All Forum Posts by: Greg Todrank

Anyone have any tips they care to share on getting contractors to call back?

I have a BRRRR teed up. The B is no problem. The R is where I'm getting stuck. My estimate is $40K, but I don't trust myself enough yet to make an offer on my numbers.

I got one call back saying they are booked into 2021. Others aren’t even returning calls.

I read in one of the books about paying contractors to come out. Anyone use that successfully?

TIA

@Cassi Justiz

Thank you. I wasn’t sure if I was going to meet the tenants, but I think I will now.

BP:

I'm closing on my first duplex on Monday.  It is located about 8 hours from here, so heading up for a 2 day visit where I have to cram in a bunch of tasks.

• Close
• Meet with PM
• See 4 possible other projects
• Visit with contractors on possible purchase/project

Anything I am not thinking about for the property I'm closing on?  Should I meet with tenants?

TIA

Greg
 

It all depends on what you do with that debt.  If you refi and buy a property with cash flow -- good.  If your refi and it all goes up your nose -- bad.  Good debt vs bad debt.

As far as piece of mind goes...  If you think you actually own your property once you have a paid off note, try not paying your property taxes for a couple of years.

@Evan Polaski  Thank you.  Makes sense.

I am looking at a duplex that I may want to BRRRR. The config is upper/lower and both units are basically gut jobs -- plumbing, electrical & HVAC.

Question.  Do you look to just do a full big bang on the entire property?  Do you do LOWER first and get a renter?  Do you do UPPER first and get a renter? 

Yes.

I've just submitted an all cash offer on a property for the first time ever.  Are there any special considerations I need to think about in this scenario?

It is still thru an agent.  Do I just show up at closing with a bigger check and sign a few less documents?  Title process the same, I assume...

@Luke Carl -- Excellent post.  Appreciate the info.  Not sure why that didn't pop up when I did an initial search for the info.  Much more timely than 2013 posts that did...  Thx.

I am looking at a property on Lake Michigan.  I have developed a schedule on the amount of time I believe it will rent per month -- less in the winter, more in the summer.

How do you determine nightly rate? What other factors do you use SPECIFIC for STR?

I don't believe I can rent this monthly for what I need to make it work financially.  Is that my answer?