All Forum Posts by: Kevin Martin

@Heshel Mangel I agree with you on buy and holds. Flipping and wholesaling are day jobs trading time for money....rentals are an investment. If you hold something long enough it will pay off eventually. 

it's not a black and white answer. Depends on the customer, the GC, the project, and a lot of other variables....the best thing you can do as a GC is not work for crazy people even if they give you 100% upfront and you are going to make a killing. You can't put a price on piece of mind.  Best thing you can do as a customer is pay as the work gets done and don't let the GC get too ahead of you. Either way the one with the gold is holding the best cards....

Cheap-redo the interior sill and seal everything around the opening in and out. 

More $$$- install new window( needs to be tempered if you are pulling a permit) or glass block. Flash and seal everything correctly

Most$$$- Install tub surround fill in the opening and be done with the window. 

@Jeremy Taylor I completely understand. It doesn't make sense for you to learn excel but it is a pretty basic calculation. Send me some more details on what you are needing and I'll see if my sheets fit your criteria or I might be able to whip up something basic for you to use...excel comes pretty easy for me so I wouldn't mind helping. There are other spreadsheets you can buy online that go into a lot of detail as well. Probably the most hands off option for you. 

@Sharon Klein  ok so he was doing the work for free while you gave him a place to live? Ouch...sounds like a pretty desperate arrangement on both ends but I could be wrong. I think New York is a more tenant pro state but I know every situation is different. Do you have anything in writing stating what your agreement was? Even if you do or don’t it sounds like you need to hire an attorney to get the ball rolling on getting this guy out.

@Dan Tisser I know exactly what you are going through as I am in a similar boat. Even with a good education and nice salary/income you are still trading your time for money. It’s great when your young and wanting to conquer the world but speaking to wiser/older friends I know working like a dog gets old after a while. Even flipping, developing, wholesaling, and the other very popular avenues on this site are nothing but day jobs trading time for money. Yes you can make a lot of money with these avenues but what happens the music stops? A lot of people use these avenues to get quick cash with the intention of buying into something long term/passive but you can do the same thing with a good salary and some savings to skip the line, proceed directly to GO, and collect your $200. 

@Christopher West

Sounds like your day job eats a lot of your time; I am in the same boat. You just need to make sure the money you are working so hard for starts to work hard for you. Start slow and set an attainable goal. Like 1 deal in the next year or whatever you think you can handle. Leverage your time the best you can, ask tons of questions, and never stop learning. 

@Beth Clerc

Oh yes! This happens...it’s the risk you take in development but doing all the due diligence you can on the front end mitigates that risk substantially . I think you hit most of the key items but I didn’t see anything about Utilites?...this is hit or miss in our area and can really rack up the price or blow up a deal on the front end. We had the city tell us one thing and months later they changed their mind...long story on that one but we didn’t get anything in writing and they had some people changes. Lots of things that can happen but hire professionals when you can and maybe partner up or consult with someone locally that has been through the process. If you are really new and don’t have anyone you know then go to the city and ask them anything and everything you can...planning, zoning, building departments, fire, development, Enviromental, concurrency  ect. ect. that is there job and why we pay taxes. Yes takes a lot of time but like you said big money is at risk....

@Laurie Falk 

Linerar feet of wall x Height of Wall x 10% waste = area of material needed

Area of material needed / area of 1 piece of siding * $/piece(look up on Home Depot) = material costs

This should get you close but there may be other materials you will need. Google what it costs locally for a siding contractor or call around and ask what they charge per square(100sqft)

If it’s just a few spots you can still calculate your material costs but it will be tough to get your labor cost without someone to look at it. They probably have minimums or if it’s a small job you will more than likely get prices all over the map. Good Luck!

@Jeremy Taylor I always recommend to make your own spreadsheets. It almost forces you to understand all the numbers; you get to see how each variable affects the calculations and the overall final numbers. Also, depending on what you are doing if you get a spreadsheet from someone else it might take you the same amount of time to verify everything and make sure it’s what you need. Good luck!