All Forum Posts by: Glenn Banks

Jennie Ortiz After repair value - the fair market value of a property after it has been repaired/ remodeled. The process is also known asset stabilization. So theoretically you buy a property for an agreed purchase price, drive value into the property, then sell it for the ARV hopefully.

James Bynum Congrats !

Ryan Johnson Congrats and good luck!

Jessica Bolin Nice work !

Tab B. For this to work out in your favor , you're going to have to have a great relationship with a GC. It can be done successfully, you need to find the right contractor who is willing to go through the paperwork requirements and who's financials are well seasoned per FHA guidelines.

Kyle Corkery Congrats Kyle and good luck!

Danielle Cage At a recent real estate seminar this topic came up. Using an answering service was highly suggested. The data showed a 70% no contact rate after the first call was made between potential seller and buyer. You need to be using a live call answering service who answers with your specified script. You're losing an opportunity every time someone calls and doesn't hear an actual voice on the other end of the connection.

Christian Bors As a contractor I have the notice of intent to file lien included in my contact language to protect me as a GC. The contract you should sign with the carpenter is similar if not identical to one you'd sign with a GC. Clearly spell out scope, price, quality expectations, and time frame. If needed you can add an addendum for additional information or change orders that come up during the construction process. I can send you my contract of you'd like to look it over for fact finding.

Michael S. It up to you but for the cost vs maintenance scenario you propose, I would go with vinyl siding and be done with it. It should perform well for roughly 20-25 years depending on the quality of the siding you use. Thicker panels perform better. An .040 is on the thin side, an .048 is a thicker, more durable panel. For rental properties, an .040 is fine. If you go the paint route, Sherwin Williams SuperPaint is a decent paint line, as another poster stated. There are times where I would repaint, like if you the neighborhood had a graffiti problem or the HOA doesn't like vinyl siding.

Alan Goetsch Al , could you describe a little more in detail about how these deals went south. Also, you don't need law enforcement to check routing and acct numbers, just the Internet. You shouldn't post real acct numbers on marketing material anyhow, but other than that, please explain.