All Forum Posts by: Kristopher Smith

Hey there BP family! I was wondering if anyone has any experience/knowledge in how to roll a 401k into real estate. We are not interested in borrowing against it. We simply want to unload it and take control of our money. Any advice is helpful. Happy investing!

lower is a big place. I live in traverse city which is a little inflated these days. If he heads further south Grand Rapids was perfect a couple years ago,(undervalued) investors have caught on and moved in but there are tons of good deals still. Metro Detroit areas like Pontiac are still good markets in my opinion. Hope I helped. If he ends up around the pinky have him look me up!

permits are required. I would also grab one to let the contractor know your serious so he won't think he can take advantage of you. These will protect you and make sure the work is being done to code. As you feel more comfortable down the road you can squeeze by without them but just remember if you have contracted work being done and an inspector drives by and sees it he can fine you for not filing. Hope this helps. Happy investing!

Is it open to all Dan?

Traverse city condo townhouse development builder or contractor needed for big time statewide investor. Please all with recommendations let me know your suggestions or contractors let me know your interest. I am sorry I won't say who the investor is but he is worth knowing and if you live in Michigan you will most definitely know the name. Those with an interest please pm me.

Sam it sounds like you are learning all the right rules to start the game. These guys are right about the FHA. I came from your position meaning I ruined my credit early on and then rebuilt after I woke up. i would suggest you learn about FICO score over credit score as that is what financial institutions take consideration of. The market is high priced so even though you are anxious just don't rush into a property that doesn't make sense cash flow wise. If you need to just build your fico, open some new accounts to boost your dti% and just analyze deals until the market drops and pounce with your new wisdom and credit built. Whatever you decide good luck my fellow investor!

you just listed 5 red flags in a row. You are not asking for an opinion you are asking for approval. Just saying. Go with your gut. We both know what your gut says I can tell by your words.

you just listed 5 red flags...just saying.

I think your business model is fine as long as you continue playing the role of gc you are just going to have to deal with these things. He definitely sounds like an explosion waiting to happen. He is acting like an employee instead of a sub. And a bad one at that. Don't let this deter you from your model just yet. This is just bad luck ending up with someone like him. Hire slow, fire fast. That is the slogan for many successful companies across the world. Now if the next I have had to fire amazing craftsman before because of their attitudes. I hire for attitude now and take a much longer time doing it plus I always get references now. Stay strong this is a great lesson opportunity. Hope this helped more:)

speaking from an electrical contractors perspective there is no such thing as insurance for uncertified work done for mechanical work and electrical. These trades take licensing and all kinds of hoops to be a contractor with them. If he is doing that kind of work he may carry liability insurance but that will not cover him or you for that matter if he is doing work he is not licenced to do. As for a bathroom remodel taking 2 weeks. I would imagine every trade including demo being 5-6 days max. If he can't work with other people than you can't grow a team around him. Just saying