All Forum Posts by: Steve Kordish

@Jeff Copeland,
Jeff, just to let you know, I spoke with Jacquie this am - great person, I can see why you referred her. Anyway, she's "checking" on things to see if they could pull a permit. With that said, see my reply to Jerry V. above. May not even be necessary. We'll see...
Thanks again - I appreciate it. Lets not be strangers - lol

Jerry V., thanks for your input. No need to sugar coat the truth here, I appreciate it. Turns out I may have been given some bad information re the buyer's insurance company not issuing coverage. Apparently they may be willing to issue the coverage, thus allowing here to get the mortgage AT AN INCREASED RATE. We were led to believe it was an "all or nothing" situation. Therefore, I will gladly offer to pay/cover the difference in rates for the first year. The 4 point inspection passed with flying colors. Best case, buyer shops the coverage and pays "normal" rate. Worst case (hopefully) I pick up the increased premium for the buyer.
Thanks again!

Hi Jeff, yes, it's been awhile. Glad you're doing well! Thank you for the referral, I'll definitely give them a call in the morning and hopefully they'll be able to help me out.
I really appreciate it - take care,
Steve

Hi Everyone, I'm under contract to SELL a property in Port Richey. Unfortunately, when the property was re-roofed in 2018 there was no permit submitted by the PREVIOUS owner. Pasco CO. requires a licensed ROOFING contractor (not a GC) to submit an After the Fact permit (property is in an LLC/not my residence). My normal roofer is out of the picture so I'm left trying to find a roofing contractor kind enough to enter the permit request online. Pasco bldg dept stated the contractor isn't attesting to the work that WAS done (no liability), just that they're submitting the permit.
If anyone knows of a contractor that can help me out I would greatly appreciate the contact
I have contacted several other roofers/contractors for referrals to no avail.

Thank you so much!
Steve

I lost my normal electrician. Can anyone please recommend an electrician for a current flip (Port Richey) and hopefully an ongoing relationship for future projects? Any recommendations are very much appreciated!
Thanks!

Hello all, I just went under contract on a home in Pasco county FL that has a report of "sink hole" activity in 2010. I have a good amt of experience with fix/flips but I have never flipped a home with a sink hole. This sink hole was never remediated and there are no visible signs of cracks, settling, etc. A written estimate from 'Sinkhole Titan", from November 2021 to pin the home, was provided to me by the owner and that cost was worked into my numbers. I'm not concerned about selling a home with a properly remediated sinkhole along with the appropriate engineering sign-off, my question is, does anyone know of an engineering firm or company that can further investigate the sinkhole to determine exactly where and how large? I'd like to find someone who doesn't stand to profit from the repair work. I also want to verify there actually is an issue, since we had a whole lot of shenanigans going on around here 2010 regarding fraudulent claims and insurance money. Once again, this house is in Pasco county FL( New Port Richey) - any referrals would be greatly appreciated!
- Steve

Congratulation, that's fantastic! In my experience, getting through the toughest times is the most valuable education we can ever receive! You will always have that to remember, especially when the next tough situation gets you down. You rock!

Learn to separate your emotional attachment to a deal from "the numbers". Stick to the $$ numbers that stay within your criteria for a profitable deal - "Know when to hold 'em, know when to fold 'em"!

I realize this thread is a little dated...All excellent comments and suggestions! Just to add...I'm fixing/flip in highly competitive Tampa Bay(Pasco/Pinellas) and one thing I've done that has shed light on what's happening when losing offers is that I've been keeping track of of each property from my offer to the actual sale. By investigating what the actual property sold for I've gotten an idea of how far off I was from the accepted offer. Nothing fancy, I just have a tickler file to check any of the sites like Realtor dot com about a month after the supposed closing. I compare the sales price to my offer and try to figure out what, if anything, I could have done to get the property while remaining true to my criteria. Maybe I was off on the ARV, maybe overshot the rehab budget, etc. Also, larger volume-based investors ARE working on smaller profit margins (from what I've seen).
Tracking properties this way isn't a novel idea by any means, but one thing that I've also learned by tracking is that properties DO fall out of contract - by keeping an eye on them I've been able to quickly get another offer in and seal the deal.
Finally, as a newer investor, maybe make a point to stop by the property somewhere down the line during rehab and meet the new investors - great way to see what they are doing and make another friend in the process. Best of Luck!!

In my post above, I mentioned I moved over seas . We moved in 2000 to Madrid when my daughter (only child) was 6 mos. old. Her NOT being in school and NOT having to give up friends etc made the decision much easier. My mom begged to differ!
The older the kids get the harder it is to move, in my opinion.