All Forum Posts by: Christian Lopez

At a first glance (from the picture) it looks like an ok deal based on the current market, but need to be careful with the water damage that is clear from multiple pictures. At the end of the day, if your number says it is a good deal based on your objectives, you should go ahead (and make sure ot be very conservative with the costs)

@Charlie Cooper when you say "25%+ CoC" are you considering appreciation (internal CoC) or not? Also, could you pls provide some example numbers of a recent deal you got that achieved 25%+ CoC? (I am just asking since I have not managed to get a deal that good, and would like to learn/gain some new perspective from more experienced ppl, like how much cash-flow are those deals, how much downpayment/initial cost, how much monhtly estimated expense, etc)

Thanks @Kyle D Birch, @Russell Cazeault and @Lynnette E. that was a perspective I was not considering that makes a lot of sence. 

@Max T., there was not "bid" per see, I only requested a quote and even reach out to them to confirm certain points to ensure the quote was done correctly and they ensure me it was.

With all this situation I just want to know/learn how can there be (enforced) accountability from a contractor's ends.From my understanding, I can only move forward with another contractor and fill a complaint with the best business bureau, but is that everything we have at our disposition?

@Michael Plante,  yes that would be the right way to go, but I am just upset about the lost time and opportunity cost involved. Also, given that they have clearly stated they would be losing money on this job (prob. reason why they are delaying) I just want to see if there is any other options I have to "enforce" the contract I had. 

@David Avery, the downpayment they have not is 2,100

Thanks, @Russell Brazil & @Scott Wolf for the response. The issue is that they are not getting my email and call back ( I will continue to try). At least it is reassuring that you say it is not a "big issue/deal" .

Just as a follow-up question: do you know if by updating the deed they will need to incur some expenses (e..g, fees, etc)? (I am thinking if that is the case, they might not want to do it, the reason why the lack of communication now)

   

Hi everyone,

I am “under contract” and paid the down payment to a roofing company to replace the roof of one of my properties (more than 3 months ago). Unfortunately, it is already been 1 MONTH since the “due date” they gave me when I signed the contract. One of the main reasons the whole work is delayed was that the person who quoted the work did not pay attention to how to get to the roof given the layout of the property and utilities/cable close to it. This was an error from their end, not mine, and they have made it clear that because of this error the price they quoted is lowered than the true cost; hence they would be losing money with this job (the reason why I think they are delaying the whole job and not due to weather are they make it sound).

I would like to know:

What can/should I do in this case? (are they any legal argument here I can use in my favor? can I make them responsible for lost opportunity costs and/or other costs related to their delay? )

Thanks,

Hi everyone,

In a recent purchase, the title company made an error on the deed, specifically, they used just my 2nd last name, not my full legal name. The title company worked with me in two previous purchases in which they had my name correct. Moreover, before closing, I highlighted the mistake of my name on a Settlement Notice they send me and asked them to make sure this error was not happening anywhere else (something they did not do). I asked them to address the issue since from my perspective I told them about the issue and this was not the 1st deed they work with me. But, from their end, I should have checked the name at the date of closing.

I would like to ask/know:

• 1) Should I worry that the deed does not have my 1st last name, just my 2nd name?
• 2) Do I have any legal arguments that I could use to ensure the company fixes the issue?

Hi @Brandon Pimm and @Cole Farrell, I am doing fine. I managed to find a good agent and got one property already that I am getting ready for rent. I also have another property under contract (this needs a bit more work but the ARV was still looking good), and openly looking for a third one now. Both properties in the Allentown Area, so I am interested in the investors meeting Cole.