All Forum Posts by: Account Closed

@Matthew Paul, thanks, yes, I never contacted that contractor. lol

Not that I need you say anything to me, my idea was to get some contractors lined up for when I do actually have a property so that I will be ready to go with renos as soon as possible. I'm just a prepare ahead type of person. I wouldn't want to waste anyone's time any more than I want them to waste mines. 

Something like going to a project they have in progress is a good idea. Do I need to have a property already to ask a contractor something like that?

I have funds to put down, however, I'm not a complete fool either. A certain percentage is reasonable depending on the size of the project.

@Laureen Youngblood, thanks sharing your expertise!

@Kumar Tummalapalli, thank you, makes sense.

@Tim Johnson, I just went to a meetup a couple of weeks ago and a contractor that was presenting said to do exactly that. Good to have further confirmation, thank you!

@David Olson, man listen, that is absolutely gorgeous! Only asking $225k? I guess it your area, but a home like that in my neck of the woods would easily fetch $400k.

Great job and congratulations!!

I have a SFH in Chesapeake, VA and my initial tenant placement/lease negotiation fee was $300 and 10% monthly management fee. They typically call/email me for repair approvals first; They keep a $300 repair fund in my account. I have had a roof replaced and other repairs, but no mark ups. She even got the quotes for me on the roof. I decided after reviewing the quotes from each contractor.

I have some of my own contractors she uses so I know it's no mark ups. When she uses her resources, I always see the invoicing (not that it can't be a relative like someone else said).

I just transfer the funds to my account and they pay it when the contractor invoices. It's been good so far.

@Mark Fries, good stuff on the managing of your properties.

@Nelly R., definitely get to an REI meetup! A Realtor from one of the REI's I attend just sent out a mailer for an investor offering owner financing, offloading like 11 properties (in my area)!

I am going to buy and hold as well as fix/flip, so this is very timely for me. Looking at the offerings now...

@Lamont Marable, great info! Would not have thought of that. I used Angies list and found a great guy to do a new deck for me and they own a construction company so I will use them for other things like windows, siding, roofing, etc. They weren't the cheapest but they were reliable, reasonably priced and very very responsive. 

@Michael Kugler, why not make it so the customers can rate a non-response? I know when I'm on Angies List, I can rate a business with comment that never responded to a request...(not that this is Angie's List you're talking about).

I see several ratings like that from customers and I know not to use them.

@Cam Jimmy, amazing! Congratulations!!!