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All Forum Posts by: Ardel ALegre

Ardel ALegre has started 4 posts and replied 8 times.

I enetered a partnership with a friend where we would go in 50/50 on purchasing and rehabbing a home last year, and we would then split the profits. We are novices and moved quickly, so we were not able to put the house under our partnership. We have not sold the home yet, but what is the best way to report the spending on my side so that when the house is sold, I am taxed appropriately only on the net gain? Also how can my friend report the payment to me so they are not taxed the full amount of the gains?

Post: How to find wholesalers in my area

Ardel ALegrePosted
  • Posts 8
  • Votes 6

Im starting my fix/flip business and am having a terrible time on the MLS, so I am looking for wholesalers to build a relationship with and get deals that way. What is the best way to find them?

If you do end up wholesaling in this area, let me know. Im looking to buy some fixers from wholesalers here.

Post: How do I find a Good General Contractor?

Ardel ALegrePosted
  • Posts 8
  • Votes 6
Quote from @Bob Stevens:
Quote from @Ardel ALegre:

Hello. I am an out-of-state investor looking to do some medium-minor renovations on a house in Columbus, Ohio. I have a long list of recommended GCs, but not sure what to look for in a quality GC that won't overcharge me or cut corners. Any tips on how to screen GCs and how to go about the process of contracting them and ensuring the work was done correctly would help a lot. Also, if you are a GC and can show some of the work you have, please contact me. Thanks!

 DO NOT even attempt to do this without a LONG-TERM team in place, it will not end well. They will tell you exactly what you want to hear.  Just connect with those doing deals they have trusted crews. It took me years. I now have about 30 guys that say how hi when tell them to jump. What you need to do is find guys like @Bruce Woodruff in Columbus. Maybe if you ask nicely Bruce will set up shop there LOL . Connect with @Remington Lyman he seems to be one of the good guys out there 

All the best 


 What do you mean by long term team?

Post: How do I find a Good General Contractor?

Ardel ALegrePosted
  • Posts 8
  • Votes 6
Quote from @Erin Church:

I'd suggest looking for FB groups of investors in the area. Ask them if they've heard of a couple of the contractors (I wouldn't give a list of 20 or anything) and also ask for recommendations. 

Have you also looked them up on BBB? Check there and check Google reviews. I agree with basically everything @Bruce Woodruff said as well. :) I once had a "GC" who had insurance to paint... which means I couldn't get his insurance to cover a few things that otherwise would have been covered. 


 Great idea!

Post: How do I find a Good General Contractor?

Ardel ALegrePosted
  • Posts 8
  • Votes 6
Quote from @Bruce Woodruff:

What everyone needs to make certain of in a GC is that they are licensed if it is required. And check with the Registrar Of Contractors to make sure that their license is in good standing without any black marks. Unfortunately for you, the State of Ohio does not require builders to be licensed, just electricians, plumbers, and HVAC. Which is bass-ackwards, but that's another conversation...

Same other general rules apply though - 

1) Get at least 3 bids.

2) Make sure they have adequate liability insurance and ask that you be named as additional insured on the project.

3) Really important - make sure they have Workers Compensation Insurance - ask to see proof of these insurances, don't just say "are you insured".

4) Ask to see a proposal and contract from another job. They should be well worded and lengthy, not short and written on the back of a bar napkin :-)

5) Of course ask to see other projects that they have completed, or are working on currently. Sometimes doing a walk-through of a current project can reveal a lot of how they operate and run their jobsite - is it neat and clean? Are the customers happy? Ask.

6) Never pay more than 10% in advance, regardless of what they say. They can start getting draws on the project once they are on-site and producing results.

7) Demand lien releases before you give a payment to them for their subs. I.e. when the electrician is finished and the GC wants a check to pay them for final draw, get an unconditional Lien release from the electrician (through the GC)

8) Get a schedule of sorts included in the Contract. You will not be able to stick to it, but get it down in writing anyway, including an estimated completion date.

Hope this helps a little, ask if you have more questions....


 This helps a lot! Thanks for the detailed response!

Post: How do I find a Good General Contractor?

Ardel ALegrePosted
  • Posts 8
  • Votes 6

Hello. I am an out-of-state investor looking to do some medium-minor renovations on a house in Columbus, Ohio. I have a long list of recommended GCs, but not sure what to look for in a quality GC that won't overcharge me or cut corners. Any tips on how to screen GCs and how to go about the process of contracting them and ensuring the work was done correctly would help a lot. Also, if you are a GC and can show some of the work you have, please contact me. Thanks!

Recently had to evict my tenants for unpaid rent for a little over a month. I was ready to take the loss, but I just got the video walkthrough of the place. It is an absolute mess, and I am guessing 30k+ worth of damages. Looks like it might be worth suing after all, but I am assuming they don't have any money or assets I can pursue. Is it worth paying the fees to sue and hire a representative? Once I even do that, what are the chances a collections agency can recover what is legally owed? Any good collections agencies for this sort of thing?