All Forum Posts by: Bryan Normal

I'm an experienced flipper and rehabber looking to add a rockstar selling realtor to my team (SFH). Have worked with others in the past but looking for a high-end performer to go to the next level with. Things I'm looking for: Expertise of greater GR metro valuations with a solid Sale:List ratio // Big network of investor contacts including buyers, contractors, title companies, etc // Creative exit strategies // Diligence with things like documents and property info // Knowledge of wholesale deals and ability to help on these // Excellent & prompt communication with myself and buyers // and just an overall Can-Do work ethic with an aim towards solving problems instead of just bringing me problems. If you know anyone like this, please recommend!

As an aside, I did check out the BP Agent section and took note, but it seemed limited so wanted to post as well in finding one of the truly best SFH investor agents in GR

 Thanks Adrienne, I'll look into some of those web links. I'm already very familiar with the house flipping game so don't need anything like J Scott's books for this, I've read most of them. But I am looking for something like his 123Flip website, only for spec builds instead of flips. In the gross abstract a lot of things are likely very similar, but while I'm doing due diligence on the idea I'd like to get as much detailed info as possible. Im aware of Jerome Maldonado's course, but am very skeptical of any training courses that charge what he does. Would rather just read books and keep my $10K.... Eventually I'll just have to jump in and do it, but any books or other references are appreciated!

Can anyone recommend detailed references for getting into spec home building and development? Looking for books, websites, and/or YouTube Channels that aren't complete "guru fluff", that get into the actual nuts and bolts of the business. I currently have been flipping houses for a few years, taking on pretty extensive rehabs and using contractors/ permits as needed, and getting my builders license soon. Looking to think ahead on future business options here for spec homes. Thanks!

I have a 7 day eviction already started, which will likely take 2 months to fulfill. But my concern is obviously that the guy is going to trash the place in the interim, and insurance won't cover it. I would expect there should be some kind of protection for landlords other than trying to sue a criminal which won't work. But at this point, apparently there isn't?

 Utilities are all on (squatters are paying for them), and the place is actually half-way decent inside. Kitchen is clean, living room clean... Some of the bedrooms and baths need work but it's nice I guess for a drug house.

I guess I could try to get the utilities turned off somehow but I think those are all covered rights of the "residents"... Someone once suggested to me that I should rent a skidsteer and "accidentally" hit the gas line outside. Haven't put much thought into that, but given my limited options with a druglord threatening to cause heavy property damage, it could be considered more.

 Wish it were that easy; have gone to the house twice with police, they just keep saying it's a "civil situation" and therefore they don't get actively involved. Also, since I bought the house with squatters in it, they technically are "residents", which is semantics. I almost had them all out where I was going to quickly change locks and screw shut windows, but the head drug guy showed up and my opportunity closed. 

Fairly certain at this point I need to make sure if they damage the place it is vandalism under insurance. Not sure I have many other options

I'm a bit new to REI, and have done a few flips. Recently took on a house for a great price, due to having existing "squatters" inside. Figured I could likely Cash for Keys them, and also figured that the worst case scenario's I had in mind, must have some decent options I'd figure out later through lawyers, police, or insurance. Well, I closed on it and basically it's a drug house. I got all but one of the "underlings" to vacate for free, but the head gang-banger in charge is very much a moving target. He goes by aliases, won't meet in person, but has stuff inside the house. He won't talk to me on the phone, but will text, and isn't interested in Cash for Keys unless it's done very informally without him giving his real name. He is obviously making threats about causing heavy property damage, and trying to goad me into evicting him because apparently he has a lawyer ready to go. Police officers are mildly helpful, but obviously they stop short of getting too involved.

I initially thought, "Well at least my insurance will cover it if he causes $30K in damage or something". Then read my NREIG rental insurance, and sure enough, it does not cover intentional "tenant" damage. So I've gotten myself into a pickle here, although nothing terrible has happened yet (it's just imminent). Does anyone have a recommendation on insurance companies who offer coverage for intentional tenant damage? Or on what constitutes damage as "vandalism" as opposed to intentional damage to an insurance company, since vandalism is sometimes covered? Or do landlords really have no recourse if a tenant just decides they want to flood your property or start it on fire? This guy only goes by aliases, and even if I could sue him, he'd likely just file for bankruptcy.

I have of course started eviction proceedings, but could be a while for them to finish, plenty of time for him to wreck the place. I'm also going to try to find a way to catch them doing illegal activity and get them out that way. But short of that, I'm not sure what I've gotten myself into here. Any advice?

Thanks for all the responses, very helpful... Yeah I'm putting in like 2 weeks consecutive of 12-14 hr rehab days trying to make the pre-Thanksgiving self-imposed deadline. Note that I said there are NOT many other listings in this area, and it is a pretty nice area. So I have that going for me... At this point I think I'm going to make my punch list prioritized, and whatever I don't get to by mid November, it is what it is. The thought of listing it after Thanksgiving is just too scary. The kitchen and baths look lights out, its all fully repainted with new flooring throughout, and the exterior of the house is great. Just some ugly windows and doors mainly... I will think about calling a handyman as well, that was a good point.

Looking for some advice from the flipping vets out there... On my 3rd flip, going really well. Bought it $197K, will put about $70K into it, hope to get $400-415 out of it. Rehab budget is not an issue, but time is... My market Grand Rapids has been largely unscathed by the economic downturn so far, but it's October and mortgage rates keep climbing aggressively. I think I can get it to about 90% flipped and list it by mid-November (maybe some doors and windows don't look very updated, garage left looking somewhat tired, a couple landscape aesthetics left unresolved). Or, I can get it to more like 98% finished if I hold it for another month and list in mid December (will take me that long because I have a crazy November schedule IRL). It's a upper-middle class neighborhood in a desirable area of town, without many other listings in the area active.

So, generally speaking, get it on the market now at 90% in a better month while mortgage rates are a little lower, or wait a month and get it looking more brand new but selling in December in Michigan? Obviously holding costs for waiting a month as well. Any insight would be helpful, it's weighing on my mind daily.

Man great stuff all around guys, thank you. Tbh there were a few other lenders that I knew were slam dunk scammers because of interest rate, but this guy seemed slightly more legitimate so I suppose in relativity I elevated his status to "...Maybe?", which was wishful thinking. But this is great feedback on how to find a scammer in the future, and really happy I posted here for peace of mind to not go any further. I actually do have a legitimate lender that I'm closing with for the first time now, but it's slow and arduous and feels like a conventional bank with all the paperwork, so I was looking for a backup HML that was a bit more simple, fast, and easy to communicate with. I'll just stay with the slow, conservative HML for now until that more personal HML comes along in the future that I can trust. Thanks again everyone!