Advice with upgrading an old house

[an]

[quote=Nor-LA-SD-guy]An old house that needs repair in TV would more than likely only be worth about 100K (even on acreage these day’s) then it would still even after fixing only be worth maybe 150K (it still an old house).

You can find a really really nice new built after 2000 maybe 3000 sqf to 4000 sqf place 10 foot ceilings upstairs and down etc… (I have seen some on acreage even) for about 250K to 350K.

But it’s up to you (I just like the newer ones in TV, to live in anyway)[/quote]
I just assume there’s a reason why he just bought this fixer w/ these projects in mind. If he had an option to get a much nicer house for $100k more when the things he need to have done would cost him $50k, he would probably have bought the much bigger and nicer house. However, if he have that option, then I totally agree with you, sell it and buy the nicer house. I’m doing exactly what he has planned. If I want a brand new house (same size house w/ same size lot) w/ all the upgrades and is w/in 10-15 minute drive to work, I’d have to pay at least $300k more.

[EconProf]

Couple of suggestions:
Chose designs, colors, materials that the MARKET wants–not too personalized or off-beat. Even if you are not flipping it, you will some day sell it and if you stray too far from the bland, your price will suffer for it.
Prepare to really shop for sub-contractors in this market. They are all hurting and are really ready to make a deal and deliver quality nowadays. Nothing like 4 years ago when they were all super busy, charged outrageous prices, and made you feel like they were doing you a favor just to return their calls.

[EconProf]

Couple of suggestions:
Chose designs, colors, materials that the MARKET wants–not too personalized or off-beat. Even if you are not flipping it, you will some day sell it and if you stray too far from the bland, your price will suffer for it.
Prepare to really shop for sub-contractors in this market. They are all hurting and are really ready to make a deal and deliver quality nowadays. Nothing like 4 years ago when they were all super busy, charged outrageous prices, and made you feel like they were doing you a favor just to return their calls.

[EconProf]

Couple of suggestions:
Chose designs, colors, materials that the MARKET wants–not too personalized or off-beat. Even if you are not flipping it, you will some day sell it and if you stray too far from the bland, your price will suffer for it.
Prepare to really shop for sub-contractors in this market. They are all hurting and are really ready to make a deal and deliver quality nowadays. Nothing like 4 years ago when they were all super busy, charged outrageous prices, and made you feel like they were doing you a favor just to return their calls.

[EconProf]

Couple of suggestions:
Chose designs, colors, materials that the MARKET wants–not too personalized or off-beat. Even if you are not flipping it, you will some day sell it and if you stray too far from the bland, your price will suffer for it.
Prepare to really shop for sub-contractors in this market. They are all hurting and are really ready to make a deal and deliver quality nowadays. Nothing like 4 years ago when they were all super busy, charged outrageous prices, and made you feel like they were doing you a favor just to return their calls.

[EconProf]

Couple of suggestions:
Chose designs, colors, materials that the MARKET wants–not too personalized or off-beat. Even if you are not flipping it, you will some day sell it and if you stray too far from the bland, your price will suffer for it.
Prepare to really shop for sub-contractors in this market. They are all hurting and are really ready to make a deal and deliver quality nowadays. Nothing like 4 years ago when they were all super busy, charged outrageous prices, and made you feel like they were doing you a favor just to return their calls.

[Allan from Fallbrook]

You don’t need a GC, but, if you’re planning on being one, get ready to burn some significant time.

Buy a copy of Microsoft Project and run the Critical Path yourself (coordination of individual projects within the master project, how long, how much, etc). Figure out a gross budget, in terms of both time and money. Double that.

After you Critical Path, line out and layout the project yourself (as best you can) and then contact the individual subs and get estimates based on T&M (time and materials). See if they’ll also give you a NTE (not-to-exceed) amount as well. Demand a budget from each with a man hour/man day breakdown for Labor and then agree (in writing) as to the acceptable markup for needed Materials.

Follow UCGal’s advice to the letter. Yeah, this is a tough market, but you’re still vulnerable to ripoff artists, especially with how tough this market is.

Make sure all insurance, including General Liability, Auto and Workmans’ Comp is paid up, and be aware of any and all contingent/vicarious liability issues prior to project start (i.e. postman taking a header because plumbing crew left excess pipe on your walkway, or a worker from the carpentry crew backed into your neighbor’s car). Walk your property and find a good lay down area for materials, dumpster, and fab.

Make sure everything is in writing. Make sure subs are using AGC or AIA approved short-form or long-form contracts (you can Google this, as well as contact your local AGC office). To truly cover your ass, you might want to hire an attorney experienced in construction law and have him verify that everything is in place and there are no glaring issues in either insurance or contracts.

Buy a dime bag.

[Allan from Fallbrook]

You don’t need a GC, but, if you’re planning on being one, get ready to burn some significant time.

Buy a copy of Microsoft Project and run the Critical Path yourself (coordination of individual projects within the master project, how long, how much, etc). Figure out a gross budget, in terms of both time and money. Double that.

After you Critical Path, line out and layout the project yourself (as best you can) and then contact the individual subs and get estimates based on T&M (time and materials). See if they’ll also give you a NTE (not-to-exceed) amount as well. Demand a budget from each with a man hour/man day breakdown for Labor and then agree (in writing) as to the acceptable markup for needed Materials.

Follow UCGal’s advice to the letter. Yeah, this is a tough market, but you’re still vulnerable to ripoff artists, especially with how tough this market is.

Make sure all insurance, including General Liability, Auto and Workmans’ Comp is paid up, and be aware of any and all contingent/vicarious liability issues prior to project start (i.e. postman taking a header because plumbing crew left excess pipe on your walkway, or a worker from the carpentry crew backed into your neighbor’s car). Walk your property and find a good lay down area for materials, dumpster, and fab.

Make sure everything is in writing. Make sure subs are using AGC or AIA approved short-form or long-form contracts (you can Google this, as well as contact your local AGC office). To truly cover your ass, you might want to hire an attorney experienced in construction law and have him verify that everything is in place and there are no glaring issues in either insurance or contracts.

Buy a dime bag.

[Allan from Fallbrook]

You don’t need a GC, but, if you’re planning on being one, get ready to burn some significant time.

Buy a copy of Microsoft Project and run the Critical Path yourself (coordination of individual projects within the master project, how long, how much, etc). Figure out a gross budget, in terms of both time and money. Double that.

After you Critical Path, line out and layout the project yourself (as best you can) and then contact the individual subs and get estimates based on T&M (time and materials). See if they’ll also give you a NTE (not-to-exceed) amount as well. Demand a budget from each with a man hour/man day breakdown for Labor and then agree (in writing) as to the acceptable markup for needed Materials.

Follow UCGal’s advice to the letter. Yeah, this is a tough market, but you’re still vulnerable to ripoff artists, especially with how tough this market is.

Make sure all insurance, including General Liability, Auto and Workmans’ Comp is paid up, and be aware of any and all contingent/vicarious liability issues prior to project start (i.e. postman taking a header because plumbing crew left excess pipe on your walkway, or a worker from the carpentry crew backed into your neighbor’s car). Walk your property and find a good lay down area for materials, dumpster, and fab.

Make sure everything is in writing. Make sure subs are using AGC or AIA approved short-form or long-form contracts (you can Google this, as well as contact your local AGC office). To truly cover your ass, you might want to hire an attorney experienced in construction law and have him verify that everything is in place and there are no glaring issues in either insurance or contracts.

Buy a dime bag.

[Allan from Fallbrook]

You don’t need a GC, but, if you’re planning on being one, get ready to burn some significant time.

Buy a copy of Microsoft Project and run the Critical Path yourself (coordination of individual projects within the master project, how long, how much, etc). Figure out a gross budget, in terms of both time and money. Double that.

After you Critical Path, line out and layout the project yourself (as best you can) and then contact the individual subs and get estimates based on T&M (time and materials). See if they’ll also give you a NTE (not-to-exceed) amount as well. Demand a budget from each with a man hour/man day breakdown for Labor and then agree (in writing) as to the acceptable markup for needed Materials.

Follow UCGal’s advice to the letter. Yeah, this is a tough market, but you’re still vulnerable to ripoff artists, especially with how tough this market is.

Make sure all insurance, including General Liability, Auto and Workmans’ Comp is paid up, and be aware of any and all contingent/vicarious liability issues prior to project start (i.e. postman taking a header because plumbing crew left excess pipe on your walkway, or a worker from the carpentry crew backed into your neighbor’s car). Walk your property and find a good lay down area for materials, dumpster, and fab.

Make sure everything is in writing. Make sure subs are using AGC or AIA approved short-form or long-form contracts (you can Google this, as well as contact your local AGC office). To truly cover your ass, you might want to hire an attorney experienced in construction law and have him verify that everything is in place and there are no glaring issues in either insurance or contracts.

Buy a dime bag.

[Allan from Fallbrook]

You don’t need a GC, but, if you’re planning on being one, get ready to burn some significant time.

Buy a copy of Microsoft Project and run the Critical Path yourself (coordination of individual projects within the master project, how long, how much, etc). Figure out a gross budget, in terms of both time and money. Double that.

After you Critical Path, line out and layout the project yourself (as best you can) and then contact the individual subs and get estimates based on T&M (time and materials). See if they’ll also give you a NTE (not-to-exceed) amount as well. Demand a budget from each with a man hour/man day breakdown for Labor and then agree (in writing) as to the acceptable markup for needed Materials.

Follow UCGal’s advice to the letter. Yeah, this is a tough market, but you’re still vulnerable to ripoff artists, especially with how tough this market is.

Make sure all insurance, including General Liability, Auto and Workmans’ Comp is paid up, and be aware of any and all contingent/vicarious liability issues prior to project start (i.e. postman taking a header because plumbing crew left excess pipe on your walkway, or a worker from the carpentry crew backed into your neighbor’s car). Walk your property and find a good lay down area for materials, dumpster, and fab.

Make sure everything is in writing. Make sure subs are using AGC or AIA approved short-form or long-form contracts (you can Google this, as well as contact your local AGC office). To truly cover your ass, you might want to hire an attorney experienced in construction law and have him verify that everything is in place and there are no glaring issues in either insurance or contracts.

Buy a dime bag.

[Aecetia]

Get Allan to be the GC. He sounds like he has been down this road before.

[Aecetia]

Get Allan to be the GC. He sounds like he has been down this road before.

[Aecetia]

Get Allan to be the GC. He sounds like he has been down this road before.

[Aecetia]

Get Allan to be the GC. He sounds like he has been down this road before.

[Author]

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