All Forum Posts by: Hugh Ayles

@Brittney Rogers

Type the @ symbol and start typing the person's name.  At the bottom of the reply box, you should see their name pop up.

When you do, click on their name.

My wife and I just joined the REIA club you work at.

@Fernando H.

One caution about you buying tile and then having someone else install it: They have no concern over waste or mis-cuts.

You should have them give you a quantity estimate, agree to a waste factor, and then hold them responsible for any material overrun.

In answering the question, knowing the level of house is helpful.  Can you get away with low end cabinets from Lowes or similar or do you need something higher end to make the project sell?

How handy are you or do you have friends/family that are handy?

Replacing cabinets is something you can do yourself if you have the ability to get the cabinets into the space.

If the countertops are a straight run, you can also find inexpensive plastic laminate counter tops and install those yourself.

I hope I am not overselling something as being easy when it may not be.  I've been in construction for 20+ years although it has always been in management and not the trades.

When my wife and I did our first (well, only one so far), flip house, we did everything ourselves except upgrade the electrical panel and service the HVAC unit.  If it required a license, we hired a licensed contractor.

We did the demo, flooring, painting, cabinets, replace prehung doors, replace plumbing fixtures, and replace electrical fixtures.  My wife had zero construction experience and was a great help.

I figure we spent $15,000 when it would have cost us $25,000 to hire a contractor.

@Brandon Turner

Sorry for the double post, but I set up key words right away.  Thank you for the reminder though.

@Brandon Turner

In 2005 my wife and I did a flip house.  In hindsight, we wish we would have stuck with it.

It was a very scary house and the neighbors came by when we were finishing and thanked us for fixing it up.

We got the idea to start back into REI about 3 weeks ago. We've already found 2 prospects, now we just have to turn them into deals! I believe you like to say "take action". We are definitely doing that. I enjoyed your presentation the other night and we signed up as Pro members afterwards.

@Bryan Hancock, thanks for the meeting tip.

@James Wise, I am glad to hear you guys started the same way and had success.

I'm originally from Ohio and still, painfully, a Browns fan.

@Eric Harris, thanks for sharing the detail and especially the timeline.

@Guy Gimenez,

We joined REINC and we attended a meeting yesterday led by Andrew and Linda.  We are definitekdefinitely trying to be active in as many groups as possible.

I've owned a business the last 6 years and appreciate the value of networking.

My wife and I are looking to be full time real estate investors by October.

We did a flip house and had a rental house in 2005.  In hindsight, we wish we stuck with it.

My wife is a Realtor and I have 25 years of commercial construction experience.

I just discovered BP a couple of days ago and it seems like a great resource.

For now I can offer a lot of construction knowledge but when it comes to real estate I am a dry sponge looking to soak up as much knowledge as possible.

Lien waivers are a very good idea.  Note that waiver language can vary by state. 

If you are paying by draws versus one payment, use the conditional waiver and then use the unconditional waiver with final payment.

Definitely get an insurance cert from your contractor's agent and as mentioned it will be an ACORD form.  Make sure you are listed as additional insured.