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All Forum Posts by: Mike V.

Mike V. has started 18 posts and replied 57 times.

Post: Buying Properties in Preforclosure -- Do they still work?

Mike V.Posted
  • Investor
  • Arnold, MD
  • Posts 60
  • Votes 11

@Matthew B. when you say she agreed to walk away with $12,500 net what do you mean? Did you just start taking over payments. Im just trying to understand the process is all

Post: From Beautiful Annapolis, MD

Mike V.Posted
  • Investor
  • Arnold, MD
  • Posts 60
  • Votes 11
Originally posted by @Kiel J.:

Elizabeth Colegrove & Mike Vakas do you know of a good REI meet-up in the Annapolis area that would be beneficial for a newbie like myself?

Hey man. I do not know yet. Ill pm you

Post: Buying Properties in Preforclosure -- Do they still work?

Mike V.Posted
  • Investor
  • Arnold, MD
  • Posts 60
  • Votes 11

Hey everyone. Im reading Marty Boardman's book 'Fixing and Flipping Real Estate'. I'm reading the section on aquiring Pre-Forclosures. I feel like I could follow the steps he suggests and do it with confidence. I don't have everything lined up yet, but say I did. Is it worth it? I willing to take action to do this, but is it effective use of my time or is it obsolete in 2015? I live in Arnold, Maryland, specifically Anne Arundel County. Any recommendations even from you Marty would be great. By the way, id you are reading this, great book! Im new to Real Estate Investing, I found a mentor and everything, but I'm just learning the game.

Post: Painting

Mike V.Posted
  • Investor
  • Arnold, MD
  • Posts 60
  • Votes 11

@Brandon Krieg you the man. I feel like a professional REI already. hahahaha.

Post: Painting

Mike V.Posted
  • Investor
  • Arnold, MD
  • Posts 60
  • Votes 11
Originally posted by @Chad Hovermale:

We operate a drywall contracting business in Grand Rapids, MI.  All of the advice is good on this thread.  @Justin Grubbs has a great recommendation for how to handle this in his region.  @Josh C. has a great rec for how to handle this in his region (especially the one throat to choke wisdom).  In my experience, drywall and paint are conflated in some markets and treated as different trades in other markets.

When in doubt, it is easy to go materials suppliers (drywall specific, or paint specific, not the lumber yard that has a pile of drywall in the back). They will tell you how these trades are customarily approached in your region. You might ask the two painters which supplier they use to purchase drywall. Another option might be to ask your REI network in the area for their recommendations.

It is a lot easier to hire a bad contractor than it is to fire a bad contractor.  Stay diligent and plod through the back and forth communication frustrations.  The effort you make to figure this out for this project will add value to your future projects, as well.

Good luck!  Keep at it.

 This is a great post. Off subject for just a moment, How are you getting the @ with the names to be highlighted and clickable? I tried to do it a couple of posts ago, but it doesn't show up. 

I'm going to call a couple of paint companies to see what they would do in my area. Thanks for the advice. I'm not exactly sure how to find my REI Network in the area, but maybe a simple google search will do. You have a ton of great advice, I really appreciate it.

Post: Painting

Mike V.Posted
  • Investor
  • Arnold, MD
  • Posts 60
  • Votes 11
Originally posted by @Justin Grubbs:

I had a friend that was on a professional drywall crew and they never painted. In my personal opinion I would say that paint prepping would include just scraping back peeling paint, filling in any minor holes in trim with some wood putty, priming the surface, and painting. Assuming you have the option, I'd say leave the drywall to the professional finishing crew and the painting to the painters. Hope this helps! Good luck!

 @Justin Grubbs , you are the man! I really appreciate it. This is exactly what I am looking for. Does anyone agree or disagree slightly or completely with what he is saying?

Post: Painting

Mike V.Posted
  • Investor
  • Arnold, MD
  • Posts 60
  • Votes 11
Originally posted by @Matthew Paul:

Prep work depends on the job itself .   Each job is different .

 I know that it's different, but say I make a sheet that highlights the things I want done to the particular house we are flipping. I can print off a sheet highlight numbers 1, 4, 5, and then hand it over and ask for a quote based on this specific prep and painting. See what I mean. Oh Matthew Paul, It's good to see some people in my area.

Post: Paint choice?

Mike V.Posted
  • Investor
  • Arnold, MD
  • Posts 60
  • Votes 11

We use neutral lighter colors. We usually use 5 gallon buckets for the house. Usually like Valspar 2000 (I do not work for the company). We use a flat beige on the wall, and a semi-gloss white or off white for the trim, kitchen and bathrooms.  

Post: Painting

Mike V.Posted
  • Investor
  • Arnold, MD
  • Posts 60
  • Votes 11
Originally posted by @Josh C.:

I have one guy do everything. Wallpaper removal, drywall install, fix holes, prep prime paint. One throat to choke if there's issues.

One thing I do differently is prep. Some guys just wipe down, and some guy clean with chemicals before primer. What do you guys do? I haven't had any issues but I don't have any from a long time ago. Usually I prime and two coats of paint.

One throat to choke if there's an issue. Josh I have to steal that from you. You're hilarious. 

I'm not sure what prep generally is. I looked some stuff up on google. it's a dead giveaway I don't know much about painting. I'm new and learning the ropes, but generally speaking this a learning experience for me AND I feel it will eventually moves things along.

 I'm just trying to put together a list of responsibilities for the painters. I could walk them around the house, but I just want to them to see a list, so that everyone is on the same page and i can get faster quotes that way. I would rather not have them ask me what I mean by prep or if this is included etc. I want all their questions to be answered so they don't have to ask me (or most). I know it's not a perfect world and I will still get questions, but I want to limit them.

Post: Painting

Mike V.Posted
  • Investor
  • Arnold, MD
  • Posts 60
  • Votes 11
Originally posted by @Kyle J.:

When you say "is drywall included", what is that referring to? Installing drywall? Texturing drywall? Minor drywall repairs? Something else?

My painters don't do any major drywall work (which I understand because they're painters not drywall installers), but they do minor drywall repairs as part of their prep work. 

Drywall install. One of my painters said something about that. They said it's finish work, not prep work. I'm just trying to come up with a list of what we expect our painter to do. If we say Prep work it means certain specific things. I'm seeking clear communication. I'm noticing lots of energy being wasted on back and forth phone calls, all of this comparison etc. I know that everything isn't black or white all the time, but I'm just trying to get it together the best I can.