Posts Tagged ‘Multi Family Investing’

A Lender’s Perspective: Pre-Construction Suggested Items for Project Management – A Few Things To Consider.

For those that are Fixing and Flipping or Buying and Holding, I thought I would post some suggested tips when managing your own project.  This is from my construction control management experience and while most rehabbers, builders, developers and investors know a lot of these suggested steps, my posting is just meant as a helpful guide-line reminder, to assist you in your successful completion of future projects.  Let me know what you think and if you have any questions, please leave them here or email me directly at Wishing you luck and success with all of your projects. 

Pre-Construction Suggested Items for Project Management

1. Building Permit requirements

2. Additional Insured requirements – (general & subcontractors)

3. Project Plan Set availability, if any

4. Quality control is the contractor’s responsibility to adhere to specifications

5. Subcontractor’s contact information list for lien waiver tracking

6. Progress payment (Draw) submittal requirements

a. Spreadsheet format with requested line item levels of completion

b. Lien waiver releases

c. Invoices for stored materials, services, etc

d. Design changes that may impacts costs

e. Contingency line item impacts

f. Progress Schedule changes

g. Copy of building permit cards

h. Inspection dates within 48 hours of request

i. It’s safe to assume that “If it’s not seen, it’s not going to be funded”

7. Discussion of project schedule, date of agreed work completion

8. Who has authority to approve project changes?