All Forum Posts by: Joe M.

I once gave a contractor half of his estimate to start a job. Why did I do that? He would show up when it was convenient or not at all. Totally screwed up the time line for our rehab (our first flip). He eventually completed a large portion of the rehab but still left us hanging. Had to find another contractor (who was a god send) to finish up the whole job. Lesson learned. Now I pay in phases. When they do the Kitchen and bath I pay for materials and only pay after that K &B phase is completed. Then move to the next phase whatever that might be.

Does the contractor just simply submit an invoice to you for materials? Or do you have an account set up w/a local hardware store and he just picks up what he needs on that account?

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Hello everyone.

I'm in the process of closing on my first two investment properties. My plan is to rent both of these out once I've fixed them up a bit. They are both single family homes.

My question as a newbie investor is to (hopefully) learn from some others mistakes from when they were first starting out. With that in mind what are some of the "mistakes" i.e. face in palm moments you've had early on in your real estate investing career. What would you have done differently? How about some of those "can't believe I put up with" situations? Time to fess up and get it off your chest! :D

Thanks in advance guys, I've really been learning a lot here since I found this forum.

Joe

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All Forum Posts by: Joe M.

Joe M. has started 29 posts and replied 142 times.

Post: Face in palm moments?

Post: Face in palm moments?