All Forum Posts by: James French

To get the ARV you have a few options. Talk to a real estate agent so they can provide you with comparable comps. The agent can also help you with figuring out what type of finishes that you would need to make the ARV work with the BRRRR. Make sure you are dealing with an agent that understands what you are doing and not just a first-time home buyer agent. You can also do all this yourself with doing a lot of research on the internet and being very realistic with the properties you are looking at and be very conservative on the price.

I feel this is the hardest part especially if you don't have a background in remodeling. You want to write down all the projects/task that you think you will be doing and keep breaking them down. That way you will have a price for each task. For example, interior paint $3k, new hardware on cabinets $500, flooring $2500. Alot of people will use some sort of a spreadsheet with all tasks, price, timeframe. This will also help you with a timeline for the remodel and how to structure the project that way you are doing everything in the right order. Yes, do it in the right order bc if not then there will be a lot of prep on the protecting the finishes. For example, don't install the flooring then paint the walls. Paint the walls first then install the flooring. The more you can break down the project to each task the easier it is for the price and the timeline. 

You got this! Good luck!

If you need further help DM me. I have been remodeling for almost 30 years.

You would be extremely surprised by the look. For instance, subway tiles are super popular now. Yes, you can get that in acrylic. There are multiple ways to have the acrylic it can be a precut sheet or you can get large sheets and cut them down to get the size you want. Also, if you want to add niches no problem! 

Hello Bp friends,

What are your thoughts on bathroom remodeling. I have a high-end custom remodeling background and most of my construction career I'm custom to tiling the shower/tub enclosure and walls.  The last few years I have learned a lot about bathroom shower/tub enclosures. I was always under the impression that tile was so far superior and the best product for the enclosure. Yes, the hard stone is extremely durable, but the grout lines are the problem. But the cost to install and Maintenace of the grout lines is what I don't like. 

Now I actually prefer acrylic enclosures. For multiple reasons. First, they are extremely easy to install, and a lot of bathroom companies promote a one-day installation. Second minimal grout lines, usually just at all the corners. The colors and design come in all styles. Yes, still somewhat limited compared to tile but you can still have a bunch of options.

The only problem is getting the material. For some reason the bathroom people have this kind of locked down and can be hard to get if you are not a certified installer. Me personally if I'm going to flip or keep a property and I want to remodel the bathroom the ease and cost-effective way to update a bathroom is Acrylic.

Furthermore, Acrylic is extremely durable and can withstand scratches, scuffs, stains, cracks, dents and chipping. They are quick and easy to clean. Making them ideal for homeowners and renters.

What would make a contractor better? 

I have been a contractor in the past and have worked for flippers and a few property management companies. This was a while back and I personally didn't like it because they always paid super low and wanted high quality work or to do stuff that they shouldn't do. I just listened to all the podcasts with James Dainard on how he goes about using contractors. I did like how he breaks down and uses the labor and material for his budget and a scope of work to figure out the cost. But I couldn't understand how he says that he wants to help his customers find contractors to help his clients out, but these are not the contractors your mom would use according to him. I have been in construction my whole life and I do know all the types of people out there and yes; it is super hard to find good people. But think about it for the pay that people want can they feed and support a family? I do understand that we all want to make money but so do these people. I'm a believer in you get what you pay for. Not saying all the bad construction should make money but there are a lot of good hard-working people who struggle because of the pay scale they are in.

Hello BP family 

I have been in construction for almost 25 years. I have ran framing crews, I have my General contractors license, I have also been a home inspector for about 4 years. I have built spec, track and high end custom homes from the ground up, minor to major remodeling, ADU's.

I have been studying extremely hard so I can be a REI. If anyone needs someone to walk threw projects that need minor to major remodeling or any sort of value add, let me know I would love to help out and connect with other investors in the area.

Thanks for reading.

Hello BP family

I recently just watched a live webinar with Chris Naugle. He and his team started the private money club. This seems like an amazing way for all types of investors to get financing. Did you watch it, or know anything about it? Chris seems like a great person that is passionate about helping others take control of their money. To me this seems like a great way to get money help others and yourself with money and financing deals. I would like to hear others on their thoughts because I would like to join his private money club.

Thanks for taking your time and reading.

Hello 

I live in the San Diego area. Im originally from Kansas. Most of my family lives in and around and the KC area. So I have been studying and focusing on the KC market because I'm new to REI. KC has some super great areas and bad ones too. Kansas side is more expensive but has better schools and the people are more conservative. The Missouri side has more bad neighborhoods, But they also have all the up and coming areas too. The Missouri side has most of the big attractions in the KC area. The appreciation is on the low and slow side but definitely grows. Cashflow is getting harder to find but definitely doable. If you need help with anything or want more information DM me and let's talk! Good luck.

Do you have access to the property? If so have each sub contractors walk the property to give you a quick estimate on the work, be upfront with them about what you need so you don’t waste anyones time. It may cost you a little or you promise the job to them.  If you don’t have access but want to get a close estimate I would call some big local contractors and talk with them. They won’t be able to give you exact but in the ballpark of the cost especially if they have done this before. The roof would be the easiest to get bid just send them address so they can look online to see property and the can give you their estimate. To be safe go on the high side and add a little extra. The great thing about major rehabs is the whole place will need to be patched and painted. So if the walls are getting torn up it’s going to get patch and painted.

Hello

From the pictures I would have to say its moisture from the bathroom. It could be a roof leak but if it was you would see water damage first before the mold grows. IF it was a roof leak mold will grow behind the drywall and the drywall will start get yellow indicating a leak. After that then you would see the mold growing. 

Multiple ways to treat mold and yes you should wear protection for yourself. You can get a mold treatment chemical or mix bleach and water and spray it onto the infected area. Now if this is a roof leak you will notice the drywall will have a yellowish tint. Then unfortunately you will need to cut out the drywall. Since it's in a hallway it's easy to hang plastic from the ceiling to the floor to contain the air and mess. 

Prime and paint after whatever mold treatment you have to do. 

 This is actually easy to do and not a complicated job. Worst case scenario if you have a roof leak you need to repair roof leak asap because if it is doing damage to your drywall who knows what it's doing in the attic and the framing structure. IF you have to tear out the drywall, I recommend going from wall to wall since it's a hallway and a small area. More of a mess to tear out but the repair side is way easier and usually comes out better. The matching of the drywall texture can sometimes be a hard task to do depending on the person doing the mud and texture. 

Good Luck you got this!