All Forum Posts by: Jeremy England

Here is the thing.  Its hard for investors to find good reliable contractors because typically investors want to pay below market prices for the work.  

Not only that but they also want to make substandard repairs to homes with cheap materials.   

This is the generalized view of investors among contractors.  

And i also know the typical view of contractors investors have.  That is likely because you are hiring unlicensed people to do the work.  A license isnt the end all be all.  But it does give someone peace of mind that the contractor is no criminal, credit worthy, insured, and experienced.  

Stop hiring unlicensed contractors and your experience with contractors is likely to improve

A business license is not a contractors license.   The state grants contractor licenses.  Not a city or county

No collapse here in Pensacola. Neighbor recently sold for 950k

That was about 15% from their list price but still.  

But i hope oos people do steer clear of florida investing.  More for the folks that live here

I dont know about Oklahoma.  But in Florida and Alabama, if anything done requires a permit then only licensed contractors can do it.  Owner builders can pull permits if its a personal residence but not investment properties

 Id start with contacting a gc and see if you can get some hard numbers to work with

Sounds like it may be expensive Getting all those new permits and inspections.  Just depends on how much you are paying for the property to begin with.  As an investor, and not an owner occupant, you may also be required to hire a GC if any structural changes need to be done in order to get the property where you need it to be.  You say there is not enough height in the ceiling, could mean you need to create height.  Means paying to have the roof altered.  All things can be corrected with money, so it just depends on what kind of deal you are getting.  5k won't cut it. 

 How did you purchase 3?   Like what kind of financing? Down payment?  Or did you pay cash?  Congratulations on your success

 Thanks.  It is quite expensive.  I want to purchase one, i have the same concerns you do.  

Is this your first str?  Any books you would recommend on the topic?  

I saw this and wanted to ask how its going?  Are you getting the income you thought you would?  Any unforeseen expenses?

which city in east tn?  How did you find the deal?  

What did your 2022 numbers look like?  Ive heard from others vacancies going up