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All Forum Posts by: Account Closed

Account Closed has started 6 posts and replied 17 times.

Post: How Do YOU Find Good Contractors?

Account ClosedPosted
  • Contractor
  • Olathe, KS
  • Posts 29
  • Votes 4
Originally posted by @Javier Marchena:

I see a lot of posts from people complaining about their contractors.

One suggestion I would tell them is not to go with the cheapest one.

I believe the reason they get the bad contractors is because they select the contractor that gives them the cheapest price.

As a contractor this is the best I have read. The cheap ones always add 5k along the way. 

Post: Horror stories....What makes a good one?

Account ClosedPosted
  • Contractor
  • Olathe, KS
  • Posts 29
  • Votes 4

As a Contractor myself I hear horror stories here in The Kansas City,  Missouri and Kansas markets. A lot of the times it is at the beginning of a long relationship with a new investor. Or walking a historic neighborhood with an investor to get a feel for colors and style of the neighborhood. Then running into a home owner with a partially sided house(tarpaper only) asking her if it was up for sale.  You can see that glazed over look in her eye when she begins to tell us about giving 15k to  a contractor to install hardie board siding and all he did was the demo. Leaving her live-in flip in shambles and her bank account to match.  I am not going to pretend I am perfect but I do have a conscious I am always quick to respond to my teams mistakes and to make right what we have done wrong. Without excuses or blame we fix the issue. 

My question is what has your contractors done wrong? (group therapy feel free to get it off your chest)

What has your contractor done right? 

I would like to learn from others. 

Post: Auction home In kansas city......Good deal or no deal?

Account ClosedPosted
  • Contractor
  • Olathe, KS
  • Posts 29
  • Votes 4
Originally posted by @David O.:

@Account Closed I have never bought auction but that may be the starting bid so it will likely go for higher. How do you plan to finance? Most lenders I talk with won't lend on sub 45k , although I am sure there are some. 

If your strategy is a BRRRRRR (I just hammer on the R it's usually not the right number) than you will want to think through your full "life cycle" of the dollars your putting in. What is the source of short term dollars (for many its there own cash) and what is the financing "exit". Start with the end in mind. 

I had trouble seeing some of your analysis but where are you getting the after repair value of the house? 

You are probably correct on the price going up. But it was posted on realtor.com and that was the price. I am not buying this house.  This is just me playing with the calc and trying to wrap my head around it. Also making sure I get numbers in the correct spot. I have not went after financing yet. It would more then likely, once I am ready come from conventional lending, portfolio lending, partnership and personal savings. I would take any input on any of this that you have. Also it sounds like I should look into higher asking price homes?

Post: A sweet old man and a dollar bill

Account ClosedPosted
  • Contractor
  • Olathe, KS
  • Posts 29
  • Votes 4

kansas city...Missouri...kansas. buy hold

Veterans day

Post: Auction home In kansas city......Good deal or no deal?

Account ClosedPosted
  • Contractor
  • Olathe, KS
  • Posts 29
  • Votes 4
Originally posted by @Darrian Davis:

Looks like a pretty damn good deal to me bro!

It shows as a auction property listed at 10k Does that mean you have to bid on it? That is my question. 

Post: Auction home In kansas city......Good deal or no deal?

Account ClosedPosted
  • Contractor
  • Olathe, KS
  • Posts 29
  • Votes 4

Here is my second deal I have analyzed. It seems like it is a good deal. I just want any input on this. It is in The Kansas City, Kansas area and would be a buy and hold. What do you guys think?

Post: My first analyzed property

Account ClosedPosted
  • Contractor
  • Olathe, KS
  • Posts 29
  • Votes 4

If it makes a Difference this in in The Kansas city market

Post: My first analyzed property

Account ClosedPosted
  • Contractor
  • Olathe, KS
  • Posts 29
  • Votes 4

Post: My first analyzed property

Account ClosedPosted
  • Contractor
  • Olathe, KS
  • Posts 29
  • Votes 4
Originally posted by @Account Closed:

I am just running numbers and playing with the rental calculator. I am not sure if i am messing something up or not I just wanted advice. This is ran at about 5k less then asking price just to try and see if it can make sense. It is also a fanny mae home path home so its a low downpayment I believe. I am not so sure it is a great deal. What do you guys think?

Post: My first analyzed property

Account ClosedPosted
  • Contractor
  • Olathe, KS
  • Posts 29
  • Votes 4

I am just running numbers and playing with the rental calculator. I am not sure if i am messing something up or not I just wanted advice. This is ran at about 5k less then asking price just to try and see if it can make sense. It is also a fanny mae home path home so its a low downpayment I believe. I am not so sure it is a great deal. What do you guys think?