All Forum Posts by: Nancy Allen

I don't have direct access to the MLS...but I do find it interesting that, of the 50 odd deals I analyzed on Realtor.com and Zillow today, the only ones that had ROIs above 10% were already pending. Not that I'm a conspiracy theorist, but it would seem some folks have access to critical info before the rest of us.

Wow!  Aaron...thanks for the comprehensive answer...final question...how can I get you to crew my rehabs in CO!

I have been reading the posts about working with contractors and would like some additional information on:
- What are some key questions to ask a contractor you are considering for your project?
- What red flags do you look for in the contractor's responses?
- How do you validate a contractor's materials list to determine reasonable cost?
- How are surplus materials handled? Do you seek reimbursement from the draw request on the last payment?
- What should I expect to pay in advance? Material? Labor? Both?
- Is it standard practice to as your contractor to provide a draw request prior to material and labor payment?
- What process do you use for paying your contractor i.e. draw request on the 10th, payment on the 15th? Last payment 5d after completion?
- Do you ask your contractor for a lien release waiver prior to the last payment?

Thanks for your help, your experience is invaluable!

Mike & Nancy Allen
New Story Properties