All Forum Posts by: Christina McManaway

@Ann Bellamy I am so glad they were able to help you out!  I sent you a connection request and it has the name of a local probate attorney.  I'm not sure if he works out in the palm springs area but if not hopefully he can refer you to a colleague who does.

Sounds like your getting somewhere!

You can pull out all the analogies you want, you won't convince me to run my business the way you want. See I've been there. I've worked for "free" for potential clients, my time, my expertise, my insurance, my business expenses, my liability given for free. $0 in my pocket and a day of wasted time. I learned quick it's better to sit at home. People who want free aren't serious! Like I said in another post, FREE is what's it worth $0! Now if you want to build a relationship that's successful you will set the tone right off that you respect their time and their business and pay them. Like someone else said you need to lay the foundation first then maybe you'll get a person who will give you numbers knowing you'll hire them and trust them and not shop their numbers. You can either take what I'm saying and learn from it or keep pushing back but this is how my industry works not just me.

I disagree, giving free estimates are not the cost of doing business. Maybe I should spend my days giving free estimates to everyone who calls instead of focusing on my paying clients. I'm sure they will appreciate that. In 6 months I'll be out of business. I have noticed that if someone isn't willing to pay for my time they probably aren't serious about hiring me to begin with nor do they respect my time or expertise. They are called tire kickers and they don't know what they want. You want a ballpark figure that's what googles for.

Then he is responsible for putting it back to its original condition. If you accept the work you may be on the hock for it. Negotiate a reduced price and move on otherwise you'll be holding up your property. Next time watch your contractor so they don't go outside the scope of work.

I went to the last one at the Mission Inn. I gotta say it was pretty awesome. Everyone was extremely friendly and for a first timer I felt very welcome. No sales pitch was done. Lots of networking time, haves and wants session, and an interview of a newbie investor so you can see how they got started.

What is the scope of work that he states accounts for the 17k? Nothing here seems a miss to me. You have a change order prevision in your contract. When anything unforeseen arises he would submit a change order for that scope of work. And you need to sign off of it and pay before he starts that scope of work. Am I missing something? This is the way all contractors do it. And no they probably aren't going to submit receipts and invoices if you did a fixed price contract.

Welcome to BP! I'm also focusing on buy and hold along with multi family.

No one ever says "I regret having taken my career seriously at the age of 19!" You'll be taken as seriously as you take yourself.

I wasn't sure what your partner was providing vs what they were receiving.  I would would expect them to have some vested interest either time or money.  But you seem to be doing both.

sorry I am just not used to seeing a 10% cap rate, around here those are D or F class neighborhoods.  In your area those may be very common.  What would you rate the neighborhood?  What are the cap rates of similar properties?  Did you get rent rolls and income and expense statement?  I would make sure your expenses are as close to actuate as possible.  Expense %s can be regional so check out what typical for your area.  Find our the last time it all was remodeled what was done.  Look at this it might help you out:  http://www.naahq.org/sites/default/files/naa-documents/income-expenses-survey/2013-Income-Expenses-Summary.pdf