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All Forum Posts by: John Baker

John Baker has started 11 posts and replied 36 times.

Post: My real 1st Rehab

John BakerPosted
  • West Palm Beach, FL
  • Posts 36
  • Votes 1

Yeah, originally he gave me an estimate around $4700-5000, but then after much talk I got him down to $3800. I will see how this turns out, and go from there. Thanks for the help! I really appreciate it. 

Post: My real 1st Rehab

John BakerPosted
  • West Palm Beach, FL
  • Posts 36
  • Votes 1
Originally posted by @Curtis Sumpter:

Hey 1st thing 1st 

Kitchen - tell him that you will give 25% and another 25% when he's 50% done with the project it business nothing personal and keep giving him 25% until you reach that 100% and the job is done, i take it that you two never did business together this is why he's asking for that but remember he needs you, you don't need him because you can go somewhere else my advice would be until you and him can build a relationship together in your business pay accordingly !

Curtis!

 Ok, thanks! Will definitley try this.

Post: My real 1st Rehab

John BakerPosted
  • West Palm Beach, FL
  • Posts 36
  • Votes 1
Originally posted by @Gerardo Dominguez:

@John Baker  It's a negotiation just like any other.  So figure out what would make you comfortable and make sure that makes its way into the contract.  As far as the actual payments, make sure to make them in draws.  This way you're paying the contractor in installments as the project meets certain milestones.  And then you don't pay the final draw until the work is completely finished.

 Ok, that was what I was thinking to keep him motivated and not to slack off. Thanks for your help!

Post: My real 1st Rehab

John BakerPosted
  • West Palm Beach, FL
  • Posts 36
  • Votes 1
Originally posted by @Zach Mitchell:

John Baker 50% is pretty standard for something like cabinet refinishing. No reason to be concerned about that unless the guy doesn't seem professional and running a proper business. If that's the case then you shouldn't be working with him anyway.

As for your other question, short answer is yes. Just tell him what you want everything in the contract. He probably won't agree to your $100/day but at least he will understand the urgency you're trying to create.

Ok, he did seem professional, and I found him on home advisor with about close to 5 out of stars out of 4 reviews. Thanks for the help.

By the way, I'm just wondering, what would you do in a situation like mine. Would you just pay him the 50% or would you rather pay him along the job when a certain percentage of the project is completed? 

Post: My real 1st Rehab

John BakerPosted
  • West Palm Beach, FL
  • Posts 36
  • Votes 1

Hello everyone! I'm finally getting started with my 1st real rehab project, and I met up with a kitchen cabinet restoration worker yesterday to give me estimates on how much it will cost to restore kitchen cabinets. So, anyways he sent me an estimate by email and it was $3800, but he wants a 50% downpayment of $1900, which I am uncomfortable with, as I feel it would encourage him to slack off; I've seen this happen to my other rehabber friends.

My question is...Do you think this is sketchy and risky to pay a 50% deposit? And also how do I let him know that I require that the contract include penalties for not completing the work on time ($100 dollar penalty a day of going over the agreed upon completion date)? Do you think this will scare him off? I also want a start date and completion date written in the contract. Do I just write it on a word document and send my requirements to him by email and ask him to sign the document? 

I'm sorry if I ask so many questions. I'm just unsure of what to do. Any help and advice is greatly appreciated. Thanks!

Post: Does Parkinson's Law Work with Contractors in Your Experience?

John BakerPosted
  • West Palm Beach, FL
  • Posts 36
  • Votes 1

Hello everyone,

I'm currently rehabbing a house. In fact, it's my first rehab, and I just got an estimation date for how long it would take to complete the rehab, 15-20 days. I don't have much experience with how long houses will take to fix up, but I'm wondering that if I maybe ask to get it done in 10-12 days that Parkinson's Law would kick in, and they will finish faster? Has anyone tried this before when rehabbing a house? If so, how has it worked out for you? Any tips on how to maximize efficiency and finish rehabbing houses faster? Any help is greatly appreciated. Thanks. 

Post: Following Up with Sellers

John BakerPosted
  • West Palm Beach, FL
  • Posts 36
  • Votes 1
Originally posted by @Cindy Meyer:

Staying in touch is always a good idea; however, whether it is a text or a voice mail your contact will have much greater impact if you make it less generic.  For example, "Hi Mr Smith, this is Andre.  Wanted to check in and see how things are going for you and if you are still thinking of downsizing.  If so and you have not yet sold your home, I would really like to help you achieve your goals.  Look forward to speaking with you soon."   

That may be a sucky example, BUT it has been my experience that if you present yourself as being attuned to the person's needs and offering them an avenue to achieve their wants or solving their problems they will respond to you as opposed to ignoring you or contacting someone else.

Thanks for writting in.

Ah, I see. So a more custom message to their specific needs will get a better response. But it would be a pain to craft each indivdual message and send it out to hundreds of sellers. I appreciate the help. Thanks.

Post: Following Up with Sellers

John BakerPosted
  • West Palm Beach, FL
  • Posts 36
  • Votes 1
Originally posted by @Amanda Keller:

Are you wholesaling ? Sounds like a good method to me

 Thanks for writting in.

Yes, I am wholesaling. I'm also wondering. How often do you think I should follow up with sellers? Every month or so? 

Post: Following Up with Sellers

John BakerPosted
  • West Palm Beach, FL
  • Posts 36
  • Votes 1

Howdy, everyone

I have a couple of questions and couldn't find much info on it. I'm wondering... Do you think following up with a seller via text message is a good strategy? Should I follow up in different ways? Like email, direct mail, leaving a voicemail, etc. I've primarily followed up with text messages so far because it's easier and quick. Also, what should I say in my follow up message. This is what my message currently is for the 1st follow up:

"Hi, [first name], how have you been? It's Andre. We spoke about a month ago about your property listed for sale. I am just wondering if you sold it yet. Thanks! Make it a great day."

Do you think this is a good follow up message? Any suggestions and advice on improving it? Any help is appreciated.

Post: Elderly lady called me...

John BakerPosted
  • West Palm Beach, FL
  • Posts 36
  • Votes 1
Originally posted by @Account Closed:
Originally posted by @John Baker:

So, no flowers then? Should I at least leave a voicemail to follow up with the lady, and to let her know I still want to buy the house? Or do you think mail is better? What works better for you and what seems to get you a better conversion rate?

Courteous, short and sweet follow up letters work for me.  Many seniors will save every letter you send and put it in some kind of house file or to-do file.  Keep up the follow up every few months  until they ask you to stop or until the property is sold 

Thanks a lot for the advice. I will definitely implement it. Thanks once again! I really appreciate it.