All Forum Posts by: Sean Carroll

@Kyle Burnett that is exactly how I found Steve was by a recommendation, so I completely agree!

@Steven Lopez you could always open a self directed IRA (not sure on the max contribution) then place the profits in their to lessen the tax burden and still be able to use them to invest

@Dan Carbone for me is has been MLS with driving through neighborhoods and then mailing to the owners.

@William L. do you have a signed contract with this GC?

My primary job is work as a firefighter/paramedic in the Bay Area of California and I dove into real estate wanting to spend more time with my friends and family and realizing my body is already breaking down from the tough conditions of my job. So this all started with just wanting to get 50 houses that each cash flow $200 a month. It was was a slow start at first with trying to figure everything out and seeing a lack of transparency among most General Contractors. One issue of transparency I noticed is how they came up with their labor pricing, I wanted to know how they did it because I wanted to be safe with my first investments. Every contractor has a price sheet to figure out what they should charge for a job.

The next issue I caught on to is if they ordered the materials there was some kind of markup on the materials which I did not find entirely fair because I would request a materials list and they would just say they have to order them because they go through a specific vendor or supplier.

Now an issue specific to my market in Cincinnati is the reliability with "small-time" GC's. The heroin/opioid epidemic is very real in the midwest and cheap general contractors are having a difficult time finding employees who do not use drugs. The "big time" GC's are just too expensive and charging prices such as $20,000 for a very basic bathroom remodel.

Well after seeing this and becoming worried I partnered with a general contractor named Steven and we began  to address this issues in the Cincinnati, Dayton, and northern Kentucky region.

I am not sure what I have enjoyed more, seeing houses come together or my team grow and become better every day together. What issues have you had with your general contractors or your subcontractors? 

@Naftali Tolibas if there is anything I can do to help let me know! Feel free to PM me! 

@Patrick Jackson So I find having a project manager is extremely helpful but only if it is the lead GC. Having a third party seems like it could be frustrating for the GC. For instance, Steven is our project manager and him and I coordinate everything together from scope of work, materials, permits, dumpsters, as well as weekly updates to the investor. This allows for us to work with a seamless transition from acquisition to demo to rehab to sell/rent. We found having too many cooks in the kitchen really slows down projects and can cause frustrations with communication.

@Mohammad Sheatt that's great to hear! That is where I was projecting my rents.

@Tommy Spijkers the first one was from a whole seller who has become a friend and partner the other two came from the MLS

@Mohammad Sheatt yeah I realized xavier students were more towards the east and north of the school but am still pleased with the street. What are you getting for rents?