All Forum Posts by: Quentin Ambrose

 That's possible but I doubt it unless you told them you might pay for materials. Cheaper usually means

1. Misjudged the job cost (contractor error, usually results in asking for more money)

2. Desperate for the job (Usually results in asking for more money or unsatisfied client/using one job's money to pay for the next job).

3. Just being nice or that's just what they charge!

Hey Ursula, I don't think breaking down the cost is more important than detailing the SOW(scope of work). If they haven't already, ask both of them to provide a detailed scope of work and then compare pricing based on the scope they provide. If they don't want to give a scope of work that's a huge red flag. Most contractors inflate materials so if you can, pay for them yourself. 

I own a Masonry and Lawncare Company

You can definitely sell as is. Besides fixing it up that might be your only option. Depending on the extent of the damage the City/Village might condemn the property and force you to tear it down if you let it sit to long.

Hey David, as long as you flip the property it shouldn't affect your future purchase if for some reason you have to carry a loan on the property then that will affect your DTI which could potentially affect your future purchase.

As for flipping, I think you are in a good spot because you and your Dad can do the work yourself, one of the hardest parts of investing in Real Estate is finding quality vendors and contractors. Lastly, make sure you are meticulous when doing your Due Diligence a lot of investors bought properties to flip at the end of the hot COVID market but now those homes are sitting on the market or were forced to rent them. Always have multiple exit strategies!

Indiana has seen substantial growth over the last few years and home values are expected to continue to climb.

I would suggest going through the steps to make the unit a conforming unit.

Thoroughly screening every tenant should always be the standard. You risk tenant turnover in this situation but if you establish and nurture a relationship with the tenant you should be fine!

Thanks!

I've been a licensed realtor for 5 years, and our team brings 30 years of experience to the table. I love helping people find their perfect home or investment property, and I’m always happy to share what I’ve learned. If you ever have any real estate questions or need advice, feel free to reach out!

Hey @Jamie Grossman - I'm a Realtor and Property Manager in Chicago and Northwest Indiana, new to the Bigger Pockets Community but not new to real estate. I'm looking to network with investors like yourself as well as other pro's.