All Forum Posts by: Logan Turner

So I think the part that is the hardest for me is picking out all the finishing materials, the paint scheme etc. Does this get easier? Do you all hire interior decorators? On a side note, im in the middle of a BRRR property. I picked out a paint color to match the dark in the brick but not sure if I like it. I wanted some contrast and some pop from the curb. But not sure I like it. Reminds me too much of Halloween. Should I paint the brick cream? Put some white or cream color in the window trim? Thanks everyone, especially all you who have much better taste than myself.

Originally posted by @Anthony Nguyen:

We do not pay for tools to do the job. Period.

 What is considered a tool vs equipment?a tool can be re used? Equipment / supplies stay with the job?

Originally posted by @Chris C.:

I have been doing labor only contracts with good success over the past couple of years.  We have a very detailed system that creates our SOW's and materials list.  My contractors get a detailed SOW and materials list for them to quote.  If it is not in the materials list then they are responsible for it.  Mud, tape, nails, sprayer tips, etc are all provided by the contractor and he knows this up front to include in his quote.  We only provide "Finishing' materials.  Lights, paint, faucets, etc.

The benefit to this is that there are very few areas that we can control cost.  Price we pay for the home of course and how much we pay for materials.  Everything else is pretty much fixed.  Labor rates, closing cost, insurance, etc are all going to be about the same for all of us. (Adjusted for your area of course.)

Our system prints out our materials list with Lowe's item numbers.  We take this to the pro desk and they get us a quote generally saving us 12-20% off retail.  They then deliver all materials to the job site and we never have an issue with contractors waiting on us for materials.  When you are buying a $100k in materials a year this quickly adds up to significant savings that a contractor is not going to get for you.  It also allows us to buy in bulk and move items from one job to the next.

Contractors

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 Hit it on the head. My contractor has been great and passes the discount on to me. I see the discount we get, so my quote comes with pre discount. Or I just get labor quote and I take the materials needed to the pro deal for whatever discount they can give me. 

But i was curious is paint gun tips and paint gun oil / armor is considered a tool for the job. 

What about saw blades? Hammers? Nails?

I guess where do u draw the line? 

So i had labor quotes and then the contractor put together a materials list of items needed and passed on the discount to me. 

Maybe in the future an all inclusive would be a better option

Quick question for everyone. My contractor gave me labor quotes, and I am purchasing the material list for work to be completed. The painter has added items such as graco pump armor and gracO spray tips (for his paint gun). Who typically bears this cost? 

If labor and materials combined in quote is this stuff usually factored in?

thanks everyone

Hey @Jerry W. how has that 5.5 mil thickness been? i'm looking to lay down some allure (ultra or plus) and looks like one is 3.8 and the other 5.0. Price difference 1.79 Sq ft vs 2.49 sq ft (not counting discount). C+ / B- neighborhood, rent range 1200-1400.  

It'll be my first time using LVP and not sure if i should spend the extra for the allure ultra 5.0 mil thickness. Sub floor is old glue down vinyl, some unevenness to it

I'm curious what makes you want to target Lubbock and not Midland / Odessa? If I was to invest in Lubbock I would go after college students and rent the room individually. Have parents cosign the lease. You'll get much better returns and not be dealing with as high of vacancy

@Account Closed

Hey Christopher,

I'm originally from Sacramento and currently live in Midland. I have 2 rental properties and looking to close on my 3rd this week. I think its a fabulous place for buy and hold for two reasons. 1. the rent to gross price is very high compared to most places in the country. For example, i have a house i purchased for 42k, put 12k into it and have it rented out for 1125/mo. (house is now valued at 90k). 

My other property is a 3/2 1300 sq feet valued at 130k and rents for $1575.

So rent is strong and were in a down market from oil. Now real estate tends to lag behind oil about a year so its possible these prices come down a bit as the supply goes up from people leaving. 
However, when the boom was happening these places would have rented for 500-800 more per month. 

Reason number 2: when, and no one knows when, the oil does come back up, rent prices will increase and housing prices will see a spike in value. So you have an appreciation play as well. 

Texas is a very safe market which slightly outpaces inflation. It is not a cyclical market like Cali, vegas, Phoenix etc. However, here it is cyclical but it is also affordable enough to where you can cash flow off of it. If it does go up great, if not, well no biggie, still making great cash flow.

If you have any questions let me know. But I'm very bullish on this market as a mid term investment of 3-8 years.