All Forum Posts by: Matthew Holland

Hi BP Team,

I have a question related to my recent bathroom addition & kitchen remodel.  I hired a contractor for the project and we spelled out all of the different items that I wanted them to complete.  Two of the items in the contract were the following:

• - Client to Reimburse for all Permit Costs
• - Contractor responsible for obtaining all permits.  Contractor will complete the permit process and get all necessary inspections

I just got a final bill that was quite a bit higher than expected.  $1,300 of it was due to architect costs.  They are saying that the architect services fall under the category of "permit costs".  Based on the language above in the contract, would you say it's reasonable for them to expect me to pay for the architect costs?  

I had also provided plans and drawings prior to the start of the project.  In total the project was fairly large - around $40k cost ($30k of that going to this general contractor I mentioned above)

Was hoping to get the BP communities feedback on this.  Thanks for all of your insights!

Hi Ned, which site do you use to auction off the properties?

I'm about to start the foreclosure process on a property in Pinal County, AZ.  Will let you guys know how it goes!

Hi BP Community,

I started buying tax liens 3-4 years ago in a few different counties.  One of the tax liens that I purchased 3 years ago in Pinal county (AZ) had a 3 year redemption period and is now on the foreclosure date!  I hold the first lien position on the property and have the right to foreclose on the property if I pay off all of their property taxes.  The property taxes would cost around $3,000 and the lawyer would cost around $2,500 to foreclose on the house.  

I'm wondering if anyone who has been through the tax lien foreclosure process can share some details on their experience with this?  Are there any actions you can take to make sure the process goes smoothly?  Any way to minimize risk that the owners won't damage the property before moving out?   Is it recommended to pay the current owners if they agree to sign a title transfer form and vacate the property?  

Any advice would be much appreciated!

Matt

I'm planning on doing some rehab projects and am Looking for Contractor / Home Inspector in Cobb County, Georgia.

@Kellen King - I'd highly recommend the BRRRR tools that Adam Jason put together. He is an expert BRRRR investor as well as head of legal for a real estate investment firm, having over 10 years of deal related experience under his belt.

Using his legal expertise and BRRRR experience, he put together a a "BRRRR Deal Package" which consists all of the tools and legal materials to go through the entire deal process. Everything from:

(1) contract a property manager, (2) analyze lenders apples-to-apples, (3) engage your contractor (and I've even included a document for your contractor to use to provide you itemized bids on work - no more guessing what you are paying for), (4) a lease agreement, (5) a "checklist" of business incorporation items to launch your real estate LLC and (7) even a BRRRR deal analysis spreadsheet so you can know right away if you'll be making a great deal.

These legal docs are enforceable in all States. It was immensely helpful for me to start my first BRRRR.

DM me if interested - I can give you an intro and likely get you set up with a trial of his deal package.

Hope this helps!

Hey @Robert Blazer IV, for first starting out, I used some BRRRR tools that Adam Jason put together. He is an expert BRRRR investor as well as head of legal for a real estate investment firm, having over 10 years of deal related experience under his belt.

Using his legal expertise and BRRRR experience, he put together a a "BRRRR Deal Package" which consists all of the tools and legal materials to go through the entire deal process. Everything from:

(1) contract a property manager, (2) analyze lenders apples-to-apples, (3) engage your contractor (and I've even included a document for your contractor to use to provide you itemized bids on work - no more guessing what you are paying for), (4) a lease agreement, (5) a "checklist" of business incorporation items to launch your real estate LLC and (7) even a BRRRR deal analysis spreadsheet so you can know right away if you'll be making a great deal.

These legal docs are enforceable in all States. It was immensely helpful for me to start my first BRRRR.

DM me if interested - I can give you an intro and likely get you set up with a trial of his deal package.

Hope this helps!

@Brandon Ramsay I'd say it really depends on the deal. Depends on how much the bank will appraise the house for, how much money you can pull out vs. what the property would sell for. If you have a very good lender, I'd go with the BRRRR strategy.
I have a deal analysis tool that I use that helps me analyze both options and compare.  It came with this "BRRRR Deal Package" which consists all of the tools and legal materials to go through the entire deal process. Everything from:

(1) contract a property manager, (2) analyze lenders apples-to-apples, (3) engage your contractor (and I've even included a document for your contractor to use to provide you itemized bids on work - no more guessing what you are paying for), (4) a lease agreement, (5) a "checklist" of business incorporation items to launch your real estate LLC and (7) even a BRRRR deal analysis spreadsheet so you can know right away if you'll be making a great deal.

Let me know if you are interested in the tools and I can share.

Hey @Otis Bevel
I'd recommend connecting with my colleague Adam Jason. He is an expert BRRRR investor who put together a a "BRRRR Deal Package" which consists all of the tools and legal materials to go through the entire deal process. Everything from:

(1) contract a property manager, (2) analyze lenders apples-to-apples, (3) engage your contractor (and I've even included a document for your contractor to use to provide you itemized bids on work - no more guessing what you are paying for), (4) a lease agreement, (5) a "checklist" of business incorporation items to launch your real estate LLC and (7) even a BRRRR deal analysis spreadsheet so you can know right away if you'll be making a great deal.

These legal docs are enforceable in all States. It was immensely helpful for me to start my first BRRRR.

DM me if interested - I can give you an intro and likely get you set up with a trial of his deal package.

Hope this helps!

@Riteash TiwariHey @Riteash Tiwari
I'd recommend connecting with my colleague Adam Jason. He is an expert BRRRR investor as well as head of legal for a real estate investment firm with over $80M in completed transactions, having over 10 years of deal related experience under his belt.

Using his legal expertise and BRRRR experience, he put together a a "BRRRR Deal Package" which consists all of the tools and legal materials to go through the entire deal process. Everything from:

(1) contract a property manager, (2) analyze lenders apples-to-apples, (3) engage your contractor (and I've even included a document for your contractor to use to provide you itemized bids on work - no more guessing what you are paying for), (4) a lease agreement, (5) a "checklist" of business incorporation items to launch your real estate LLC and (7) even a BRRRR deal analysis spreadsheet so you can know right away if you'll be making a great deal.

These legal docs are enforceable in all States. It was immensely helpful for me to start my first BRRRR.

DM me if interested - I can give you an intro and likely get you set up with a trial of his deal package. 

Hope this helps!