The life and times of an Arizona Investor

This will be my personal journal to document my failures and successes during my real estate experiences in Arizona. All stories, thoughts, and successes will be documented..

Monday, August 29, 2005

Bids galore!!!

I got several bids on the tri-plex today. The tri-plex will be quite a job. I should have known this, but the job is much biggger than I anticipated. The will be developing a budget and keeping to it.

The biggest issues is the roof, duct work, painting, and flooring. There was a guy working on a NICE house across the street and he gave me a quote on flooring. To do 450 sqft of tile, its about $575 in labor per unit. His work is awesome.

It was a big relief to see that the duct work is much less than I had anticipated. I will replace two coolers , roof jacks, and some duck work. Will be around $1500. So far, I think the bids have been great. I used this guy before, he's the cheapest and does excellent work.

He suggested that the painter should trowel the walls before painting. The texture will look like the new homes. What a good idea, I thought it was cost prohibited, but this guy says the painter he knows could do one unit in four hours!

This guy also has a roofer that he works a lot with. He's cheap and does good work. Hopefully, his quote won't be much on the roof work.

So, if I hire out the major portion of the work, I will do the small jobs like installing toilets, counter tops, appliances, caulking, etc.. This should work well , and if the work goes as planned, I can have tenants in by October 1st. Of course, this assumes I can get the contractors to agree on a tight schedule!

So, things are going quite well besides the seller not returning my calls.

The main issues now are:

1) POA is faxed to title company. They are saying they need to see the trust that the property is held in. Crossing my fingers..

2) I need to let her know the results of the inspection

3) I need a copy and pay history from the current tenants

4) When is the house going to be re-keyed!

I got a call that the junk in front of the house should be taken away tomorrow (hopefully).

Good investing!
|| Bginvestor, 8:24 PM


Here's a couple tips: The contractors will take longer than they said. The contractors will take longer than they said. The contractors will take longer than they said. :-) Just keep that in mind and don't make your schedule too tight.
Blogger Shaun, at 7:37 AM  

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