Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Delicia M.

Delicia M. has started 14 posts and replied 60 times.

Post: Need Advise on Money Pit - Should I Sell As Is?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Ola Dantis Quick update... I found a new contractor. He provided an itemized list of all the items needed to totally finish the house. He’s charging $3500. Most of the supplies are in the home already. I gave him half payment. He will receive other half upon completion. If he's not done this month, his payment will be reduced. I will list it in November.

Post: Need Advise on Money Pit - Should I Sell As Is?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Ola Dantis I like this idea! I will speak with him again tomorrow. Thanks again.

Post: Need Advise on Money Pit - Should I Sell As Is?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Ola Dantis, you're right I didn't factor in contingencies and a lengthy reno (another lesson learned). Since the property is pad for and the only carrying cost I have right now is ins and tax, I'm going to secure more funds to finish the project which should take another three weeks, but I'm planning for four weeks just in case. Thanks for your advice.

Post: Need Advise on Money Pit - Should I Sell As Is?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Ben Skaggs, I spoke to the contractor. He wasn't willing to carry is labor. He'd rather wait for me to secure additional funding for the four weeks left on the project. Thanks for the advice.

Post: Need Advise on Money Pit - Should I Sell As Is?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Melanie Yamasaki I think I found a way to secure additional funding to cover labor for the next few weeks. Thanks for your advice.

Post: Need Advise on Money Pit - Should I Sell As Is?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Theresa Harris, yes I have all the materials. I just need to cover labor. It’ll take me 3-4 weeks to save up enough to cover the rest of his labor. I'm going to call the contractor today. Thanks for the advice.

Post: Need Advise on Money Pit - Should I Sell As Is?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Thalia G. One of the lessons I learned was the need for a SOW. I will complete one for next project. Thanks for the advise.

Post: Need Advise on Money Pit - Should I Sell As Is?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@David Barnett, I have all the materials needed to complete the project. I just need to cover labor costs. I will secure the funds to keep it going. Thanks for the advice.

Post: Need Advise on Money Pit - Should I Sell As Is?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Bryan Devitt based the responses I have received this far, I agree. I will finish this project. Thank you.

Post: Need Advise on Money Pit - Should I Sell As Is?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Pat L. Thanks for your response. I purchased all the materials. Now, I need to cover additional labor costs. I will stick in there and finish the project. So far, I still have a chance for a net profit.