All Forum Posts by: H. Duplechain

@Kimberly Jones - that would be great. Since I have nothing going on just let me know when and where is good for you. I am going to try to start getting back to my morning Starbucks routine a few days this week. I usually do the one on Magazine or the one on Harrison, but I'm flexible and can meet you anywhere.

Hi all,

Haven't been on-line consistently or too frequently. Have been busy working and wrapping up a few projects for clients in preparation for a period I knew I'd be out of work...which is now....

I had to have surgery a little over a week ago and I won't be able to work for a couple of months (I'm a contractor). I decided that I could use this time off to work on my business (so I don't go back to working in it again) and I am hoping to also use some time to start studying the market here in New Orleans so that I can finally get into investing for myself.

I have a list of almost 200 properties that I gathered earlier this year, when I thought I would be getting started with a partner. He got distracted and decided that he didn't want to work on it so, because of my own time constraints and (perceived) need to have someone to motivate me, I also dropped everything. Now that I have nothing but time on my hands, I am starting to look up the owners of these properties and I want to start canvassing a couple of neighborhoods that I'd like to invest in. 

What I'd like is a little moral support from some others out there. I tend to over analyze things and am EXTREMELY slow at pulling the trigger on my own deals. It's funny, when I was an agent, I would be extremely assertive and creative in putting together deals for my clients - but when it is a deal for myself, I freeze up and come up with every reason under the sun why it might not work. I tell myself it's because I don't have liquid money right now, and I don't have an income because I can't work, but I have other resources - I'm good at finding deals, and I'm a licensed contractor. 

I think it would also make me feel better if I had other people that could chime in on the deals I'm looking at - to give me their opinion. I tend to questions myself sometimes - because I'm scared I might miss something. And also, even though I know if I find a good deal, that it should pretty much sell itself, it would be great to know that I already know people, or people that might know people, that I could present deals to that I definitely can't negotiate terms that would work for me.

Anyway, if anyone out there is interested in offering some moral support and/or input and/or advice then please drop me a line.

Oh, a little background - I was a real estate agent and appraiser previously. My license isn't active right now, but I'm about to go back to school to get my Broker's license. I am currently a licensed commercial builder and aspire to be a developer. I have flipped houses with a partner just before things went south around 2006/07 and when I was an agent I targeted investors, so I'm not a total novice to things. I just have never done anything for myself on my own.

Saw this thread but didn't have time to read all responses yet so don't know if anyone pointed this out, but...

The possible reason for his mark up on price may be because it could be a part that could be 'problematic'. For instance, what if the board didn't work? When I, as a contractor, provide the parts, I ensure that it works. If it doesn't and I have to go back to my supplier, I eat that cost. The supplier may replace the part, but who pays me for the time in installing and reinstalling that part? There are times when we up the price for supplies because we take this type of thing into account. This is especially true for anything that has electrical components. I've personally had instances where I had to install the same plumbing fixture 3 times because the client unknowingly chose a fixture that had issues straight out of the box. They changed the choice after speaking to a rep and being told that they had been having problems with that model.

If you bought the part and he installed it, and it didn't work, you'd have to pay him for labor to replace it again. And if he tried to charge you to do the work twice, you'd think he was ripping you off.

Anyway, maybe he could have explained it a little better, but he was not ripping you off. There are a lot of things that the layman doesn't see that the professional encounters. His knowledge and experience are valuable. Good for you that the part worked and you were able to fix it. But think if the part was faulty, or needed something on it adjusted to work. You'd have wasted time and money trying to figure it out.

Hi!

She's In Snellville.

Hi all,

In Atlanta doing some work on my sisters' house. Appears that she has had some shoddy contractors work on it and there are several things wrong. Have to head home today and am looking for referrals to a few good people to do a few things when I can't get down here. Right now I need a drywall guy to close up some walls we had to open to fix plumbing leaks. May need a roofer - if I'm unable to get to that. She will need a good handyman for general stuff. 

Any help would be appreciated. 

Thanks! 

@Brunson Sayes - welcome! BP is a great place to learn and to get motivated. Your marketing skills will come in very handy. I recommend listening to the podcasts and getting into the forums and blogs. Lots of great info. Also, have you heard of NOREIA? They meet once a month and it's a good group for networking with other investors and also learning more about investing in real estate. If you ever want to grab a cup of coffee to network then drop me a line.

@Charles Wheeler - welcome to BP. There are lots of properties available on the WB. Starting with a multi-family is a good start. If you have any questions or just want to bounce ideas off of someone, drop me a line.

Again, welcome. And be sure to listen to the podcasts.

there are several "hot" areas in New Orleans. Depends on what price point you want and if you plan on renting or selling. Lots of options. 

If any locals ever want to get together drop me a line. I'm looking to network with others in the city. I'd love to have people to bounce ideas off of, etc. I am trying to get the organizer of one of the real estate meetup groups to organize a meeting but he hasn't yet. 

@Jeff Lee - I agree with the contrast. Weathered wood and the grey are very popular here. 

@Jake Landry - can you pm me info on the expo? I'm a contractor here in NO and might try to attend if I get a chance. It's sad to say, but as much as I travel for conferences, trade shows, and stuff, I always seem to miss the ones in my own back yard. I don't do a lot of roofs right now but am thinking that we should be due for another storm in the next few years, and I'd like to get certified before that happens.