All Forum Posts by: John Chan

Thank you all for the advices. The contractor is Darryl Brown with World Builders and Contractors LLC. I have a signed contract detailing scope of work and completion deadline. My realtor have met him in person, and this contractor also had many good reviews on google. He also sent me his company registration and insurance policy. My downfall is that I didn't check on his bond status and verify his contractor license with City of Cleveland. Lesson learned and will be more careful in the future.

At this point, I am going to have an attorney send a formal letter to cancel the contract and return part of the down payment less the work that's done. And I will follow up with arbitration or small claim court if the contractor does not comply. Collecting money is likely going to be hard as many of you have mentioned, but at least the company will have a record of legal judgement on it.

Hi BP community,

I am an out of state investor doing a BRRRR in Cleveland OH. I've purchased a property back in July and hired a contractor to rehab the unit. I've paid the contractor $12,900 for 50% down payment of the project in July, and the other 50% are due after the rehab is completed. It was suppose to be a 6 days rehab, and the contractor has done almost nothing to the property (beside painting the exterior of the house). The contractor told many lies about the rehab work is in process, but in reality there's no progression. And he is now avoiding all communications including phone, text, and email. Any advice on how should I proceed to get my 50% down payment back?

Thanks for your input in advance!

My friends and I have pooled together $90000 and would like to do a BRRRR deal by spring 2020. We live in west coast where properties are expensive and ROI isn't good, and we are looking to invest out of state. Ideally we would like to do a single family cash deal for our first property, and we are in the phase of brainstorming on which market to go into. Here are some cities piqued our interest from our research:

• Cleveland, OH
• Memphis, TN
  
• Chapel Hills/Raleigh, NC
• Dallas/Fort Worth, TX

Since we don't know anyone in those cities, we were wondering if there's a systemic way or metrics that can help us evaluate which market would be better for our first deal? Any other cities we should look into? And we were also wondering if anyone experienced in those cities can give us some insight on how these markets are doing? Thanks in advance!