All Forum Posts by: Alejandro Patino

first of all congratulations! I’m still a newbie myself and know that getting started can be very stressful to say the least. When I purchased my first rental property back in 2017 I remember how much time I spent waiting for “the perfect one” it never came. My advice to you would be don’t bite more then you can chew on your first deal. It’s not wrong for you to take risks but don’t get in over your head.If buying a property that needs work done makes you nervous because you feel you might not have the experience ATM nothing wrong with buying a turnkey. I rather have a property that starts cash flowing day one with little to no work done over one that’s still months away from being ready. At the end it all comes down to how comfortable you or aren’t taking risks. I always like to tell people no amount of reading/researching about real estate investing will replace the knowledge that comes with actually doing it. Good luck

@Jeremy Komer Thanks for the feed back.I’ve already begun reaching out to other electricians for bids hopefully I can find someone lower on price 

@Caleb Brown they would tear into the drywall

@JD Martin thanks you! At least now I know one electrician I won’t be calling ever again!

@Mark Eaves Thank you! I’ll be sure to ask more questions

@Andy Sabisch thank you! The inside of the house is finished and from what he told me the wall would be opened.There is no access to the attic so I guess that should increase pricing some .Sounds like this electrician is really trying to stick it to me.Even my realtor thought he was quoting me way to high.
Since you brought up repiping, what’s you expierence with the cost on that? 

@Jacob I Strauss thanks for the response! The box will be upgraded as the house has a 60amp system and code calls for at least 100amp.I have someone that can do it for cheap it’s just the wiring that I’m having concern about bc it seems tooooo high!

@Dustin P.Thanks! That’s what I’ve been hearing idk why he quoted me so high.

Hello, I am currently in the prices of closing on a fixer upper in the St.Louis,MO area.The home is approximately 2 story 950 sf and currently has knob and tube wiring  throughout.I spoke to a electrician who said he would charge me 11k for replacing all the electrical.I’ve never dealt with something like this before, is this a normal cost?.I plan on getting other bids from some more electricians.I’m simple trying to get an idea of what the cost should be.Thanks.