All Forum Posts by: Gary Siver

@Michael Dubovsky reach out to @Elenis Camargo and Thirdstone properties and they will be able to help you out with anything you may need. 

@Chris Huang If you need any help with a new roof give me a shout. 

@Jennifer Turner A good ballpark number is probably around $8000. Not counting any woodwork that is needed. If you know there is damaged wood then calculate about $75-80 a sheet to replace it.  If you want to replace it with a pitched roof you would have to frame new rafters or have some trusses built then decking installed on it, then shingle it.   What is the reason you want pitched?  Just so it lasts longer?

@Sam Leon Just go ahead and hire someone else. They are probably so busy with roofs right now they don’t want to mess with a small repair. Their 10 year warranty is probably just to cover their workmanship. The shingles probably have a 20-25 year warranty from the manufacturer. If it’s been 4 years and you haven’t had any issues then it was probably installed properly and more than likely you won’t have any problems. 

@Cali Skier That doesn’t seem like a bad deal. The $5000 upfront will cover permits, engineering and drawings. He probably isn’t profiting all that much after all that is paid. Then he is allowing you to use all his subs, which is a deal right there. Can you go and find subs? Which they won’t be subs if you find them they will be tradesmen. Can you get them to do the work as cheap as he does? How long will it take you to find ones you trust to do the work? In my opinion it’s worth it. If you have doubts pull the permits as a homeowner and hire all the tradesmen.

@Lior Golan That is a hard decision to make. Ask for several references with photos of the work and if it checks out go ahead. He is probably worried he will get taken for the money just like you do.

@Michele V. Reach out to @Elenis Camargo and you will not be disappointed. They are investors themselves as well as running there property management company Thirdstone Properties. They have met and helped many people from this site. 

@Jessica Stevenson Don’t walk away from it. Just negotiate the price if possible. Treat the termites and fix the damage and get a termite bond for it. As far as the drains go if it’s in your budget go ahead and replace them. A lot cheaper to do it now before you do a complete rehab. If you are holding it long term they will end up needing to be replaced at some point. I’m sure there are cracks and holes somewhere in the line right now.

I currently own a property without a mortgage. It’s a single family home that has an Arv of $195,000.00. It was originally purchased for a flip that I decided to turn into a rental and brrrr it. I have tried to refinance it but do to poor credit I was not able to do so. So I went ahead and put it up for sale. I have only gotten two offers on it and both are owner finance offers. One of them seems good to me. It is a $40k down payment, with the loan at 15 years at 6%. I wanted to sell it or get cash so I can purchase more rentals or flips. If I go the owner finance route then I won’t be able to purchase the rentals. Any advice or input is greatly appreciated.

Gary Siver

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I currently own a property without a mortgage. It’s a single family home that has an Arv of $195,000.00. It was originally purchased for a flip that I decided to turn into a rental and brrrr it. I have tried to refinance it but do to poor credit I was not able to do so. So I went ahead and put it up for sale. I have only gotten two offers on it and both are owner finance offers. One of them seems good to me. It is a $40k down payment, with the loan at 15 years at 6%. I wanted to sell it or get cash so I can purchase more rentals or flips. If I go the owner finance route then I won’t be able to purchase the rentals. Any advice or input is greatly appreciated.