All Forum Posts by: Jeffery Waicak

@ J Scott

  Excellent point.  

@ David Dachtera yes you are correct,  if it comes down to making a deal or helping out with labor, make the deal happen. 

   Using  the $500/ hour math, you're right I would lose $480+ an hour. Using the same math, if I was able to work deals at $500 an hour for 40 hours a week, I'm making  a cool million,  and taking off 2 weeks for vacation too. I'm not, a seven figure earner yet

  As far as liability goes, you should maybe consult with a lawyer. I however don't see too much cause for concern helping sweep up, carry trash, light demo, etc

   Again,  the point really isn't the money saved. As I said if you had a hard money bid job, the bid won't change a bit. But, if you can build a better relationship with your contractors, that is where the value really is. For me at least 

idk every  flip this house  has the flipper helping with demo.  Lol.  

  But seriously,  

  Idk that it  doesent just come down to dollars per hour savings,  in truth it could be none if you had a hard dollar bid. But I 100% believe that it will help build repore' (not sure I spelled it right) with your contractors.  You go from in Their eyes a big shot investor aka the man to somebody who will help them out, especially if it was  hard money. You are improving their hourly rate. 

  It's also  educational for you. It will help you see if you're getting taken advantage of by contractors, that being said, I always think it will be easier and quicker than it is lol. But that may help you  walk on a deal because you see too thin of margins.

My answer would be if you have the time available, and want to build a team,then yes help out with anything you can. If you're too busy with other things, or don't want to or care to build a relationship with your subs, then dont. 

  I personally enjoy the work, I wish I had more time to do it. I help where I can but anymore,  I'm basically just an expediter, and even then I drop the ball more than I should.

did you get a quote  before they started? 

nice job! 5 years! That's awesome my friend!  

I've asked several people from the company the same question. At least 10. Only one said that they would take money over being treated better

I was talking the other day to a friend of mine who still works where I used to. He hates how he's treated by management,  but he loves how he's paid. I felt the same way, I left because of the treatment.  I asked him if hypothetically speaking, if all things were equal,  except another company paid 10% less, but treated you better, who would you prefer to work for? He said he would take the 10% cut no problem. I said what about 20%? He wasn't  sure about 20% but absolutely 10% would be ok for the same work load, same other benefits, same job insecurity.  Well this particular site has 110 employees. An average pay of about  $75,000 a year. So that tells me that the company could save $825,000 a year! Just by being nicer to the employees.  And  have employees that care a lot more. I think as an investor I need to learn from this, treat my team like gold. I'm not saying accept less than their best, but it serves me no good to be a jerk. 

I have some tenants that fix small stuff and send me receipts for money off rent. I think that's fair.  If there was 2 week old paint  on the house  why did he repaint? Just didn't like the color?  My thought on that would be to tell them that you can not pay for the work unless you raise the rent.  I wouldn't pay you for time and materials to add a garage on and keep my rent the same, the paint was fine it wasn't a maintenance issue. If I'm reading this right, this is their first month in the place? Set some boundaries 

imy still too far to drive easily. Awesome deal #onejealousfellow  

I'm thinking  between 4 and 20 units.  But am open minded. How distressed? I would  probably buy  one that needed anything from a total gut, rewire plumb, on up. To one that needs cosmetics. Thanks