All Forum Posts by: Kyle Blake

We always have the plumber tie into the house and run it to the backflow. I do commercial irrigation, and you don't want 99% of irrigation guys sweating pipe and running it from the house. I've had to fix many issues from so called pro's. 

System is a little wonky and wont let me send a message after doing a colleague request, shoot me a message and I'll give you their info. 

I have two I can recommend who do great work, but they aren't cheap. 

I've worked with them here and have routinely found their numbers inflated and they bank on bidding wars among investors to increase their profits, while you will be hard pressed to make any. Their loan service is required if you want access to their prime deals, but given what I've seen, those prime deals would have the better profits eaten by the higher loan terms. 

To piggy back on this, what would you do as an aggressive strategy with the following info:

-Live in a state over saturated with flippers/wholesalers (I've looked at probably 40 deals with fluffed up numbers) and expensive buy and holds

-Have a fairly flexible schedule, meaning can invest in other areas, be hands on.

-FHA not an option as I own a home that is increasing value pretty quick in this market and will turn into a rental in a year or so, don't want to mess with that.

I'm leaning on either trying notes (performing or nonperforming), buying and rehabbing a rental in another (cheaper) city, buying and rehabbing a multi-family in another state. 

@Shiloh Lundahl

Tact isn't my strong point at all, and I think that is obvious, haha. I try to assume the worst case in everything and I still am stuck eating $3k I shouldn't have to on this last flip, as of a few hours ago. But no such thing as a free lunch as we all know. 

If you're looking to invest again, I'll be looking for another flip in a few weeks, haha. 

@Shiloh Lundahl

Good to hear you're making sure you're whole first and foremost. However like Jay mentioned, I wouldn't even consider this guy getting another penny. Delete his contact info and just chalk him up to a bad learning experience. Incompetence and greed is the underlying issue of the entire thing, and that is the point of contention for myself and a few others (I think). 

He's an agent, and also a (supposed) experienced flipper and yet he did everything wrong or half ***. He caused you a loss and really doesn't seem to care the bind you were put in. He failed to meet the terms and when that happens, you don't reward bad behavior. Good intentions don't mean anything when you're too lazy to run comps (when you're a realtor, let alone a flipper, this is ridiculous), and produce a poor flip. He should be grateful he got to walk with those commissions. 

I would have the houses completed correctly, get their true sale value, and when they are sold, and you're a 100% reimbursed (as stated in the contract) then maybe (and only maybe) should you consider giving him another dime. Business is just that business.

@Shiloh Lundahl

Without question I would tell him to get bent. He took advantage of you and created these additional cost. He can deal with that himself. I would have laughed and hung up on him. 

@Shiloh Lundahl

Being you are the money, I would push to get these sold as soon as you can. I'm kind of shocked this wasn't addressed early on instead of him dragging this out for months on end. Sounds like the guy is a bad agent (way overpriced and oblivious to this) and cut corners on his rehabs. From the sound of things, there is zero chance of these selling around this price point, and would be looking to get out of them as soon as you can. 

Between holding cost (ridiculous he wants you to pay addition) and money being lost by the day, I would demand it be lowered. Maybe you can locate an agent that would give you an honest price assessment on these places. 

Edit, if you can get the deeds, I would certainly go that route and either sell or turn them into rentals if the areas support this.