Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Jodi Marsh

Jodi Marsh has started 5 posts and replied 35 times.

Post: Rehabs cost prohibitive or cant find anyone to do the work?

Jodi Marsh
Pro Member
Posted
  • Title Representative
  • Morgantown, WV
  • Posts 40
  • Votes 3

This is great feedback at least it's not just me, I knew something was going on. What to do about it especially on small budgets!

Post: Rehabs cost prohibitive or cant find anyone to do the work?

Jodi Marsh
Pro Member
Posted
  • Title Representative
  • Morgantown, WV
  • Posts 40
  • Votes 3
Originally posted by @Eric James:

In my area there's some of that. What they charge commonly comes out to $200/hour for labor. The contractors are also unreliable and Le. For these reasons I have hired my own crew of guys (currently at 5) to work for me in my BRRRs. I pay them well but still have great savings over hiring contractors.

I was thinking of doing the same thing do you mind sharing how much you pay them and how you found candidates? My fear is not having enough work for them though as I'm just starting 

Post: Rehabs cost prohibitive or cant find anyone to do the work?

Jodi Marsh
Pro Member
Posted
  • Title Representative
  • Morgantown, WV
  • Posts 40
  • Votes 3

I purchased a small house and dont need a ton done but I'm finding every contractor and even handyman I get to come out are giving g me estimates that are just a joke-even considering the cost increases of materials. I'm talking more than I paid for the house, to the point that if everyone is paying these prices noone would be making money so it just cant be right. For a few reasons I'm wondering if I'm being taken advantage of? Anyone finding they cant get a project off the ground due to everyone having too much work plus price gouging?

Post: Real Estate Investing in WV

Jodi Marsh
Pro Member
Posted
  • Title Representative
  • Morgantown, WV
  • Posts 40
  • Votes 3

Hi @Breanna Boggs  I'm also in WV, Morgantown area! Where are you?

Post: Pointless to apply for EIDL loans right now

Jodi Marsh
Pro Member
Posted
  • Title Representative
  • Morgantown, WV
  • Posts 40
  • Votes 3
Originally posted by @Ujwal Velagapudi:

Where did you see that it is $1k per W2 employee? That kind of limit will hurt a lot of RE investors, most are 1 person entities. I applied about 10 days ago with no response still. 

Hes right, I got 1000 day before yesterday and I applied March 29th. I received an ail.from the SBA explaining it was now 1000 per employee. 

Post: Should I refi now or when things get back to normal?

Jodi Marsh
Pro Member
Posted
  • Title Representative
  • Morgantown, WV
  • Posts 40
  • Votes 3

This isn't really advice one way or the other, just relating my recent experience. My husband and I refinanced our private residence. I got a loan estimate with one bank back in February. I locked in 2.875% then they took forever to close and were busy so I thought I'd try to get competing offers especially after hearing the benchmark rate fell to zero. When I approached my then note holder he said they couldn't go lower than like 4%, this was last week. He said banks were actually raising rates slightly across the board due to default risk associated with corona. So we closed with the original bank Friday. 

Post: Poll: who received their 10,000 EIDL advance and when did you app

Jodi Marsh
Pro Member
Posted
  • Title Representative
  • Morgantown, WV
  • Posts 40
  • Votes 3

I'm starting to think nobody received one! So much for 3 days...

Post: Attn: SBA Disaster Loans for Landlords

Jodi Marsh
Pro Member
Posted
  • Title Representative
  • Morgantown, WV
  • Posts 40
  • Votes 3
Originally posted by @C. Scott Forrest:
Originally posted by @Jodi Marsh:

 When did you apply? I applied march 29 no word on the 3 day advance (obviously not 3 days!) No word on any of it yet. Currently on hold with the sba help line numer 1,444 caller in line. 

I applied for the $10K grant on March 30 and have heard nothing. I called over the weekend and they said it had been changed from '3 days' to "days". She wouldn't commit to anything else. I hear the website has also been changed from '3 days' to 'days'.

I applied for the standard Disaster Loan the day Washington was deemed a disaster (March 22?), so a while back. At that time you could still call in and talk to people - those days are long gone.

 I see! Thanks for the reply. Wanted to make sure I didn't do something wrong. I also called twice since applying and got a person right away...not now! Noone I personally know has received tje grant and I'm starting to wonder if anyone anywhere has!!

Post: Poll: who received their 10,000 EIDL advance and when did you app

Jodi Marsh
Pro Member
Posted
  • Title Representative
  • Morgantown, WV
  • Posts 40
  • Votes 3

I applied twice March 29th, once the "long" way and once again after the streamlined version came up. No word on anything!

Post: Attn: SBA Disaster Loans for Landlords

Jodi Marsh
Pro Member
Posted
  • Title Representative
  • Morgantown, WV
  • Posts 40
  • Votes 3
Originally posted by @C. Scott Forrest:

FYI - I received my loan document package yesterday for a normal SBA Disaster loan (haven't heard back on the grant application).

Someone asked previously how you indicate how much you would like to borrow.  Answer: you don't.  They approve you for a certain amount and then you take whatever portion of that amount you need.  I believe mine is standard: 3.75%, 30 years, first $100 payment due 12 months from loan date.

Good luck everyone.

 When did you apply? I applied march 29 no word on the 3 day advance (obviously not 3 days!) No word on any of it yet. Currently on hold with the sba help line numer 1,444 caller in line.