The WI-2 House is completed and listed for sale…
The project went very smoothly and it turned out great! The bulk of the work was in the kitchen — here’s that transformation:
Here are all the Staging pictures from this renovation:
We still need to paint the exterior and do some landscaping, but that’s pretty difficult when it’s 10 degrees and snowing out… 🙂
Just found this discussion — “10 degrees and snowing out” sure doesn’t describe what it’s like down here in Texas!
I’m curious: you don’t seem to allow for any soft costs for consultants: architects, engineers, etc. don’t ou need them to draw up plans for permitting? Also, what about permit costs?
Thx.
Hey Paul,
In my most common local market (the county where I do most of my rehabs), the building department generally doesn’t require drawings for anything other than additions or exterior modifications, which we very rarely do. But, we often pull permits for general renovation work, and I always account for them in my budget. For example, you can see that in these recent examples (towards the top of the budget spreadsheet) we pulled permits for general renovation work:
http://www.123flip.com/house-38-budget-recap/
http://www.123flip.com/house-35-budget-recap/
Here is an example of a bigger project in our market, where we had permits, design fees and engineering consultation:
http://www.123flip.com/house-31-budget-recap-2/
In the Milwaukee market where we’ve done a couple flips, they are more strict about drawings for permits. Here’s the budget recap on the first house we did in Milwaukee — you’ll notice we spent about $4000 between permits, drawings, engineering consultation and surveys:
http://www.123flip.com/house-36-budget-recap/
Most of the Milwaukee houses we’re doing are requiring permits, drawings and engineering consultation. On average, we’re spending $900 per project on drawings (my architect is now doing fixed rate for all the work he’s getting), permits are generally $500-800 per project, and I’m paying my engineer an average of about $300 per project for load calculations and other consultation.
you guys are amazing. just a bit more and I will also be flipping house down here. keep it coming, I am really learning a lot. such an inspiration!