All Forum Posts by: Peter Mckernan

I actually heard about this about a year ago from some investors that have a lot of properties in the midwest. There is one company that I have heard of never used Obligo, but like I said never used them. I would vet the companies and then make your decision. 

You have to have MLS access, it is information that maybe seems a little antiquated; however, it is the most exact information you will get on the comps and it will water everything down. The use of Zillow or Redfin for example are online platforms that are supposed to be easy to find a home and scroll through homes while on your phone at night or on the weekends. This information is more for quick saves, gather data about the home you maybe want to see the next weekend, but it does not give you years of data in front of you to source the out price of the home you are looking to sell. This is what the information in the MLS is so important to obtain.

You need to talk to your local GCs, they can pinpoint a cabinet shop that have the cabinets that you want for cheaper. The local GCs have the cabinet shops they go and can give you the contact. Sometimes you have to get the GC to get the cabinets cause they have an account there, but I would talk to a lot of GCs to see where to go and shop around. 

Everyone wants top of funnel stuff... leads, leads, leads... You do not pay the bills with leads, you pay the bills with conversions. 

For your post you are for sure right, the deal is working to get it with the right mindset will get you to not only grow a business but sustain a business for the long haul. 

My experience is putting a spreadsheet together for yourself is the best way to get the numbers you need, and the best way to get the exact specifics of what you like. I have taken other spreadsheets added to mine and consistently developed mine into a solid functioning spreadsheet that I like. The BP calcs are great for people that are starting out and even using them as a second or third look at your deals with the numbers that are for the deal you have/doing. But just a like the saying measure twice cut once, do the same on your numbers for the deals you buy.

I would get a few quotes from a couple of smaller guys that are one small crews that are putting up the roof and licensed along with bonded. These are going to be the best to get the job done. If it is a bigger company the higher the bid and higher the overhead that will push the numbers up pretty high. 

Hey Virgil, bust move is to get an idea of what the rehab is by your own experience looking at the property then having your GC come out and do a full scope. This is key to minimize not going over a budge you set for the project. If that GC does not get to the site you maybe paying a lot more than expected. 

An easy one I used for a long time www.mysmartmove.com. There are a ton of options out there and another one is rent spree. Make sure you have the tenant, or prospective tenant pay for the background/credit check. 

There is more inventory now, more like a 2019ish market.. Nationally about 2 million listing across the board. So I would drop the price again. The market was hotter earlier this year and started to go down on the demand the later the year got because of inventory and rates still being high. 

If I am reading this right you are still in the black for profit, all in $277,500, and with sales fees if not added $18,750... $296,250.. Then your profit is more than 10% at a sales price of $350,000 (not taking into account holding costs). 

This is by far finding deals and working on the marketing to get better spreads on deals. The operations is great to handle yourself when you are small, but can be such a time suck when you start to get busier with more projects. The best use is marketing to get more deals and refining the marketing more and more.. The other one is deal finding and negotiations. If you have marketing and negotiations down that will bring you the best value of time for you and get you more deals in the pipe. The day-to-day I would find someone you can pay at a lower amount to be a PM for you, and then when you get really busy you can knock down more deals and higher someone expenses to fill that role of the cheaper labor.