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All Forum Posts by: Donald Hendricks

Donald Hendricks has started 32 posts and replied 218 times.

Post: Need Concrete Contractor

Donald HendricksPosted
  • Investor
  • Clarksville, IN
  • Posts 226
  • Votes 96

Thank you.   I found them on Google too.  Their phones go to voice mail saying they will not be available until after Oct 26th.  

Post: Need Concrete Contractor

Donald HendricksPosted
  • Investor
  • Clarksville, IN
  • Posts 226
  • Votes 96

I am in need of a contractor that can do a larger patio with colored and stamped concrete in the Bryan / College Station (BCS, Brazos County) area.

Any referals would be greatly appreciated.

Post: MAYDAY! Contractor sucks!

Donald HendricksPosted
  • Investor
  • Clarksville, IN
  • Posts 226
  • Votes 96
Originally posted by @George P.:

wow,  what a saga! the commpany could have avoided this whole mess, but they thought you'd go away after just venting about the problem.

it's too bad for them - this thread will live on forever with their name stained all over it.

Indeed.   This went from crap work, to it being about me telling Scott Flynn of Road Runner Construction to never return and how I was unreasonable for doing so.  It is apparent heneither had had the skill set to do the work or manage subs properly.  The position of Lifestyles Unlimited was that I was to give him as many chances as necessary to remedy the shoddy work.  To that, I say no.

I was remiss in posting an update to this thread.  The situation was completely resolved in less than 3 months, but only with the assistance and pressure of the Biggerpockets community.   Because of the power of this community and the savings incurred, I upgraded my membership here as I now see the true value of Biggerpockets.  Thank you everyone.

Post: MAYDAY! Contractor sucks!

Donald HendricksPosted
  • Investor
  • Clarksville, IN
  • Posts 226
  • Votes 96

UPDATE:   Contractor paid me back in full and Lifestyles Unlimited invited me to surrender my membership with a full refund.  They took their toys and kicked me out of the sandbox.

In part this is what the VP, Lynn Andris had to say.

Post: Lifestyles Unlimited of Texas

Donald HendricksPosted
  • Investor
  • Clarksville, IN
  • Posts 226
  • Votes 96
Originally posted by @Mark McCoy:
Originally posted by @Donald Hendricks:
Originally posted by @Mark McCoy:

Hello, I am a newbie so excuse my questions if they are repetitive. I am a new member of LU and am headed to the 2 day workshop. Based on this thread why would it not be more advantageous to just flip if these house have decent equity in them after rehab? At least you get your rehab $ back or does the workshop fundamentals teach to finance the whole APV thus you get your rehab and equity back then rent? I don't understand why you would see the house 3 years later? Thanks

 LU inc teaches that flipping is not investing. Flipping is a taxable event. Buy & hold is full of tax advantages. They taech use hard money, rehab, refi and leverage yourself to the max and then sell at some point and move into multi family via a 1031 exchange.

Thanks Donald!!! How does the financing work I understand the hard money and the rest of it but how many houses can you have and how does it effect your credit score etc.

Thanks again

Well that varies by YOU.  How creative you can become in talkng people out of their houses, your credit, available capital, connections, deaires, goals, drive....  You are the only one that can limit you.

Post: Lifestyles Unlimited of Texas

Donald HendricksPosted
  • Investor
  • Clarksville, IN
  • Posts 226
  • Votes 96
Originally posted by @Mark McCoy:

Hello, I am a newbie so excuse my questions if they are repetitive. I am a new member of LU and am headed to the 2 day workshop. Based on this thread why would it not be more advantageous to just flip if these house have decent equity in them after rehab? At least you get your rehab $ back or does the workshop fundamentals teach to finance the whole APV thus you get your rehab and equity back then rent? I don't understand why you would see the house 3 years later? Thanks

 LU inc teaches that flipping is not investing. Flipping is a taxable event. Buy & hold is full of tax advantages. They taech use hard money, rehab, refi and leverage yourself to the max and then sell at some point and move into multi family via a 1031 exchange.

Post: Market Saturaed w/ REI??

Donald HendricksPosted
  • Investor
  • Clarksville, IN
  • Posts 226
  • Votes 96

With the likes of Lifestyles Unlimited selling hype from $500-$15,000, they have produced a ton of hungry fish in that pond.  

I have my credit union filling up my mailbox and blowing up my phone at least once a week wanting to give me a line of credit.

I could take their money and and use it for investing.   Go big, you don't want to go broke over a duplex, right?

Use their money to secure and asset and refi after rehab.

What say you?

Post: Bathroom, Circa 1964 - Poop Brown - suggestions?

Donald HendricksPosted
  • Investor
  • Clarksville, IN
  • Posts 226
  • Votes 96
Originally posted by @Karen Margrave:

@Donald Hendricks

 What is the value on the house? How many square feet? The fact that something is a rental doesn't mean that people don't appreciate or would care for higher end finishes. I can tell you that here in Orange County, 60's style homes that have been updated go for top dollar. 

Give us more information on the market and you can get better information. At the same time, if you want serious comments, don't put things like "poop brown" lest you get childish responses such as 'whizz yellow" (boys and their bathroom fascinations) 

It is a low end 10 unit apartment bldg in nowhere Texas.  Currently renting at $300 a month, but rents are being raised to $400.00 and that is about all that can be squeezed out of it or the forseable future.   

BTW, I appreciate toilet humor, its not all snobery and business in my world.

Post: Bathroom, Circa 1964 - Poop Brown - suggestions?

Donald HendricksPosted
  • Investor
  • Clarksville, IN
  • Posts 226
  • Votes 96
Originally posted by @Glenn McCrorey:

Poop brown or neutral?  My wife and I ague about this kinda' thing... I would just get a colorful shower curtain and towels to dress it up. I guess it depends if you are renting it or selling it.  If it's rental, I wouldn't spend any money to reglaze.  I've seen some of  those go poorly over time.

My thoughts exactly on the re-glaze.   It is a a rental, low end apartments that will not support a bathroom remodel.  There are 10 of them exactly the same.   I like your thinking.  They will be referred to as "nuetral tones" from now on.