The problem is waiting for plans from structural engineer and architect to draw before you can even pull permits, not to mention authorization pass from city just to demo property
1:41 - I wouldn't say that the cheapest bid are irresponsible contractors, they might finish the job in time but not in top notch manner. I'm sure people who are doing this business for a long time will agree that it is irrelevant how low or expensive the bid you choose. The most expensive bid could take your check and hit the 2 month cruise. Whats really important is the terms of the contract and knowing a big network of responsible contractors. If the contractor is delaying your job you can sue them for being irresponsible and not completing or simply and quickly remove them and replace with another contractor. Also putting 50% deposit for a new contractor you do not know is not a good idea, I would've put 25%. If the contractor did 50% of the work then it is great that you didn't loose money for that however it seems you do not want to use another contractor and simply stick with the irresponsible contractor who delayed you 4 months extra and pay the costs for it, I would've replaced the contractor if the job is delayed by 1 week, this means 1 week is the max expenses you would need to pay out of your pocket for time being delayed.
Yes I agree that the cheapest isn’t always the best. I usually deal with sub contractors directly and it has worked out well. In this case my normal guy got busy and was significantly higher then usually for a job this big because we have done similar projects like this. The key is once you find good contractors that you like and trust is keep using them for as long as you can. For example I’ve used the same roofer since 2018, same elextrician and a few others. But yes I don’t blame anyone but myself as I should have fired him early on. Sometimes when you have so many projects and no GC a things like this can happen if you are not 100% on top of things. Looking back I should of done a new build and I would of been better off. But at the end of the day we still did well on this one
Super helpful and informational video.
Thanks for the kind words and glad you got some helpful advice.
you are awesome
Thanks I am glad you got some value out of it
The problem is waiting for plans from structural engineer and architect to draw before you can even pull permits, not to mention authorization pass from city just to demo property
Yup exactly so many things that are not in our control.
Its looks pretty damn nice fixed up though I tell you that!
Yes is came out very nice and the family really liked it.
Thank you, good video!
Your welcome glad you got some value out of it.
1:41 - I wouldn't say that the cheapest bid are irresponsible contractors, they might finish the job in time but not in top notch manner. I'm sure people who are doing this business for a long time will agree that it is irrelevant how low or expensive the bid you choose. The most expensive bid could take your check and hit the 2 month cruise. Whats really important is the terms of the contract and knowing a big network of responsible contractors. If the contractor is delaying your job you can sue them for being irresponsible and not completing or simply and quickly remove them and replace with another contractor. Also putting 50% deposit for a new contractor you do not know is not a good idea, I would've put 25%. If the contractor did 50% of the work then it is great that you didn't loose money for that however it seems you do not want to use another contractor and simply stick with the irresponsible contractor who delayed you 4 months extra and pay the costs for it, I would've replaced the contractor if the job is delayed by 1 week, this means 1 week is the max expenses you would need to pay out of your pocket for time being delayed.
Yes I agree that the cheapest isn’t always the best. I usually deal with sub contractors directly and it has worked out well. In this case my normal guy got busy and was significantly higher then usually for a job this big because we have done similar projects like this. The key is once you find good contractors that you like and trust is keep using them for as long as you can. For example I’ve used the same roofer since 2018, same elextrician and a few others. But yes I don’t blame anyone but myself as I should have fired him early on. Sometimes when you have so many projects and no GC a things like this can happen if you are not 100% on top of things. Looking back I should of done a new build and I would of been better off. But at the end of the day we still did well on this one
I buying my first FD property next week
Awesome! What market are you in?