All Forum Posts by: Nicholas Field

Following up on this? How'd it go? 

Hi, I've been asked to resign my lease at a higher price. I want to put an option in it that they'll sell to me with 90 days notice on my part for a set price. 

Anyone have some wording I can reference for this in the lease? 

Thanks, 

It's wood siding. The painters were a little quick to hop on before the carpenters did some fixing of some of the siding, but I figured if they wanted to get the first coat on, what's the problem there. 

It's turning out horribly. 

First this is what I was going for:

THIS IS WHAT I PICKED

THIS IS HOW IT TURNED OUT, AND I'M LIKE NOOOOOOOOOOOOooooooooOOOOOO

THIS IS WHAT I WENT BACK AND PICKED FOR A SECOND TIME.

THE LEFT IS THE SAMPLE OF THE SECOND PICK

THIS IS HOW IT TURNED OUT. 

So, as you can see, it's not turning out well. There's a few things to unpack here. 

1. The siding wood grain is popping through. Will that go away with coat 3 or 4? Will it go away with a darker colour? 

2. I know the trim and facia havne't been painted white yet, but will that help make it look better? 

3. Was considering adding a belly board just to split it up. 

4. Any advice appreciated. 

do you have money kr you starting from 0 knowledge and 0 cash?

I have. It depends how the property is being financed. Is there a mortgage. If there is, it becomes a little complicated as a bank usually doesn't want to lend to an llc, but will, it's just a PITA to go through all that background checking of every officer of the company. 

Option 1. Property in one persons name with a promissory note for the profits at the end of the day. If you put money into the deal, then you can register a mortgage on title so they can't sell it and skip town. 

Option 2. Property is in company's name and you put together an operating agreement as to how to deal with the assets. 

Option 3. You can put both names on title and do a joint venture agreement. 

There's probably other ways, but again, depends on if there's financing and how complicated your banks will make it. 

Get 4 quotes. Take your time. Try to have a scope of work prior to having them look. Understand what your budget is. First one is a lot of learning. My first one went from $20k to $150k real quick. But that was the best $150k I ever spent, as I know how to flip houses now. ha. 

First make sure your zoning is correct and allows that. I assume it would be okay. 

Discuss fire separation. Noise separation. Fire exits / Egress . Everything you have to do to bring it up to code. 

I have a similar colour on my house i did 4 months ago and the flip i did last week. I'm in Canada but he charged me 2.50/ft in labour. The store down the street charges closer to $3/ft. 

The product I had was more expensive for sure though. 

6 months where I am. 

You can leave it if it's covered up with something new. Otherwise, get it tested if you're planning on handling it.