All Forum Posts by: Buck Savage

@Steve Nielsen Jr

GC's can definitely be a bit of a headache when attempting to receive bids and contract them for services. I've already run across this dilemma personally, and it cost me a deal due to these issues alone.  Antoney Manning has always been quick to respond and served me well by coming through quickly and effectively! He is also a sponsor/member of the TIN group! So, not only will he give you a timely bid, but he will likely do the best possible work seeing as how if he doesn't his name (at TIN) could potentially be tarnished. Definitely need to get in touch with him before moving forward with your venture(s). 

I also have a solid insurance team and attorney/closing/title agent that would be to your best interest to completing your team of people. Feel free to DM me if you're interested and I'll be happy to share some of these. 

@Lucas Machado @Jim Hiler 

Thank you both for the list of resources!! 

I see to it that he makes good use of all these!  

@Charvick White Way to go Charvick!!! Congratulations buddy!!!!!

@Lucas Machado @Jon Huber

Gentlemen, 

Would you mind sharing said REIA group(s) name/website?

I'm helping to introduce my cousin into the investing world! I've expressed to him the value of joining a quality local REIA and I want to see to it that he attends some of your future meetings!

He lives in the Ft. Lauderdale area. Thanks in advance!  

@Raymond B. You're the man!!! LOL. Thank you!

This property will be a buy and hold, but with some much needed TLC for future tenants. I hope to do some flips after I've acquired several rentals however. The three contractors I'm hoping to get work from are all reputable with quality work, just need them to get off their butts! lol. I will be sure and keep you posted on who gets the job and my feedback on them for you! 

In the meantime, if you ever need any suggestions or references on any skilled trade workers; i.e- roofer/gutters/siding/etc don't heisitate to reach out to me. I know some guys who do quality work here in town. Enough that I could probably get this job done myself through them if I wasn't required to go through a GC on this particular project! lol.  

@Daria B. Thanks for looking into this for me! Ron Byrom is actually doing my FHA loan for me!! lol. So, thankfully I'm in good hands with with that aspect! I was under the impression that the contractor did have to be FHA certified, but good to know that is not the case. Thank you for that.

With all this said, it is just the three contractors that are keeping me from moving forward with my current closing date (6/25). I'm afraid that it's obvious that we won't be closing on this date now due to the lack of much needed bid(s) from my timely contractors.  

I'll call Ron on Monday to see if he has any references for a good contractor. I'm sure since Ron is the go to guy with these loans here, he must at least be familiar with or know a contractor that is regularly participating with these types of loans. Thanks again Daria! 

Hey Daria! 

Thanks for the reply! I neglected to mention that it is an FHA 203k loan that I'm pursuing. So with that said, I'm more so looking for a GC who is FHA certified, due to FHA requirements. Any help would be greatly appreciated.

At this point, I may consider seeking another form of financing that may not create as much of a headache for GC to submit bids.  

Trying to get started in RE investing in the Tallahassee, Florida market. Do any current local investors have experience with any quality, and more importantly, eager/hungry contractors that want to get the job done???

I ask this because i have now spoken with three different contractors, walked the property, and discussed proposed budget and repairs with them. None of which have come back with the much needed bid as of yet. (This has been over the course of a month) I even told the last contractor that at this point, I will more than likely award the job to whomever submits their bid to first. 

The construction here is busy, but i don't understand why I can't obtain a bid at least. I would like to connect with a contractor that I could likely use and have on my team for future endeavors. Any references for an eager contractor would be greatly appreciated. Thanks in advance!  

Hello all,

I recently discovered BP and I am an eager future investor projected to close 6/25 on an owner occupant FHA 203k loan. Property price is $35k for slightly less than 1000sq ft brick home in an up-and-coming area, so i was more than anxious to act fast on it. Although in need of repairs, I see the potential value in the finished product via the 203k assistance.

This property is unfortunately a single family dwelling, which will definitely restrict any desired cash flow as long as i am to be living there. With that said, is there any way to transition the property to a rental before the one year FHA requirement? If no, will i have to postpone any future investment property searches for an entire year?

I have been wanting to step into the world of real estate investing for some time and have been hesitant to until now. I'm beginning to think i may have acted too quickly on this property if I am not able to generate any cash flow from it for at least a year. 

Any insight or assistance would be greatly appreciated!