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All Forum Posts by: George W.

George W. has started 7 posts and replied 855 times.

Post: Creating my unfair advantage

George W.Posted
  • Investor
  • New Jersey
  • Posts 869
  • Votes 920
Originally posted by @Michael E.:

 Thanks! 

Are you still going to answer my question?

 Nope because you don't take advice well anyways 

Post: Creating my unfair advantage

George W.Posted
  • Investor
  • New Jersey
  • Posts 869
  • Votes 920
Originally posted by @Michael E.:
Originally posted by @George W.:

Hmmm... I could be wrong but I think I mentioned practice in my first post. Is "hands on expieence" different then practice?

 Good luck with your venture pal 

Post: Creating my unfair advantage

George W.Posted
  • Investor
  • New Jersey
  • Posts 869
  • Votes 920
Originally posted by @Michael E.:

 So, now the mistake I made is that I didn't use the right term? OK, let me try again.

What would you recommend that someone do learn how to drywall, tile and paint? Or is the answer still "don't try to learn, just go work for a contractor"?

Also, just so others are aware, a contractor's license does not allow you to do plumbing or electrical or HVAC.

Yeah I'd recommend if you want to actually be any good at sheetrock, painting, tile etc to go work for a guy to get better motor skills with it. 

I've done plumbing for almost 10years and have a state license for it. It doesn't mean I'm a sheetrocker. I'm wise enough on a rehab to hire it out to a crew and get it done quicker. A small repair is one thing.

This is a real estate investing website. If you wanna learn trade realeted skills nothing surpasses hands on expieence.  

Post: Creating my unfair advantage

George W.Posted
  • Investor
  • New Jersey
  • Posts 869
  • Votes 920
Originally posted by @Michael E.:
Originally posted by @Mike Kostner:

@Michael E. Is that your takeaway? We all advised you to "give up"?

We don't all want you to give up. We all want you to recognize that your best option, as the facts have been presented, may be to cut your losses. Then you'll be in a better position for your next deal.

Please keep us posted on your progress.

Well I was not asking for advice but since people want to give it...

What would you recommend someone do if they wanted to learn some construction skills? 

 Id say put the time in to learn the skills you want to know. "Construction skills" is a very broad term. What a mason, electrician, plumber, carpenter, painter,  drywaller, flooring guy needs to know is gonna be a world's difference each for fundamental skills.

My best advice to you is to learn what's realistic but not focus on having construction be your "unfair advantage" it won't be. On rehabs you make money on the purchase price not the rehab. If you're trying to make money on the rehab as a strategy you'll end up losing money because not to sound mean but you don't yet have the skill level to make money on construction yet. 

I'd recommend going to work for a contractor for a while on the side. Use that money to reinvest and learn skills if you wish to do your own work. 

Post: Creating my unfair advantage

George W.Posted
  • Investor
  • New Jersey
  • Posts 869
  • Votes 920

They say it takes 10,000 hours to master a skill. So if you're gonna be a contractor I'd recommend having some time under belt first. 

Post: Cost of Replacing Boiler heating to HVAC system?

George W.Posted
  • Investor
  • New Jersey
  • Posts 869
  • Votes 920
Originally posted by @Joe Martella:

I would just replace what you have.  I had a house with baseboard heat and I miss it.  The furnace doesn't work as hard.  All it does is heat the water and he pumps do the rest.  The house stays warmer longer with less gas usage because the hot water is circulating and the radiators get warm also emitting heat.  Forced hot air once the furnace is off, there is no more heat.  I am actually considering switching to baseboard heat in my house.  

Forced hot air also heats the air up too much and makes it dry, thus making a need for a humidifier. 

Post: Cost of Replacing Boiler heating to HVAC system?

George W.Posted
  • Investor
  • New Jersey
  • Posts 869
  • Votes 920

Alot more information would be needed to give you much of an accurate ball park estimate. Best bet is to get a couple reputable HVAC guys to check it out.  

Post: Finding contractors for flipping in a tight CO labor market

George W.Posted
  • Investor
  • New Jersey
  • Posts 869
  • Votes 920

A little secret about contractors: good ones screen their potential customers just like a wise real estate investor would wish to screen their potential tennats.

first things first I wouldn't tell any contractors that your an investor and that you have a ton of work you can throw their way. Literally contractors hear people talk like that all the time and 90% of the time they're blowing smoke to try and justify that they should be charged less than a "normal customer". Also I put emphasis on not mentioning too much about what your doing: alot of contractors want little to do with investors and flippers. Not an ideal demographic as a customer for many contractors. Less info is more sometimes. 

Also alot of people look for the "free estimate guy". That guy has no obligation to give you an estimate if he doesn't wanna work for you. Pay for a consultation and then the contractor will be obligated to acutally give you a quote in a timely matter.

My last advice is that sometimes people try to look for good, fast & cheap. You can have 2 of those when you're dealing with contractors. Good & fast will cost you alot because you'll need a great crew of workers making top $. good and cheap will take longer because you'll be treated like a fill in job/less important than other jobs they might have going on. Fast & cheap quilaity will suffer because its a rush to get the next payment.

Post: Waterproofing a flip

George W.Posted
  • Investor
  • New Jersey
  • Posts 869
  • Votes 920
Originally posted by @Bruce Woodruff:

It's worth the $5k. You will just have water in your basement all the time. Water causes problems from deterioration to mold. Keep shopping. rent a backhoe and do the digging yourself.......

Lol all fun and games until someone who's never ran a backhoe a day in their life ends up punching a hole in the side of their building or hits a underground utility line because they didn't have the property marked out. 

Post: What's the issues using non licensed contractors?

George W.Posted
  • Investor
  • New Jersey
  • Posts 869
  • Votes 920

In a lot of places its against the law and could have legal implications for you and your friend when you get caught. Some places will let homeowner occupants work on their own properties but you are still generally required to pull permits. Its actually a crime to be doing work without the proper license in my state.

In my area many towns have certificate of occupancy inspections when you sell. Thats when they tend to catch people who aren't pulling permits on rehab projects. 

Generally when you get caught you'll get a hefty fine and they'll make you pull permits anyways. Which generally no licensed professional will want to be affiliated/involved with when someone else already did the work and the township is already giving out fines.