All Forum Posts by: Amy Belton

After a nightmare experience with a contractor that we kicked off the job back in April, we finally have our flip (was supposed to be a buy-and-hold property, but crooked contractor soooo) under contract.

Title discovered a bogus mechanical lien from back in June 2020 that is ridden with errors and invalid per the state of Texas re: incorrect dates, incorrect addresses, didn't send us a certified copy (listed his own address instead).

Anyone have experience with this and still was able to proceed with this sale? 

As an FYI - We fully intended (and still intend) on suing them once the house was sold.

Thank you!

Amy

Looking for a Master Electrician for our property in Lancaster, TX. Please only respond if you’ve actually had work with done by them and find them to be honest and do quality work.  Thank you! 

We are about to finish our first investment property, where everything that could've gone wrong pretty much did. Our contractor stole from us, craftsmanship is TERRIBLE (lots of pics to prove it), he basically robbed Peter to pay Paul. We are now registered with the city and finishing the project on our own. It was originally going to be a buy and hold, but we instead are selling so we can pay back our investors, and still make a bit of cash to put into the next one. So many learning experiences, the little things that you don't think of when you're going into this. I'd be happy to share my story in more detail! 

So it was more of a “patch job”. They staged the property to look as though it received green tags and were just waiting for the final inspection. 

Has anyone had the experience of a “electrician” installing a stollen meter before power is turned back on? Please let me know. Thank you! 

Thank you for taking the time to respond @Anette Colcock! 

Looking to connect with anyone who has worked with Make Ready Renovations (aka Garretson Commercial Services) - specifically Clay Garretson or Brian Jones.

Looking to connect with anyone who has worked with Make Ready Renovations (aka Garretson Commercial Services) - specifically Clay Garretson or Brian Jones.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $82,500

We purchased our first investment property, which we hoped we could implement the BRRR method. Six months later, and we'll be putting this on the market next month, and SO ready to move on to the next one.

What made you interested in investing in this type of deal?

Seeing and reading about investments and the successes that others have had.

How did you find this deal and how did you negotiate it?

I found it through my own research. We were about to get almost $20K off of the original asking price after we had an inspector come out, and discovered so incorrect info in the original listing relative to the size and offerings of the property.

How did you finance this deal?

We have investors.

How did you add value to the deal?

We added an additional bedroom, and changed a half bath to a full. Through the process we also added new electric, plumbing, HVAC, and we are having termite treatment done.

What was the outcome?

While we will make our investment and then some back when we sell, we are bummed that we weren't able to keep this as our first buy & hold.

Lessons learned? Challenges?

UGH! So many. A lot of our issues stemmed from our contractors, so I would do a much better job next time staying on top of them every step of the way. I'd be much more organized and specific when getting bids next time around i.e. making sure that each line item and cost is clear, timing, draws, and making sure I get recommendations on current, past, and upcoming project they're working on.

Thanks everyone for your responses, all of that will certainly help us in completing this last phase!