All Forum Posts by: Bob Jaeger

Let’s clarify a bit- Flooring- What type are we talking about and how much of it? Paint- Interior? Walls, ceiling and trim? Can you clarify the remaining scope of work? Is Where are you sourcing these contractors? Yelp, Home Advisor, Angie’s list? Let’s see if we can sort this out.

Hello BP community! As the title mentions, I’ve been around residential construction for the last 25 years and absolutely love i! I’m also an investor with six buy-and-hold units (and looking for more) in the western suburbs of Chicago, all of which required significant rehab prior to renting them. There’s always tons of questions that come up as a relates to rehab of investment property and I’d be happy to offer my opinions and suggestions as a free resource to help you in any way I can. Fire when ready! :) Bob

Hi Austin, Love your enthusiasm! I’m on OC as well, Aliso Viejo. Have you identified which niche in the industry that you like the most? Buy and hold, flip, wholesale, notes? Im a contractor and am holding a 6 Unit’s and looking for more. PM me if you want to have coffee and chat more.

I’ve had thoughts about this as well. Yes it comes with potential problems that need to be solved but I like to think of things more like that. Find solutions! I’m thinking if there was a legitimate contract for the work then one could lien the property to secure your interest. I’d also think about getting the property listed with a realtor up front as well. The tricky part would be if the seller flakes on you and decided not to sell or something of the sort. Thinking out loud, what If you contracted to buy from the owner and secured to right to improve in advance. Then remarket and assign your right to buy. Anyone have suggestions for SOLUTIONS to the potential pitfalls with this?

Welcome Susana! I’m in South OC and looking to connect with folks as well. I’m looking for non performing notes and investors looking for contractors. Let me know if I can help you in any way. Bob

Ha!  "Responsible"  Where's spell check when I need it?  LOL

Hello BP!

Maybe I'm searching in the wrong places but I just don't see many note investors doing deals in Orange County California.  Would like to connect if there's any out there.  Am I missing something?

Yep, that's pretty much the case. Mentor or JV. I'm just trying to confirm if its a waste of time to work with this approach or if there might actually be a need that some have. Or if others may say, "Hey, consider offering to..xyz"

Looking for suggestions or feedback from the Note Investor community. I have been in residential construction for the past 25 years and have done a handful of buy and hold deals in the last 10 years. Recently I've become very interested in the note space and I'd like to connect with some experienced note investors for the purpose of both the rehabbing after REO as well as wanting to have a go at the process of 1st or 2nd position note investing myself. I've done enough research and learning recently to bring myself to the point of wanting to put some money into this and get started with the right people but my question is this- Would Note Investors value a contractor who was willing to invest in projects with them, freeing up working capital for more note investments? Is this potentially motivation enough to some investors to then be willing to advise the contractor on his own pursuit of note investments? If the contractor was willing to share newly sourced tapes to bid on is that significant motivation to work together in some fashion? What else might the note investor seek from the contractor (beyond the obvious contractor professionalisms) that would be incentive to work toward each others mutual goals?

Thank you in advance for your thoughts and ideas!

Bob

So I’ve come across a gentleman who has recorded several second position liens on various properties but can not locate the actual notes. It’s my understanding that this isn’t unheard of but looking for some direction on if it’s out of the question to get involved with? I realize there are many factors that play into the value of the situation but I’m not clear on a missing note is a deal breaker. Thanks in advance for sharing. Bob