All Forum Posts by: Gren Thomas

Hello bp, I’m looking to start a project in a couple weeks. I’ve gathered numerous GC numbers and also vetted each one for work quality, speed, price, etc. What advice would y’all give to a beginner on how to pay, deal & manage to avoid getting screwed over?

1 Vote

Hello everyone, just wanted to get y’all’s intake on flipping at the moment. Do y’all believe now is good time for beginner Invesor to start flipping?

0 Votes

I plan on purchasing my first flip soon. ARV $200k and lower because of HML rates and points. Trying to keep the cost down as much as possible. I have been contacting multiple HML in my area and I most have been saying I need a down payment of 25k - 35k. But theres this one company who says I don't need a down payment, but I need to have 20% liquid of the amount in the bank at 3.8% points. Is this common to not have to put a down payment? I'm trying to see if there's a catch here

0 Votes

I plan on purchasing my first flip soon. ARV $200k and lower because of HML rates and points. Trying to keep the cost down as much as possible. I have been contacting multiple HML in my area and I've most have been saying I need a down payment of 25k - 35k. But theres this one company who says I don't need a down payment, but I need to have 20% liquid of the amount at 3.8%. Is this common to not have to put a down payment? I'm trying to see if there's a catch here

0 Votes

I plan on purchasing my first flip soon. ARV $200k and lower because of HML rates and points. Trying to keep the cost down as much as possible. I have been contacting multiple HML in my area and I've most have been saying I need a down payment of 25k - 35k. But theres this one company who says I don't need a down payment, but I need to have 20% liquid of the amount at 3.8%. Is this common to not have to put a down payment? I'm trying to see if there's a catch here

0 Votes

Quote from @Cristian Vences:

In Houston TX we see about the same price range. But I would just go with the 40 yard. They fill up quicker than you think. But also depends on your dumping style. I think the 40 yard is 8 foot tall. So you can't just throw things over easily. 30 yard is 6 foot I believe but don't quote me on that.

Awesome. Do you have any recommendations?

0 Votes

Quote from @Joaquin Camarasa:

Quote from @Gren Thomas:

Quote from @Joaquin Camarasa:

Hey Gren,

For me the key factors were:

- Try to get references from past people they worked with.

- Break down the progress of the work into a timeline, so you can track how they will do it and you'll know the materials they'll need to have available at each step.

- Ensure they understood how you specifically want certain things done. Triple check with them.

- Ask for price breakdown if you have multiple projects in the same house. You might find some contractors might have different levels in pricing and also different levels of experience doing certain jobs, compare, you might have one contractor that its great installing flooring and other is great painting cabinets.

I think those four points are the most important advise I can give.

Would you recommend I lean on GC at the beginning? Then when I become my experience, I start subbing out contractors myself? Th ask for the info by the way

I will clarify that sometimes you will have crews managed from a GC that can be great at some jobs but not so much at other jobs.

If you build a strong relationship with a GC, you might not even want to sub out work, if they can do pretty much everting. A solid GC it is worth a lot of money nowadays.

However, if you want to save some money, then, yes, gather experience and eventually you can have different guys you know that are reliable for different jobs and save some money. I am not sure it's worth the headache though.

Great info! Thanks man

0 Votes

Hello, I don’t know if this is a stupid question, but what’s the universal size dumpster for any remodel, from cosmetic to full gut? Better to be safe then sorry. How much should I be spending? I’m in Houston, Tx by the way

1 Vote

Hello, I don’t know if this is a stupid question, but what’s the ideal size dumpster for cosmetic rehab and how much should I be spending? I’m in Houston, Tx by the way

0 Votes

Thanks. I want to keep the rehab cosmetic as I build experience at the beginning. Do I need to draw out a plan for what exactly I need done or is everything by mouth?

0 Votes

All Forum Posts by: Gren Thomas

Gren Thomas has started 10 posts and replied 17 times.

Post: Dealing with a GC as a beginner

Post: Beginner flipper concerns

Post: Understanding HML terms

Post: Understanding HML terms

Post: Understanding HML rates

Post: Inquiry on Roll Off Dumpsters

Post: Getting Started Advice

Post: Roll-Off Dumpster Question

Post: Inquiry on Roll Off Dumpsters

Post: Getting Started Advice