A quick business update
We are ready to start the rehab of our latest project, but we have about one more week before the city approves our plans (after our initial resubmittal).
Time is of the Essence
A significant lesson learned. If you’re going to work on a house that is going to require plans to be submitted, be sure you know what the city you’re investing in expects for that neighborhood. Since this is a pretty major remodel, and we’re in a “character area” just remodeling a kitchen requires submitted plans. Also, since we’re in California, the new ordinance requires us to put in fire sprinklers. Much of this can be found by calling the city and asking or reading up on what they’re requirements are.
Have a draftsman on your team
The other thing, when you invest in a pandemic be aware that the city may close down for a while, preventing you from submitting those plans. But, in our case, we were not affected by that. Worse, we were late to getting the drawings started. Then with the structural engineering required, we also needed their stamp of approval and calculations. I recommend, find a draftsman and structural engineer and get their contact info into your database before your next offer. This important aspect is so important. When you set your contingencies, be sure you have your draftsman on the project as soon as you are under contract. You may even need to get your plans submitted to the city before you close. You want to be ready as soon as you close. Know what your cities time frame is, in our case, we submit and get plans 3 weeks later, I understand that’s good.
Also, get those contractors lined up. Be sure to ask for accurate numbers from several contractors to get an idea. If necessary, have them come to your house for a major remodel and see what they’re estimates are like to get you some ball park pricing and to find contractors you want to work with.
Lastly, check out ROI Muse for their online deal analyzer and if you like it, I have a discount for you.
Take care, stay safe, do good.