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Rehab Project

2989 Views 8 Replies 5 Participants Last post by  scpainting
I looked at a 248 unit apartment complex yesterday. The place is a mess-- broken windows, weeds over my head, missing drywall, etc. Apparently it was crack head heaven until they ran everyone out.

I've bid a few projects like this in the past, and never won the job. (I'm not sure if getting the job is winning or not.)

I know I can't use my normal production rates for 2 reasons: 1. They aren't looking for the same quality we normally deliver; and 2. This is primarily simple painting-- i.e., the same stuff over and over and over.

So what kind of production rate gains can I reasonably project on a job like this?

I have come to the conclusion that money can be made on projects like this, but only if they are properly planned and executed. I'm interested in trying some bigger projects.

Three years ago our biggest project ever was $25K. The past three summers we've done projects between $60K and $90K. I was scared to death the first year, a little concerned the second, and looking forward to the third. Each was our most profitable project of the year. Thus my interest in moving into something bigger.

In the past year I've bid about 10 jobs that came in at the $200K+ level, but we have not won any yet. I've tried to modify our normal rates because of economies of scale, but suspect I'm not doing so properly. Many of these are nice properties that aren't going solely on price, but 10% or 15% higher is a pretty big number at that level.

Am I in the wrong game? Or am I trying to play it by the wrong rules?

Brian Phillips
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I bid a 350 unit complex once. The investors were looking to sell the property and wanted to spruce it up, well, when they realized how much it was going to cost (around $650 per door)..... needless to say, it still is not painted and this was almost 2 years ago. By the way, that figure is just for the exterior. That included painting the light poles and stenciling the carports and... painting the mailboxes.... Everything but the striping on the pavement.... There were so many painters bidding on that project...

I bid it at $250,000 which is a bit more that $650 a door.

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