All Forum Posts by: Jeffrey K.

Late on the 5th $25 fee. After the 10th $50. After the 15th $75 and a 5 day. We have a few tenants who just pay late every month. They don't get mad becasue they know it is coming.

You have to start with late fees right away. Being nice doesnt help in this area. I charge them one the first time they are late and every time after that.

A putty knife is not the right tool. The notches are in the trowel for a reason. It helps the tile hold better. Do it right the first time or your will just be back in a few years.

A drywall knife is okay for applying seam tape. You really should have a good margin trowel also. This is the tool most of the pros use for buttering the back, seam tape, and leveling.

I used to do all my own tile. The best thing I ever did was hire it out.

Before I did that the best thing was having the right tools.

If you plan to do a lot of this you can buy a laser, a ridgid 10" wet saw, an angle grinder with a sharp diamond blade, and a standard tile cutter in the $200-$600 range with a sharp wheel.

You want to lay all of your full tiles first and then come back for your cuts. With 4x4 shower tile and subway tile you can often butt them into eachother because most modern tile have the spacers built into the tile. There will be arrows on the back and make sure they are all pointed the same direction. With the 12x12 tile you will always want to use a spacer. No matter how good you are, you are never too good for a spacer.

I have only assigned one house in 5 years because it is not what I do for a living. I am one of the larger scattered site landlords in my market. I tend to buy anything that is a deal.

I continue to tell people on this site that very few can make any more wholesaling. If you have no money, the best method to making money in getting a job. If you would like to work in RE you can be a realtor or something like that.

Traditional wholesaling is dead.

I have yet to meet a wholesaler who is any good. I am offering a 5k bonus to any wholesaler who brings me a deal in zip code 53202 or 53211.

Delondon,
Read what you sign when the bank sends you the 7 page packet to sign. They will probably never know but if they do catch you then you will be in trouble and hanging out with OJ in the big house.

If you call the "we buy houses" signs you will just get other wholesalers who have no deals. This is only good for finding someone to have lunch with and talk about you you arnt getting any deals.

Wholesaling is hard. I have assigned a property once in the 5 years I have been doing real estate. These deals are really rare. I do not have a "buyer's list," but know most of the guys who are buying with cash. I also know of almost every property that sells. If it is a good deal an investor will beat you too it. Also, most deals in my area just work for the end buyer and there is almost nevery any meat left.

Have you thought about becoming a realtor that works with investors. There are not many that are any good at this. I think there is a lot of money to be made here if you are good. I think the money in wholesaling is in selling books and courses. I am thinking that I should come out with one some day!

It his house is worth 65k and needs no work, where do you come in? No investor would buy a house at retail. If you are selling to a retail buying they would use a realtor. I guess I don't see where the deal is here other than someone wants to sell their house and you know what it should sell for?

Joel,
You kwikset and defiants are both masterable. I would get rid of the defiants when you are getting the rest mastered. It is really not worth doing it yourself but it seems like everyone here seems to think it is worth learning this skill to save a few bucks. The big box stores are not where you go for a master system. You just go to the local locksmith and have them set it up for you.

That doesnt mean you need a general. You can hire subs who will pull each permit for their trade. If you have the time, there is no need to pay an extra 10-20% for this service.

I dont know why you guys resist spending $5 more per lock. The locksmith will keep your master on file and you can just run in and pick them up. No more box of keys! That is worth a few bucks a unit.