All Forum Posts by: Ed Hoffmann

@ James 

@James Sloan. Most , but not all contractors are good builders but bad business people. The cost of goods are higher and everything else has gone higher. That makes the contract bid higher, but it does not change the initial deposit. Even if you were doing a total remodel . If you have used him before and he was good and did what he said, you need to negotiate that initial deposit. Everyone needs to get paid for their work but 50% upfront is too much. 50% upfront makes me think he is short on funds and this would help him get through. The problem with that is you are the bank and not a customer. 

@James Sloan. I am a contractor and he is violating the 10% or $1000 which ever is less. Do not give him 50% down. You are taking the risk.

@Crystal Kaczkowski. With the high tax rate and the HOA fees this one will not cash flow unless you add a much higher deposit. Better deals are out there.

Rob, yes it is. My wife and I lived just above San Clemente state beach. We still have 2 VW buses. 

When is a good time to have a free and clear property verses a property that has a mortgage. 

New investor as well and would be interested in joining. Live in Murrieta

Has anyone done this and what are your strategies ? 

Are the sell values good?

Thinking about going to see how it all works and taking notes to see if this is a good way to acquire some rentals or flips. 

Most are all cash offers.