All Forum Posts by: David Chwaszczewski

Welcome to the site!

Never to old to start.  The years ahead are coming regardless if you invest or not.  Starting now should help you enjoy those "GOLDEN YEARS" ahead!

If you hire a general contractor who is doing a list of fix ups such as drywall repair, fixing windows, small trim work, changing hardware etc... i would pay for the materials and bring/deliver to the project.  The contractor will get paid per our agreement (HR rate or per job) at end of the week or project.  If you are hiring a specific trade such as Tile, hardwood, carpet, HVAC, Electrical, or Plumbing i would let them supply the material.  This will save you the time since they know what they need and usually have it readily available.  With a good professional company they usually will bill you at end of job or send you a bill and not ask for a deposit (in my experience).

Recently put handwritten letters to pre-foreclosure homeowners in an area we are targeting.  No envelope or postcard, just handwritten on yellow lined paper folded and put in box.  We have had a few calls and some are now leads, however had one homeowner state they are not wanting to sell the house (they were very polite on phone).  My question is after we tell them to call us if they change their mind do we wait to make a followup call or another letter, or do we just wait till they contact us?  I just don't want to push to hard and anger the homeowner and loose a potential deal.

If anyone has any suggestions i would greatly appreciate it!

I was wondering if anyone has had any success with dyeing carpet.  I have a property that I plan to rent and it has upgraded carpet that would look great (if the stains come out).  I am budgeting replacing the carpet, but would like to keep if i can.  The carpet is a light color and I think thinking it could go darker...but not sure.

Also any recommendations on companies or pricing would be much appreciated!  I am in the Charlotte area.

Thanks!

@Sean Kuhn is correct.  I have seen floors installed that did not acclimate and the issues they had were bucking and gapping in the seams.  If you make a tight cut in a door way and then the floor expands it will apply unwanted pressure and you could get air pockets under the floor also.

@Account Closed if you do a seller finance you could get a lower interest rate from HO then you can get at the bank. You could put a small deposit instead of 20% on a loan.  You could structure the deal any way you and the seller want.  Just make sure when you are done the negotiations you get the loan serviced.

I agree with @Eddie T. if you are a W2 employee you have nothing to worry about.

@Michael Cavitolo if you have decent credit and a steady job i would look for a duplex or multi family property. I would apply for an FHA loan (roughly 3.5% down, least expensive way to get a MTG) live in one unit and rent out the others. FHA will lend to you ONLY if you plan to live in the property. If you do you homework you should be able to live relatively rent free or close too it. This will allow you to pocket the rest and save for your next investment while someone else is paying your MTG.

There are many of articles and tools on BP for you to use so you can calculate your investment.  Keep us posted on your progress.

Welcome to BP!

You can post and put in keywords like NEW YORK WHOLESALERS, OCEANSIDE, UPSTATE NY etc... Most Wholesalers on BP will have the keywords alerts and be able to jump in and respond.

Another way to get to know your local wholesaler is join your local REIA or look for/start a BP meet up in your area. We just had one in Charlotte with a great turnout and got to meet some local wholesalers.