All Forum Posts by: Pete Milano

There is a bit more to what you are saying then just going down to the supply house and ordering material.

If after delivered your material is not correct (ie. wood doesn't match in size, color, warped, wrong cabinets) then the installation will not be correct. Ie. You purchased the material and you told the contractor to install it and that is what he will do. Who should pick up the tab when the contractor has to work longer or be on the job longer due to your involvement?

Have a load of decking material (thousands of dollars worth) delivered and find that it doesn't all match. You will now eat the lost time, your time to get the supply house to pick it up and deliver a new load, and you still have to pay the contractor for time spent. Now, you may be left with conflict of schedules with ALL your contractors. All caused by you.

If a contractor screws up or his suppliers do then the contractor is going to make it right one way or another. If he doesn't then you now know you hired the WRONG contractor. 9hammers.com has solutions.

If you learn the business then get involved. Otherwise do entrust it to a qualified business.

Hope this helps a bit. : )

The further north you go from Richmond towards the DC metro area the more of a REO feeding frenzy you will find. For the average "Joe" it is near impossible to get a REO "deal" in northern VA.

Currently, I have a rental w/option in the Church Hill section of Richmond that I Rehabbed a year ago. Also, I just purchased a REO in Manassas and already have a purchase and rental contract on it.

I own my renovation/rehab company and find that gives me a bit of an edge over those without the know-how. I do GC, inspections, formal estimates and rehab work for other investors as well.

At the moment I am pursuing a few vacant income properties that will support 3 - 8 renters.

Pete

Definitely interested to see what is available and the terms.
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thanks..pete.

Hi Joshua,
I recently added an article about one foreclosure property that I expected to sell but there was absolutely nothing moving so I had to come up with a "Plan B". Time to make lemonade
http://www.biggerpockets.com/articles/753-it-s-time-to-make-lemonade

Unfortunately, the timing is terrible as now that I can mortgage the property (6 months) to get some of my investment liquid again, the mortgage people want so much more documentation in order to get the mortgage approved. It sure seems like it doesn't get too much worse. I hope.
thanks..pete.

Hi,
There are various ways that you can do a rehab. Each has their merits and associated costs. Regardless, I can complete a rehab for you based on your requirements. If you would like to see some of my work, I have before, during and after pictures of rehabs. Please contact me for the web site addresses and then after review if you are interested we can discuss your needs.
thanks..pete.

Hi,
I have created a few business plans and can provide you with some insight as well as recommendations. There are some good software products available that take you step by step through the process of building a plan.
No charge, I'll just get you going in the right direction.
thanks..pete.

Hi to Everyone,
I'm a recent addition and have been delighted with all that I have been reading. I started a home renovation business in January 2007 with the intent to purchase REO's, rehab and then sell. I have completed a large (over $100k) rehab and a medium one ($45k) so far of residential properties that I own, and as a GC completed a 3 apartment renovation in an 1800's hotel.

I hope to find local people to network and possibly affiliate with.
thanks..pete.
Pete Milano