyl Plank Floating Floor System

Demo existing floor finishes such as carpet and tile flooring. Prep floors as necessary for the installation of new flooring. Install Stain Master Vinyl plank floating floors to all rooms. Style and colors as per customer’s selections . Remove existing floor coverings to include carpets and tile.
Total Cost (Materials, Labor & Debris Removal)………………..…$5,350.00

Remove Existing Master Bedroom Closet Wall.

Remove framing and drywall of existing closet dividing wall. Install ceiling light and switch. Repair wall and ceiling drywall.
Total Cost (Materials, Labor & Debris Removal)………………..…$650.00

Install New Bathroom Toilet & Pedestal Sink
Remove existing toilet and sink. Remove the piece of plywood from under the toilet and *inspect subfloor around toilet floor drain. Install new toilet, wax seal and water supply line. Install new pedestal sink, new supply lines and drain kit. Install new exhaust/fan to include electrical and exhaust. Install new switches and GFCI receptacle.
Total Cost (Materials, Labor & Debris Removal)………………..…$1,645.00

* Inspect sub floor after toilet removal for sub floor deterioration. If deteriorated sub floor is found and requires replacement the materials & labor shall be charged at a rate of $35.00 per hour plus material costs.

Replace Existing Electrical Receptacles, Switches & Covers

Remove and replace all existing electrical fixtures and replace with new 15 amp with new plate covers.
Total Cost (Materials, Labor & Debris Removal)………………..…$300.00

All Work Guaranteed For One Year From Date Of Completion

So here is my 1st SOW submitted to me . This is a contractor who fits the bill as far as the best practice of going to home depot or Lowes and finding a contractor who is there first thing in the morning I have received email communications as early as 4 in the morning he has 2 crews been in business for 20 years . I will admit though going through J Scotts book the estimate came in a little high I thought (and yes I looked at the high as well as the low) . I will admit I do not know the exact sq footage of the exterior but the interior is listed at 974 sq feet . The SOW also missed putting in a washer and dryer hookup in the basement I believe he told me that would be $500 . The total estimate for the project was $26,555 he does want 50% up front for some of the work which would be $3,290.

I am interested in any feedback I could get. I did have the house assessed at 125k . I am trying to get a feel from all of you if you think the quote is in line .When I went through and figured out pricing I thought 15-20k for the whole thing and his estimate  didn't include a new shower installed and a new Garage door that I need to have put in . When I include all that I am looking at 30k which is a little more than I felt I would be spending . I am just trying to obtain opinions on if I just miscalculated a little or if you all feel the same that it is just a little high especially all of the contractors out there . 

Thanks everyone! have a great Day!

I am going to get a 2nd and 3rd SOW to see how it compares 

Quote Submitted to Sam Alberry 402 Main St Glen Park, NY 13601.
SCOPE OF WORK:
Paint Existing Exterior Aluminum Siding

Scrape all loose and flaking paint and pressure wash exterior walls. Apply one coat of Valspar exterior latex primer and one coat Valspar Storm Coat white exterior paint.
Total Cost (Materials, Labor & Debris Removal)………………..…$6,060.00

Paint Exterior Foundation Masonry Block Walls

Scrape all loose and flaking paint and pressure wash block. Apply Dry Lok, white in color, two coats, as recommended by manufacturer as primer coat not required.
Total Cost (Materials, Labor & Debris Removal)………………..…$520.00
Payments to be made as follows: Deposit $260.00. Balance $260.00 due upon completion.

Install Exterior Rain Gutters & Rain Handler Louvered Rain Diverters

Install white vinyl gutters above the garage door and entry door into the garage. Gutters shall drain from front to back with a downspout and buried drainage pipe to daylight. Install 12’ white Rain Guard system to the right side eve location and two Rain Guard sections to the home’s left eve locations 18’ section and a 12’ section.
Total Cost (Materials, Labor & Debris Removal)………………..…$850.00

Install New Garage Entry Door & Pressure Treated Entry Landing

Install a new steel 9-lite left hand entry door for the garage egress to replace the existing door. Remove and replace the existing wood landing and replace with new pressure treated lumber and treating deck boards. Approximate size 5’- 0” x 2’- 4”. Replace one 4’x 8’ piece of 1” white Styrofoam board located on the interior wall between the garage door and entry door.
Total Cost (Materials, Labor & Debris Removal)………………..…$1,255.00

(installing a 32” door which requires re framing the opening and cutting away the aluminum siding to fit a wider door)

Paint Homes’ Interior Walls & Ceilings for Complete Coverage

Repair minor holes and cracks prior to painting and prime joint compound. Paint ceilings and walls, one coat coverage. Ceilings shall be Valspar flat white ceiling paint w/ primer. Walls shall be Valspar Signature latex satin paint w/ primer. Paint kitchen cabinet doors and exterior frames. Repair minor holes and cracks. Colors shall be as per customer’s selections .
Total Cost (Materials, Labor & Debris Removal)………………..…$6,525.00

Coat Basement Floor & Walls with Dry Lok (Partial and Full Wall Sections)

Coat entire basement floor, three partial walls, complete back wall and complete cistern walls with Dry Lok masonry wall waterproofing. Clean and prep walls, remove any loose existing coating.
Total Cost (Materials, Labor & Debris Removal)………………..…$2,400.00

Frame Cistern Wall to Floor Joists

Frame upon the existing concrete cistern wall with 2”x4” lumber to the bottom of the floor joists to enclose the entire cistern. Install osb plywood, prime & paint.
Total Cost (Materials, Labor & Debris Removal)………………..…$800.00

Install Vinyl Plank Floating Floor System

Demo existing floor finishes such as carpet and tile flooring. Prep floors as necessary for the installation of new flooring. Install Stain Master Vinyl plank floating floors to all rooms. Style and colors as per customer’s selections . Remove existing floor coverings to include carpets and tile.
Total Cost (Materials, Labor & Debris Removal)………………..…$5,350.00

Remove Existing Master Bedroom Closet Wall.

Remove framing and drywall of existing closet dividing wall. Install ceiling light and switch. Repair wall and ceiling drywall.
Total Cost (Materials, Labor & Debris Removal)………………..…$650.00

Install New Bathroom Toilet & Pedestal Sink
Remove existing toilet and sink. Remove the piece of plywood from under the toilet and *inspect subfloor around toilet floor drain. Install new toilet, wax seal and water supply line. Install new pedestal sink, new supply lines and drain kit. Install new exhaust/fan to include electrical and exhaust. Install new switches and GFCI receptacle.
Total Cost (Materials, Labor & Debris Removal)………………..…$1,645.00

* Inspect sub floor after toilet removal for sub floor deterioration. If deteriorated sub floor is found and requires replacement the materials & labor shall be charged at a rate of $35.00 per hour plus material costs.

Replace Existing Electrical Receptacles, Switches & Covers

Remove and replace all existing electrical fixtures and replace with new 15 amp with new plate covers.
Total Cost (Materials, Labor & Debris Removal)………………..…$300.00

All Work Guaranteed For One Year From Date Of Completion

Hey Jim,

Thanks for reaching out .  I am sure you are exactly who you say you are but this being your 1st post and no picture or website to confirm who you are I hope you understand my hesitation to engage in a business discussion with you . 

Again I absolutely me no offense to you at all and maybe we could do something in the future but I have a saying I have used my whole career that is trust but verify. 

Thanks Jay I will take a look locally

Hey Elvin thank you so much for your reply . As I stated I do not live in either house and while I may be green in investing per say I have done multiple real estate transactions having 3 properties and a camp in my name right now all in very positive equity position . I am looking to hold onto a property I already own free and clear so its technically not a buy and hold just a hold in this case the buying has already been done .

The reason for my looking for private money because I just left a well paying corporate job to start this endeavor .The error I made was not securing a home equity loan prior to moving on from my job.

I am looking to build a relationship hopefully with a private money lender . 

I am in the middle of getting my llc and just starting my own business , but the rehab money I need is for 2 homes I already own . With the plan for next year to purchase another rental and a fix and flip  . 

one home I own free and clear and am looking for 30 k for rehabbing with the intent to rent . arv is 120k .

the second home is going to be a remodel and sell I currently owe 35k on the home arv is $130k project will cost between 30-40k

looking for a total of 60-70k. I do not live in either home

I am seeking working capital basically to get me started . I am looking for a 12 month loan preferably interest only payments or line of credit .

Great credit score (800+) , very good assets , no w2(which is why I am here).

Please let me know if their is anyone who could help me with these 2 projects .