All Forum Posts by: Rich Ramjatan

@Eric Malone

Simple , just demo the pool, it’s above ground , just include that in your offer price . If it was in ground, then I would probably walk away or my offer price would include to demo the pool .

@Katharine Schmuff

Well said . I am GC and I’ve been called numerous times to clean out other peoples work , even from so Called contractors. Not all contractors are the same .

Bret, do you mind sharing what specific questions you asked your lender to see if they would work with you on this?

I read the entire post Page 1-13 , and it seems the only issue that I could potentially face is if the lender ask why my LLC owned me funded the purchase. How do we answer this question to the lender ?

Congrats! 

@Taylor D. Jenkins

If possible , why not self manage your first rental just to feel things out and see if it’s something you can manage . There’s plenty of resources online teaching you how to. You’ll probably make a few mistakes along the way, but hey, we have to start somewhere . Maybe you’ll like certain parts of management, maybe you don’t .

By no means this is the way to scale , but being it’s your first property, I say give it a shot . When time to hire your first PM, you’ll know exactly .

If you have someone valuable like that, Pay per job. It works out better for both parties. Supposed you dont have the leads for him for a few months? Then what? You keep him on Payroll and still pay? Once he becomes an employee, expect his production rate to drop, his payment is now guaranteed regardless of his production. Once hourly, you baby sit them in a sense. 

On The flip side, I am contractor, and I pay hourly wages.

Conventional Financing would typically offer 20-30 years fixed Rate .

Balloon would reset after the Term Period , Typically, 3,5,7,10 - Often Found on commercial Mortgages .

Im not expert, but this is my understanding of it. 

I suggest you read up more on Mortgages and how they are structured. Once you do, you will understand how the word balloon comes into play. 

@Kenneth Hynes

Vinyl over them , refinish for resale .

@Ray Jhala

Any vacant property in the winter should be winterized .

Reach out to Alliance , I spoke to a lady last week that will do a 70% LTV Helcoc on Investment properties.