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All Forum Posts by: Account Closed

Account Closed has started 2 posts and replied 58 times.

Post: Generating Leads - How can I find an owner's address to contact?

Account ClosedPosted
  • Rental Property Investor
  • Birmingham, MI
  • Posts 60
  • Votes 71
@Emily Jones County Clerk/Register of Deeds website is fastest way to figuring out who owns a property. The from there Google, Facebook, or skip tracing.

Post: Racism versus Return

Account ClosedPosted
  • Rental Property Investor
  • Birmingham, MI
  • Posts 60
  • Votes 71

@Max T. @Thomas S.

I see there was a formatting discrepancy using the app yesterday to post my reply. The quote while fitting at face value was meant to be a separate entity from the following comment. 

To clarify, in competitive bidding scenarios I don't believe in the American thinking of get three bids and take the lowest, pitting the bidders against themselves and the owner against the winning bidder. I like the more European approach of get three bids and take the middle when basing the decision solely on price and not value.

For the record though, if Adolf Hitler came to me and asked for a bid to build a concentration camp it would most certainly be met with resistance. A company although a sovereign entity should still hold itself to its own moral, ethical, and social convictions.

Post: Sell my car and lease a Truck for the writeoffs?

Account ClosedPosted
  • Rental Property Investor
  • Birmingham, MI
  • Posts 60
  • Votes 71
@Mark Hughes In the company's name. Namely for insurance reasons because I have tools and materials frequently in the vehicle. Makes sense to pay the extra couple bucks a month for a commercial policy than a rider on a personal auto insurance policy. My agent also told me that if my personal vehicle had a company logo on it that it would be excluded even with a business rider.

Post: What kind of cars do you drive or have?

Account ClosedPosted
  • Rental Property Investor
  • Birmingham, MI
  • Posts 60
  • Votes 71
I daily drive a Chevy Silverado for business and a 392 charger for everything else. Both are leased. I don't buy so I don't have to sell.

Post: Sell my car and lease a Truck for the writeoffs?

Account ClosedPosted
  • Rental Property Investor
  • Birmingham, MI
  • Posts 60
  • Votes 71
@Mark Hughes I go the lease route because of write offs and maintenance costs. It makes more sense in my case. I will point out though that the company owns my "personal" vehicle similar to what you described. It's definitely more arithmetic at tax time because you have to decide on mileage rates or actual expenses.

Post: Racism versus Return

Account ClosedPosted
  • Rental Property Investor
  • Birmingham, MI
  • Posts 60
  • Votes 71
"A business that only makes money is a poor business," Henry Ford. I'd pass on the low bid primarily because you should be looking at it as an investment. You should be hiring a fence builder, any builder, like they are going to build every project you are going to construct.

Post: Save money with your own construction co?

Account ClosedPosted
  • Rental Property Investor
  • Birmingham, MI
  • Posts 60
  • Votes 71
@Chris Rizzo It's not worth it to own the company for a few employees with inconsistent work. The insurance costs among other overhead things make your money best spent hiring a handyman or property manager who can take care of those problems. - Says the guy who started with the construction company first.

Post: How to fire my contractor?

Account ClosedPosted
  • Rental Property Investor
  • Birmingham, MI
  • Posts 60
  • Votes 71

I would spend the time to investigate if he needs a license. Should be able to get a definite answer by calling the local building department. In Michigan, without a license you can retain all payment and sue for any payments made under guise (but usually not worth it). 

If he is legit then worry about the percent of works completed. Sounds like it may be irrelivant because he sucks at money and will want it all and in that case you have to decide if it will be worth defending the case. I wouldn't though because you wind up prob spending at minimum the same and tons of time.

Me in your shoes.... Lock him out. Post a notice of cease work on the door and make him sue you for works completed. Or lein. He will need to be licensed to lein even if the work doesn't require license most likely. However, use your judgement. Is he really a snake? Is he just bad at money and can't afford to finish? Or is he just bad a contracting and didn't stipulate enough progress payments.

But on to the next mountian. Finding a legit contractor to come in under the firing circumstances has its own set of costs. They will probably want to take out the incomplete work (liability reasons). Now the bad news for the property... In my area starting unpermitted work is usually twice the permit fee (afew hundred bucks). Probably wornt have to rip out everything because it doesn't sound structural but your town will make that decision. The building inspector will be your all in the end.

Post: How to fire my contractor?

Account ClosedPosted
  • Rental Property Investor
  • Birmingham, MI
  • Posts 60
  • Votes 71

I would spend the time to investigate if he needs a license. Should be able to get a definite answer by calling the local building department. In Michigan, without a license you can retain all payment and sue for any payments made under guise (but usually not worth it). 

If he is legit then worry about the percent of works completed. Sounds like it may be irrelivant because he sucks at money and will want it all and in that case you have to decide if it will be worth defending the case. I wouldn't though because you wind up prob spending at minimum the same and tons of time.

Me in your shoes.... Lock him out. Post a notice of cease work on the door and make him sue you for works completed. Or lein. He will need to be licensed to lein even if the work doesn't require license most likely. However, use your judgement. Is he really a snake? Is he just bad at money and can't afford to finish? Or is he just bad a contracting and didn't stipulate enough progress payments.

But on to the next mountian. Finding a legit contractor to come in under the firing circumstances has its own set of costs. They will probably want to take out the incomplete work (liability reasons). Now the bad news for the property... In my area starting unpermitted work is usually twice the permit fee (afew hundred bucks). Probably wornt have to rip out everything because it doesn't sound structural but your town will make that decision. The building inspector will be your all in the end.

Post: Painting over wood paneling?

Account ClosedPosted
  • Rental Property Investor
  • Birmingham, MI
  • Posts 60
  • Votes 71
Just prep it real good. As long as it's not got a poly like coating paint will stick. The the skim coating is a good idea but depends on your drywaller.