Part 4 - Build and Rebuild

This is part 4 of the series on property flipping in New Orleans.

[Build]

This is the time where you let the contractors go and do their thing. If you didn't completely knock it all down, then brace yourself for problem after problem. We bought a pretty old and outdated home. Therefore, I counted on putting in all new electrical, plumbing, and tearing down all the walls to the studs for a complete re-design. In Louisiana, it's very likely there will be termite damage. It's just a good idea to build in contingency funds for that and what ever else you didn't count on. Honestly, it probably would have been faster and cheaper to just knock it down completely, but I thought I might be able to save something from the original. These old homes in New Orleans typically have structural damage, water damage, and/ or mold.



[ReBuild]





I actually think the contractor I chose did an amazing job on the place. He stayed in budget mostly. He also did a lot of things that were over and above contract to make it the house look great. He dealt with the structural issues for the siding and roof installation. It took forever and put us about 1 month behind schedule and then the cabinets put us several weeks behind schedule as well.





However, the biggest breakdown I had with my contractor was communication. I don't like contractors picking important stuff. It's our money and we should be making the call on everything. There were a few times where things were done already and I said no we have to change that from doors, to sinks, to tubs, flooring/tile, etc...





Be very clear on exactly what you want. I thought a picture was clear, but not so! You need to point out every aspect of the picture you want. On the one hand, it was good not to have to worry about every single detail, but I wanted it communicated to me BEFORE it was done, so that I could approve it. Some of the things were more painful and costly to change so ended up letting it go and just moving on like the soffit.





If you are not using a lender, remember to pay after the work is done in phases. If something needs re-building, catch it and get it corrected before payment is released.





Although the place looks great, I would not recommend this contractor nor would I use him again.





As always, contact me for any questions you have.