All Forum Posts by: Anthony Nguyen

I know it's your first flip, but speed, quality, price are the keys in order of success imo. Good luck and let us know how it goes.

Could I get a link to the meet up? For future meets. Thank ya

Welcome to BP

@Jake Glassman and @Wendy Berger

My partner is based out of Santa Monica and could help you. Send me a PM if you like.

We hold 1-2k for our projects. Like others have said up to code is for work on their SoW. I would love to with hold 10pct. at 74 flips 2015 at an average rate of 50k per flip that would greatly help the cash flow.

@Manolo D. Definitely we pay bonus days. Pre-set amounts in the contracts.

As for payment, we've done it with and without upfront/progress payments. All dependent on the relationship obviously.

Without good contractors, nobody would be in business.  

We make almost $0 upfront payments and very small progress payment. Usually 1/4. And we use that as leverage along with bonus and delay fees per day etc. If they don't like our terms, we move on. Usually they abide due to the sheer volume we crank out.

I do pro forma off of a per sf to get ballpark. Then I work backwards from there with major items such as roof and hvac. Then I will get bids on their behalf and try to beat the number we have set. All of my flips I have managed for my investors all have an A or B look which will consist of same finishes respectively.

What are you good at?

Welcome to BP