All Forum Posts by: Robin Frazier

I would venture to say that bathrooms are about half of what a kitchen costs per square foot. Less cabinets and counter space are the biggest difference. 

I found a local cabinet builder that builds cabinets for less than any big box store, but he doesn't use any particle board, only plywood for the backs and sides. The only drawback was that I had to have them finished. So check around and find someone local that wants to work.

Never stop looking for contacts by networking, ask for the people you need, someone knows that person and can refer them to you.

Good Luck

1. Get his references and verify them. Ask open ended question.
2. Never pay for any part of the work up front.
3. Never purchase the materials for the contractor, because they can claim they are your employee and not a contractor, then you could be liable for them and the withholding taxes associated with having an employee.
4. Ask to see some of his work. If a former client is happy with their work they may be willing to show it off.
5. Take your time and vet them carefully.

Hello BP

I wan't to ask a financing question because I have been unable to find funding for my deal.

I own a Large building in an older neighborhood with no restrictions. I want to turn the building into a 6 unit apartment building. I live in one  unit and want to split it in half and rent the upper floor, and build out 4 more units in the unfinished area that already has a roof , exterior walls and concrete foundation.

By my estimation I need $275,000 to do the build out. According to Rentometer each unit can be rented for up to 1200 per month on each unit. 

I am prepared to move out if I can secure the loan to build, but would rather stay to oversee the work. 

Any advice from seasoned investors?

No actual experience, my wife is from the Philippines. I do know foreigners can't own land but you can lease it and own the building, or you can form a corporation with 75% Philippine ownership and the corporation can own the land. As for financing, I haven't found any source for it.

If you set your goal to 2 and do 2 deals that's good, but if you set your goal to 10 and do 5 deals, that good times 2 1/2.

Dream big or settle for mediocre. 

Anyone know of a mastermind group in Baytown Tx. 

I have always wanted to be a part of one so I can absorb ideas and techniques on all things real estate.

If there is not one, is there anyone who is interested in starting one?