All Forum Posts by: Chris Faulkner

@Timur Salikov I appreciate your transparent response. I am a contractor and real estate investor in Cincinnati and northern Kentucky. In my limited experience as a contractor, our pipeline to serve non-investor clients is healthy. We have an online presence, invest in digital marketing campaigns, and are ever mindful to create and maintain partnerships in our quest to scale our business. It is, therefore, difficult to eagerly work for an investor at a lower profit margin. However, we have investor clients and thoroughly enjoy the repeat, steady supply of business. The investors whom we do serve have a partnership mindset, and they typically have a decent size portfolio of properties. Many have experienced the burden of engaging a less professional contractor. It has been a great joy to help each of them reach goals!

Key considerations:
1. Many investors need significant education about the actual costs of rehab. May I tenderly encourage you to continue diligently studying construction/remodeling with as much zeal as you try to find a deal?! 
2. There can be an immense burden of dealing with a "joe-in-a-truck" contractor who provides the lowest price. If a property owner is unable to manage this lower-priced, less professional contractor and communicate effectively with him/her, then the total cost (financial, emotional, psychological, lost time due to inefficiency, etc.) of the project can be astronomical. Quite frankly, I have known many smart, talented men and women who choose to never do another rehab after going through a bitter experience on their first rodeo.
3. Be a blessing to your contractor; be someone whom he/she wants to work for. Share that you will be getting multiple bids. Honor and respect his/her time. Much investment of time is required for the contractor to arrive at a mutually beneficial price - one where everyone wins.

My family and I reside in Covington, KY. We only have investment property in northern KY. Cincinnati has been a great market for our construction company; we have been privileged to serve many investors. Because of our partnership-minded relationships with investors and desire to see each win and obtain their respective objectives, our clients often share their deal numbers and rehab budgets. Investors have experienced great ROI!

I reside and own investment property in northern Kentucky. My business is based is based in Covington. I would certainly encourage you to consider cities in northern Kentucky. All three counties (Campbell, Kenton, and Boone) have great promise. Our professional efforts have been blessed thus far!

Our team would welcome an opportunity to serve exterior property needs. Visit CityTopRoofing.com to learn a bit more about us.

Is the building(s) in good condition as is? Do you need to make any improvements in order to attract a buyer close to your listing price?

I have purchased two properties in Texas (Angelina county) that went through the tax foreclosure process. One was a city lot in lower quality neighborhood which had a home that burned down in 2014. The previous owner did have the homestead exemption in place, but the judgment date was more than 2 years from my date of purchase. This lot went through a sale, resale, and struck-off auctions and was not sold. My VERY low bid was accepted by all of the taxing jurisdictions. I rented a skidsteer for 1.5 hours to clean up the lot a bit and then sold it shortly thereafter for a wonderful profit. The second property was purchased at a struck-off auction. It was a 1/2 acre city lot. My wife and I cut and burned trees and brush, and, using the skidsteer and borrowing a dump trailer, I demolished an old 800 sq ft home and dumped debris at landfill (also buried some on the property). We made good money on sale.

Deals are available, but you must do your diligence before purchasing. There are risks!

As @Brandon Turner has shared the investing triangle with the BP community, there are 3 needs for investing - money, knowledge, and hustle. Knowledge in this niche can be very valuable!

What class of property are you wanting to purchase?

Thank you for the invitation. Sunday mornings are not good for me. I am with my church for the majority of the day. Could we schedule another meetup?

Hello Rudy. I am a contractor and fellow real estate investor. My wife was born and raised in Bothell, Washington; I convinced her to leave the area after getting married! :) We recently relocated to Covington, Kentucky and will be focusing our investment efforts in northern Kentucky (Boone, Kenton, and Campbell counties). Have you considered investing in NKY?

@Mike Reynolds, it is located behind 1422 South 1st Street in Lufkin - across from the Suddenlink office. Our inventory consists of new and used appliances, interior and exterior doors, sinks, faucets, cabinets, and much more.