All Forum Posts by: Paul Sedillo

 Hey Jordan, Good to see your name pop up in this thread, it's been a minute since we last connected. Let me know when the next meet up is taking place, it would be good to reconnect.

Hi @Emil Pinlac,

1. If it were my investment and I had someone doing work on a property, insurance is a must. I'm not willing to take the rist of having an uninsured handyman or contractor do work for me. A handyman is great for quick and simple repairs, adjustments, and painting. When you get into structural repairs, changing floor plans, remodling bathrooms and kitchens, that's when you should be looking at a GC. There are no hard rules, but this should give you an idea of things to consider.
2. The GC will have a contract for you to sign and it will spell out the work being performed. If it is a larger project more than likely there will be milestones built into the contract - plus a payment schedule.
3. A payment schedule can vary based on the size of the job. 1/3 upfront, 1/3 when you hit a milestone, 1/3 upon completetion. Of course if it's a bigger job this might be spread out. Every GC has their own way of structuring the payment schedule.
4. While I appreciate your desire to buy materials and save money, it builds inefficiency into the project if it is larger in scope. If it is a small project this is not a problem. 

Hi @Courtlan Ross, we would be more than happy to talk with you about your project. My number is listed in my signature or you can send me a PM. I look forward to talking with you.

A couple areas worth checking on that are near Austin and might provide you with a better return: Elgin, Manor, Lockhart, Taylor,  and Bastrop. Del Valley and Buda are seeing price increases thanks to Elon Musk and his factory expansion.

Facebook wants a million square feet downtown. 

Other recent relocations to the Austin area include BAE systems, which added some 700 new defense and aerospace jobs, two new Amazon distribution centers, which brought more than 1,600 new jobs, cloud collaboration solution Airtable, Flex Health, and the online customer survey solution QuestionPro.

Tech companies aren’t the only ones who are flocking to Austin, either. Nearly 100 other companies in various sectors have announced that they are moving to the area or expanding their local operations in the coming year.

Hey @Jacoby Lewis, I appreciate you reaching out and look forward to connecting with you!

Hey @Emil Pinlac,

I wanted to share tips/considerations for selecting the right contractor for the job:

1. Hire the right contractor for the job - there is a big difference between a general contractor who understands the needs of an investor versus a handyman. While there are some incredible people out there who operate at the hanyman level, they typlcally do not carry the kind of insurance needed for this type of work.
2. Get several bids - as you're establishing relationships and building your team, it's important to get an understanding of the current rate for your market. Also, the lowest bid is not always the best option. All to often they have left something out and it turns into a change order. This adds costs to the project and reduces your ARV profit which is no bueno.
3. Vet the contractor - a solid contractor will be more than happy to provide references, show you other jobs, introduce you to investors that they work with who can talk about the work you've done. Depending on the city, they contractor should also be licensed or registered with the city where the work is being performed.
4. Get a contract in place - you want everything spelled out so there is no missunderstanding. A reputable contractor will have a straight forward contract that lists what will be performed on the job. If a change order comes up this is also covered in the contract. A change order should never be started until the investor approves the work. The contract should also spell out milestones for payments. Review to scope of work and don't be afraid to question something you don't understand or agree with - a good contractor will have no problem explaining why a line item is on the list and provide a solid explination.
5. Project materials for the job - one other consideration is having your contractor buy the materials. They will charge an uplift to do this, but keep in mind your time is money. Do you really want to make 10 trips a day to Home Depot?
6. Establish an expected update cadence - as an investor you're on a short timeline to get a property/project completed so that it can be sold or rented. You want to make sure that the contractor you select provides regular updates so you can track the progress. The goal is to avoid any unexpected surprises from popping up. Communication and transperancy.

The above is a short list of things to consider and hopefully will help you in finding a good contractor to add to your team.

@Kamil Kisielewicz

I'm a bit biased and agree with @Neil Narayan, Austin is an amazing city. My career was spent in tech and moving to Austin was one of the best decisions my wife and I made for our careers.

Recently I walked away from the industry to focus full time on my companies and real estate. Being here gives me the flexibility to work across Texas and the entire southwest, plus leverage my past life/career.

Candidly you can house hack anywhere, why not do it somewhere that you can W2 with incredible tech companies and live in and amazing city + there is no state income tax.

Our January and February are slammed and I'm bring in a team to support our workload. I'm looking for a one or two month short term rental. If you have an apartment or SFH I can rent, please send me a PM or call give me a call.

@Wale Lawal you are 176% correct. It's all about job creation, which drives buyers and ultimately deals that matter to those in real estate.