All Forum Posts by: Mandana Shahbazi

@mikereynolds I asked for and received copies of the receipts indicating that the joists were purchased with all the other equipment and not concealed from the owner. The first day of demolition the guy us that he would need to replace the "face boards" on the deck and it would be an additional $300. I'm remembering this now. I've researched the company and found that this individual is married to the owner with whom I've been communicating. We are very upset about this scam. We tipped him $100 after a guilt trip about how "he" purchased the joist without telling "the owner" who happens to be his wife. I don't think we have options at this point. You live and learn. I even had her sign a contractor's agreement that B. Turner put online. Now I'm realizing that "face boards" are probably part of the deck and shouldn't cost an additional $300. 

@matheusdias @mikereynolds 

Thank you both for your responses. They are very helpful. It's tough navigating this world. You want to make sure you are treating everyone with ethics. I will use the approach you mentioned if I come across this circumstance again. 

We hired a company to replace our deck surface and railing. They quoted us a fair price. Under the deck, the worker added support joists. He told me, "If you call the company, they will charge you more for this. I added them to support your new deck. Whatever you want to give me for them is fine". Our original deck did not have these but I'm not sure if he is trying to manipulate our emotions and get a big tip or is it fair. It is not a complete deck replacement. Just the surface and railing. Should I compensate him, call the company or just tip him well. Everything else has been perfect. Thanks. Please answer ASAP. 

Hi BP Community,

We are looking for referrals for Howard County, Columbia Maryland, (Just South of Baltimore). We are doing bathroom remodels, flooring work, deck repair/replacement and some minor plumbing issues. Any referrals for plumbers, carpenters, handymen, contractors would be greatly appreciated. 

Q. Jay Scott, in his book on estimating rehab costs, states that it is better to have a carpenter d the deck work, instead of a deck repair company or a handyman. What are your thoughts or feedback on this?

Q. What type of contractor would you use for bathroom remodels? Plumbers? Handyman? J. Scott seems to suggest plumbers as they have, "appropriate licensing and insurance". What are your thoughts/feedback?

Thank you for taking the time to read this and I appreciate your responses. 

Stay safe

Thank you. I'll be sticking to one agent per location. 

Is it ok to have more than one RE agent in each city that you are looking to invest in? Is there a benefit to this or is it seen as not nice?

HI-

Has anybody invested in mobile home parks? What are the questions that should be asked of the seller? City? 

Any literature references? 

Thanks and stay safe!

@John Warren Thank you very for the reply. 

HI,

We are new investors and are trying to figure out the 3rd R in BRRRR. Refinance. So, the idea is that you refinance and 'extract the equity' and use it on your next BRRRR. Can someone explain it to me simply? If I purchase a home for $50,000 using a traditional mortgage and I spend $15,000 cash in repairs and the ARV is $125,000. I can refinance for 75% of $125,000 which is $93,750. The bank gives me a check for $93,750 and I pay off the first mortgage. This leaves $43,750. Is this the 'equity extracted'? The new refinanced mortgage is paid for by the cash on cash (rent).

Am I totally off base or is this how it works? 

(Yes, we bought the D Greene book.. it's on the way via Amazon)

Thanks for helping a newbie understand this,

Antonio & Mandana

Where is the registration tab for Pro Members?