All Forum Posts by: John Hayes

As a contractor I have worked on many 203k streamline projects. You will need to pull permits for all work that requires it or the bank will not issue any payments. This includes plumbing and electrical. Your contractor does not need to be certified but they will need to have a license, proper insurance and references for the bank to approve them

After many months of analysis I have finally sent out my first mailers. I sent 800 postcards using an absentee owners list I built on list source. I sent post cards instead of yellow letters to get more bang for the buck. Planning on 5 touches with this list over the coming months. Also working on my adwords campaigns and a new website. I will try to answer as many calls as I can. In my experience as a contractor many callers hang up on voicemails. Anyway I will be updating my progress as things happen in hopes of receiving good advice. Wish me luck

I have a homeowner looking to sell a property she has listed on the mls. She is willing to take my offer but wants to get out of her contract with the listing agent. She found me through my Internet marketing. Does she still have to pay the realtor if she sells the property on her own? The listing is 60 days old and she feels the agent has done nothing to help her sell.

thanks for the response Bill. It seems that the comps are correct. Same home, same lot size, even same school district. I'm thinking that the taxes may come down some with a grievance but not 20%. Need to keep digging

How much does property tax affect the arv on flips. I am located in Long Island and looking into a sfr with property taxes of 11k per year. That is about 20% higher than the comps in the area show. All other numbers look good but I am concerned as to if it will be an issue for potential buyers.

I would go with a pergo floor over the bamboo. Find one on close out for less than $1.50 a square foot. It will cost less and be more durable for rental purposes. Bamboo will scratch easier than you might think. Any real hardwoods will. Unless you have a high end rental unit I would think real hardwoods are unnecessary.

anyone attending the NYREIA networking event tonight in NYC?

You have to have a contract and change orders. Dont pay him until work is completed to your satisfaction. If he cant agree to that find a new handyman.

workers comp insurance for roofing can be 40% of salary. Roofing materials for a gaf lifetime roof average about $150 a sq. labor is usually around 125-150 a square for rip and reroof. The pitch of the roof is also a factor. If the roof is not walkable the price is higher. I would not recommend using a roofer without workers comp. Roofing is a dangerous trade and accidents are all to common. If the roofer does not have the proper insurance the property owner is liable.

I have a homeowner with a property in a very rough area. Do investors shy away from deals in these neighborhoods or is it the same as anything else once the price is right?