All Forum Posts by: Nat C.

@Bryan Soth

Me too. Sheriff was just about to remove the tenant and now they’ve got a free ride for who knows how much longer. Coronavirus Christmas more like it

@Jared Wilson

Thanks Jared. Appreciate your kind words

Here are some photos of a recent project. I’m sure I’m going to be criticised about my choices but that’s ok.

I had to buy a commercial premises for an investor visa. I scoured the whole country and found a commercial building with an additional house on the same lot for 110k in Daytona Beach.

Total building size combined is 3000 sq ft. The house is a 2 bed, 1 bath.The shop also has a kitchenette and bathroom,

Total land size is 9000 sq ft. It was listed for 110k. I negotiated to 105k.

It was a bankruptcy sale and the listing said access was not allowed and the property had to be bought site unseen.

I was buying from overseas, so I figured site unseen worked for me.

I paid cash, so there has been no holding costs.

Once it closed, I sent a contractor I’d used a few times before to get inside.

The contractor speaks zero English and also can’t use a phone or google translate. So I had to hire an additional person just to do translation.

Once he got inside, it was about a 9/10 in severity.

I will let the photos speak for themselves.

Not only was the property in disrepair but there was a meter high sea of rubbish.

The whole property had to be stripped and the plumbing and electrical redone.

Let’s just say it was an arduous process trying to project manage a remodel from overseas with a contractor I could barely communicate with.

I ended up parting ways with the contractor when the house was 90% done because his hours were becoming less and less yet his weekly pay was remaining the same amount.

I then found an amazing contractor who I am way happier with now and I wish I’d worked with him from the beginning.

I have just finished the house and rented it for $1100. (I have repainted the green decking to grey). 

The total house remodel was at least double what I usually pay for a property of this size. That was due to working with a contractor who was being paid a full time wage but only worked half the hours, plus some material wastage. 38k in labour and 20k in materials. It is double what it would cost me had I been there in person. The house alone would sell for around 150-160k if I subdivided the land and sold it separately.

I’m now working on the shop with the new contractor. Fortunately the shop is in good shape and requires substantially less work than the house.

Moral of the story is not to try to remodel a property overseas, with a contractor who doesn’t speak English.

@John Teachout

Thanks for your reply John.

I’m sorry for spamming the forum; I should have checked for past similar threads.

My contractor did go to the city and spoke to them. He said he was working for the new owner and we were repairing the property.

They told him that we aren’t allowed to repair the property and we have to demolish it. If we don’t demolish it, the city will do it and then put a lien against the property.

So I just bought a house and started some repairs and the city turned up and informed my contractor the building has been condemned and has an existing demolition order.

I just assumed this kind of thing was supposed to be made privy to the buyer before they purchased the property. Obviously it reduces the property value substantially.

I certainly didn’t get any discount for it being condemned.

Is there any route to go back to the title company or the listing agent and seek compensation?

@Laura Verderber

I am aggressive in business and highly masculine in thinking. A generalisation is a sweeping statement and does not apply to all!

I know I will get shot for this but women are inherently less likely to be risk takers. There’s less women in the workforce to begin with and then couple that with the fact women are naturally more cautious and conservative.

To be successful in real estate, I believe you need to have an aggressive mentality and work approach. You should feel like you’re in combat mode daily whether that be negotiating deals or managing contractors. Men have more testosterone, which leads to action. Men are more inclined to do, women are more inclined to think and feel.

Where in history were women warriors? Very rarely. Joan of Arc was one of the most prominent female warriors in history. She was ahead of her times and was burnt to death as a consequence.

Myself and other women are fortunate to live in an era where woman are allowed to be entrepreneurs and leaders but there’s still a lot of progress to be made.

@David Frandsen

Thanks David and everyone who took the time to reply.

It was great to hear others opinions. I don’t think it’s a good idea after hearing other people’s thoughts. The on site surveillance cameras will certainly suffice.

@Mike Cumbie

It’s not about capability Mike. It’s about honesty of time. My last employee was HIGHLY capable but the amount of work completed each week became less and less. He realised he could goof off for periods with no one watching him and it became progressively worse.

@Kyle J.

I appreciate your thoughts Kyle 😊

There’s actually a number of inexpensive body cams that have an 8 hour battery life with continuous recording.