All Forum Posts by: Martin Neal

@Kamran Rahman Associations are typically responsible for everything behind the drywall which includes insulation and the studs. Depending on what your by-laws say, it’s your responsibility for the drywall repair portion. So if you are looking for something in particular for them to do (remediate the mold, check studs for damage, etc.), you should express it to them.

@Brie Schmidt I agree. I accept everyone except smokers because it’s not a protected class.

@Aamir Shah If the issue is money and not deal flow then I would suggest leveraging your capital more. I've been BRRRRing with 100% of my own funds but I plan to BRRRR with only 10% of my funds per property moving forward. I found a lender who lends 90% purchase and 100% rehab cost.

@Joseph Cornwell Great Job!! Win win situations are the best!

@Brian Fuerle You can’t discriminate against them by saying no section 8 but you can choose another applicant for other reasons. You can accept applications from everyone but here in Chicago the section 8 process is very long (6-8 months). I typically say in my advertising “property is not section 8 approved at this time” or “will accept section 8 but property has not been approved.”

Hey everyone,

I am looking for a change order form. I have a contractor that I typically give one task, and as the project develops, we either make changes or add on items. Can anyone suggest a good form to use is this instance?? I was looking in the file place but couldn't quite find what I was looking for (or did not know the name of the file).

Thanks in advance.

@Alexander Felice I tried this method on my most recent purchase and was shut down by the closing agent. He told me that I needed to provide the funds up front and they would be dispersed to the contractor. Then he told me that anything that goes on the HUD I must have proof (i.e. an invoice). He was willing to put the insurance on the HUD because I had a receipt but was reluctant to do so. I showed him your article (as well as my attorney) and he still refused. He said it’s an very unusual request and due to federal laws, I needed some form of documentation for anything extra being put on the HUD statement. I tried to explain it as best I could but considering it was my first time, I didn’t win. If you could give further insight on how this is supposed to work I would appreciate it. FYI this was in Chicago at First American Title.

@Israel Torres No I haven’t. I will try that. Thanks.

@Alexander Felice I found the article you wrote from 7/17. It’s funny that I read that article before but I read it too late! Great information. Thanks again.

@Alexander Felice send me the link so I can read up on how exactly to do it please. Thanks!