i HAVE A REHAB PROJECT THAT needs floor coverings,cabinet doors,new sheet rock hung all over,paint indoors ,eaves repaired,new roof,windows fixed,storm windows added,someone stole ac unit, trim outside needs painted and gutters falling down. How long would thisd tak eyou guys if you had workers lined up? 3 MONTHS? I wanted to figure overhead costs or get estimate.
3 months?!? Time IS money!
I always plan 6 months in holding costs. I learned that from Michael. At first I was in denial about it and thought I could move them faster, but that proved not to be the case and I am back to what he said.
Most of the time I can have a single family rehabbed in 30 to 60 days.
GooD LucK! :beer
6 months is a good estimate for holding costs but 3 months is way too long for the actual rehab. Even for a project home(complete rehab) I figure 5-6 weeks and sugar coats 3 weeks. You have to get them on the market since you don’t make a dime till you sell them.
ruready,
I am also in Fayetteville…sent you a PM
3 months for a rehab is about as fast as I can do one.
Maybe now, when the construction guys are out of work, one would go quicker because workers are more available.
Maybe if you do a lot of them, it could be faster, but what I run into is that the good workers are booked in advance. It’s a waste of money to hire workers who do poor quality work, don’t show up when scheduled, do damage, steal, or do work that has to be redone.
I just called my painter for an exterior paint job and got him with only 1 week’s wait. He says he is stil working steady, but doesn’t have jobs lined up for months in advance like he used to.
There is still a 5-6 week wait on some of the items I ordered. (oak flooring, odd size garage door). You can’t finish the rehab without the materials.
Your rehab is a fairly large project and I wouldnt expect to realistically be finished in less than 3 months, especially as a newbie. There are items that need to be ordered and unforseen problems that occur. Not to mention finding the best prices for things like shower glass doors, cabinets, hard wood flooring, tile, etc. Once youve done a few then you can expect to get it done in less time.