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Adam
If you are legit than you have carrying costs that don't stop just because work does.
Sitting home gets you deeper in debt.
That said - I do agree with what the others are saying - But
I would line item every part of the job. The total will be much more than the original quote as the original quote was a package deal that you had control of and a line item deal you have no control of.
Line one - plans and permits
Line two - any demo or prep
Line three - Supply framing material and install of same
Line four - Plumbing rough
Line five - Electric rough
Line six - Drywall
Ect ......
Make sure you can make a profit or decent wage on each line item and let him choose what lines he would like you to do and which ones he will take care of.
Make him the GC and yourself a sub.
Let him know that he will need to make sure any and all those working are insured and carry workers comp. Make him aware that it takes time and effort to schedule and co ordinate the project and that if you do it you need to be compensated for you time.
Been there done that
Bill T
 

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Sometimes you need to take nightmare jobs. It is not like he has any other leads now and he needs the work. I have taken work I did not like when bills needed to be paid. When you start to get behind it takes longer and longer to catch up if you don't do anything.
I remember trimming a house for half what the price should have been because the builder knew there was no work around and if I didn't do it someone else would. And I did a great job even being way underpaid. I knew what I was getting into.
I think Adam is aware of the possible problems. It will be his decision.
Bill T
 

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Artisan - I agree with what you are saying but I am hearing that he is too new to have the contacts you are talking about. A bird in the hand - even if it poops on your hand - is better than sitting around. He can make calls and reach out while other subs are doing their part. There is time to do both. In the mean time he is desperate for work. I'm sure he will still make more on this PITA project than he could make at a fast food joint or other "fill in job".
Once completed it will be seen by others who might need work and not be so cheap.
Bill T
 
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