In Part 1 of this article we discussed the pros and cons of hiring a general contractor. For those who would rather be their own project manager this article discusses the pros and cons of going that route: Pros Greater control over the job site and the work that is done. Essentially you are the boss. You can directly manage the workflow to suit your own needs. You can either accelerate or slow down the process. Cost savings from not using general contractor. This can ran

If you are doing a property re-model you’ll need to decide whether you want to use a general contractor to manage your project or to take on the role of project manager yourself. In order to assist in your decision below are some pros and cons of using a Good General Contractor. Pros The contractor will have the experience and skill set to pre-empt issues and reduce rework. They can efficiently handle the day to day logistics of the job site, and ensure tasks are done on a t

In order to keep up the value of your property and keep your tenants satisfied investment in your rental property will be required time to time. Below are 7 hot tips that will help maximize property value and rents. Update hardware like handles, door knobs, and kitchen cabinet knobs. These are relatively cheap improvements that are visually appealing. Combine this with painting your old kitchen cabinets and a counter-top upgrade and that old kitchen could be completely rev

The cosmetic renovation strategy is a common amongst investors. This means doing renovations that are visual in nature, and are like makeup for your property. This strategy involves purchasing properties below fair market value, performing simple cosmetic renovations, refinancing the property (to take out as much of what has been invested), and then holding the property for long-term cash flow and appreciation. The key to the renovations is not getting into the “guts” such

Hiring and managing contractors is a stressful part of doing home renovations. Below are some helpful tips to make the process easier: 1. Hire contractors by referral. Professionals in the real estate industry such as Home Inspectors, Appraisers, and Realtors can be helpful. Friends, relatives, and co-workers can be a secondary source of referrals. 2. Don’t choose contractor based on the cheapest price. This could indicate they use cheap materials, they are desperate, or

So you hired a general contractor to do a renovation. You’re satisfied with the completed work and you pay the final invoice. Have you fulfilled your financial commitments? If the general contractor fails to pay a subcontractor can a subcontractor put a lien on your property even if you had no direct dealings? The answer in Ontario is “YES”. According to the Construction Lien Act the subcontractor has 45 days from the date of last supply and or substantial completion to r