rennovation costs - Posted by Jen

Posted by Jim FL on September 04, 2002 at 16:05:52:

First, I’m not a full time rehabber, in fact, quite the opposite.
I don’t generally do them, unless the deal is VERY SWEET.
So I am sure that some real full time rehabbers will chime in here.

However, on the few that I have done, some advice that another investor/rehabber gave me really made sense.
He said, “Jim, you don’t always want the guy who does the job for the least amount of money.”
He advised me to check references, insurance, past jobs, what projects the contractors had going now, and to make sure not to pay anyone very much at all until the job was complete.
Get everything in writing, with a time line for completion, leaving the majority of the pay until the job was done.
He also advised me to go along with the contractors to buy materials, and control the cost there.

I used to have a handyman who worked for me on my properties for $10/hr, he was GREAT.
Another one who offered to work for $7.50/hr was a total waste…I tried him ONCE and he failed me miserably.

Perhaps talk to some other rehabbers in your area, and go to your local investors club.
Getting references is always a very good idea.
And be sure to get workers who are licensed for those things that require it. (Another mistake I learned the hard way.)

Good luck, and I hope some rehabbers give you some input as well.

Jim FL

rennovation costs - Posted by Jen

Posted by Jen on September 04, 2002 at 14:04:53:

My husband and I buy houses, rennovate them, and sell them on lease option. We are trying to establish fair prices to pay the handyman service we are working with. Can anyone give me some estimations on what you pay for the following items:
paint - cost / sq ft.,
windows - cost / unit
bathroom items: vanity, toilet, ect. - cost / unit
roof - cost / square
siding - cost / square
cupboards - cost / unit
general hourly rate for handyman services.

We don’t need the cost including the items only the cost of labor.


Re: rennovation costs - Posted by mike f (ia)

Posted by mike f (ia) on September 05, 2002 at 24:09:14:

Here are the prices: these are midwest iowa prices, so adjust accordingly… This is builder rate for new construction, so you should be able to find guys pretty close to this

paint: 1.65 square foot (includes materials)

windows: standard $100.00 per unit

Bathroom remodel complete: 3800.00 …tub,vanity,labor

Roofing: 175.00 per sq., tear off reshingle, materials

Siding: vinyl, 65.00 per square, concrete 75.00 square

soffits: 1.50 per lineal foot,
fascias: 1.50 per lineal foot

trim house: 1.00 to 1.25 per foot

doors 35 to 50 per door interior

cabinets 35 to 50 dollars per box cabinet

crown moulding on cieling 75 - 150 per room

handy man average per hour rate 30.00 per hour

Hope that helps you in your take offs

mike foust

timberline builders inc.

Re: rennovation costs - Posted by jeff

Posted by jeff on September 04, 2002 at 19:16:31:

on the way

ive mailed you a copy of bronchicks worksheet from his flipping book. ive altered it to fit my needs some and im sure youll need to do the same for yuor area and rehab extents.