All Forum Posts by: Whitney Rekowski

@Nick L. I wouldn't say we are 'over improving' with putting high quality finishes, just making clean apartments where tenants want to stay long term. Good point though. 

@Brandon Stevens Great advice. I think this might just be the push for us to start contracting out tasks. It will just take some learning on how to juggle various project timelines that rely on each other

@Bill Parsons Do you have a sample contract you've used in the past I could reference? I will definitely start with 2-3 quotes for each job and see where the prices average out. I have heard too many bad outcomes of "going with the lowest bid" and will try to avoid. 

@Manolo D. Thanks Manolo, I agree we will subcontract and just have to change our typical schedule to meet the crews onsite for clear communication 

@Account Closed Luckily this isn't our first rehab and rent property, and we very well could do it all ourselves again. I just need to validate that hiring professionals to finish these units faster will in the long run be more profitable. 

Carrying costs are low on this property and one unit rented will cover most of the bills. Hence the lack of urgency in my husband's plan. I think I'll start with getting a few quotes from some contractors and draft up a business plan showing the value of acting sooner rather than later. Thanks!

What is the best way to analyze if it is worth doing renovations yourself or if you should hire a contractor?

If you choose to hire contractors, what’s the best way you’ve found and determined they are quality and reliable?

Here is the situation: My husband and I are the main people working on our flip and rent apartments. We do this on the side of our full time W2s. We are about to acquire another destressed multifamily , but won’t be able to tackle the project for a few months. I see as many thousands lost in potential rental income.

My husband is very particular about the quality of work, and is concerned contractors will be expensive or not meet his standards. We mainly do our own work because a shortage of liquid capital, but also because we haven’t found reliable contractors.

If we do hire contractors, should we tackle each of the apartments all at once or one unit at a time. If we do one at a time, we can use the money when one is rented to roll into the next renovation.

The scope of work is basically window replacement, minor roof patching, drywall patching, texturing, painting and flooring. If you have any suggestions on contractors in the Milwaukee area, recommendations are appreciated.

Thanks and have a great day!