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All Forum Posts by: Manolo D.

Manolo D. has started 45 posts and replied 4269 times.

Post: Finding a Investor friendly Real Estate Agent - Utah County

Manolo D.#3 Contractors ContributorPosted
  • Contractor
  • Los Angeles, CA
  • Posts 4,365
  • Votes 1,248

Did you just get off from a really expensive seminar?

Post: REI Clubs in Los Angeles

Manolo D.#3 Contractors ContributorPosted
  • Contractor
  • Los Angeles, CA
  • Posts 4,365
  • Votes 1,248

The annual membership of around 500 is more like they are making a living out of it. I dont like the idea. $10-15 to cover things. Thanks for the free one @Jon Huber !

Post: Lawndale, Los Angeles - Thoughts?

Manolo D.#3 Contractors ContributorPosted
  • Contractor
  • Los Angeles, CA
  • Posts 4,365
  • Votes 1,248

Its still an expensive place. I am doing some rehab there right now, well, one of my guys are. nothing much to say, if theres more activity, maybe it will improve. i hear there is a lot of rehabs going on at lawndale, never paid much attention.

Post: We Need Deals in Los Angeles / Orange County Areas

Manolo D.#3 Contractors ContributorPosted
  • Contractor
  • Los Angeles, CA
  • Posts 4,365
  • Votes 1,248

@Allan Glass  I have a couple of wholesalers that sends me something daily, can i schedule an appointment and we will see if there's a fit. I am also a GC that does commercial rehab, sometimes i run across something or somebody tells me something, i would like to know how it will work for me with your ND. Im not really into wholesale, but i might run into something and dont even know if its a deal. I like the idea that I dont have to work the seller too much.

@Joshua McGinnis What is your criteria?

Post: New Investor & Agent from Los Angeles!

Manolo D.#3 Contractors ContributorPosted
  • Contractor
  • Los Angeles, CA
  • Posts 4,365
  • Votes 1,248

@Blake Alexander Welcome blake! Let me know if you need my help. I will let you know if i need yours. :)

Post: First rehabs approaching - what do I need to do first?

Manolo D.#3 Contractors ContributorPosted
  • Contractor
  • Los Angeles, CA
  • Posts 4,365
  • Votes 1,248

Did you make money? Yes. Did you get education/wisdom while doing it? Yes. Do I care what you think? No. Enough said!

Post: I was wondering if anyone could help me with understanding Private Money Lenders

Manolo D.#3 Contractors ContributorPosted
  • Contractor
  • Los Angeles, CA
  • Posts 4,365
  • Votes 1,248

@Nathan Martinez  If it is too good to be true, then its not true. If they dont agree to meet face to face, then nevermind. if it walks like a duck, quacks like a duck, then it is a duck. careful on who you trust, no matter how desperate things can be. happy investing and good luck.

Post: Would like to Network with BP Members in Los Angeles/SFV Area

Manolo D.#3 Contractors ContributorPosted
  • Contractor
  • Los Angeles, CA
  • Posts 4,365
  • Votes 1,248

@Allison R. Im near sfv, welcome! you would be amazed how many people look at profiles here. :)

Post: Need advice on a potential wholesale/rehab

Manolo D.#3 Contractors ContributorPosted
  • Contractor
  • Los Angeles, CA
  • Posts 4,365
  • Votes 1,248

Keep everything at site, have one gc walk it then two more to solicit bids. have them itemize it room by room and item by item on the bid, have it written down what needs to be done per room, so when you draft contract, you can control,those costs if you need to expunge them. have termite guys come in and give quote, as well as foundation company. three bids at least is key.

Post: new construction costs for apartment buildings in LA county

Manolo D.#3 Contractors ContributorPosted
  • Contractor
  • Los Angeles, CA
  • Posts 4,365
  • Votes 1,248

@Account Closed is correct, I do have 40% discount on my plumbing and electricals from list price, sometimes more. Since I dont do much lumber, my lumber order only gets me 25% from published price. Accounting those, thats a big cut. Whenever I do everything myself and dont have subs, I pay 12-18/hr for my guys depending on experience, then 20-25/hr for state certified, then a little more for the working foreman/superintendent, so thats a big help too , but i add +35% indirect cost for my work comp, employer share and office overhead. And these builders are the same rates as me, they could get it done at 130-150, but would never sell you at that rate, just being its their direct cost.

Whats best for you is demo the existing worthless building then hire a developer to put the building there.