All Forum Posts by: Frank Agyeman-Duah

 Never heard of that happening before.

Labor is in short supply now especially tradespeople. There are stories everyday now how people who used to make 50-80k working for someone else started their own business and are making 400K a year. This will slow down with the recession, but things really have gotten crazy. I know a plumber who won’t even do work for $150 an hour cash because he’s booked out working 7 days a week. call around to some other people and see what they say. If you are in a time crunch and you don’t feel you can do it yourself, then you’ll just have to pay the kings ransom quotes unfortunately. 

He should be able to get all 4 done in a day. He’s providing no parts, so it’s strictly labor. Figure $100 to get out there and another $100 in labor for 8 hours you should be looking at around $1000 and that’s all profit (less gas money). 

@Frank Agyeman-Duah I used to work in HVAC. Mini splits are notorious for leaking at the joints if not properly installed. Now it should cost an arm and a leg, but I wouldn't necessarily go for Joe blow, "I'll do it for $200" either, or you'll be getting a call in about four months because all the refrigerant has run out your lines.

Is it one outdoor unit and 2-3 heads? I'd expect to pay $1000 - $1500 to get them installed.

He'll need to set the heads, run the lines, hook up the lines, ensure a vacuum, pressure test, and release refrigerant, perhaps even adding some.

The contractor knows he's not making a ton of money, and even though his margins aren't there because you're supplying the units, he needs to factor in you calling him and expecting warranty service if something runs afoul.

You need find someone else. This is not something you can do yourself.

What specifically is making your DTI so high? One thing to consider is if the DTI is 50%+ because you intend to STR and the income is not included in the calculation. If that is the issue you may need to plan to LTR at least initially so that they can include the prospective rent to offset your DTI.

The other option would be a DSCR/non QM loan to purchase since they shouldn't be concerned with DTI.