All Forum Posts by: Samson Tefera

The house I purchased has laminate flooring, but the previous owner did it himself and it is not quite lined up nice, and there are a couple of areas where he used more grout that he should have and floor doesn't seem leveled. Question, whether for flip or rent, should I get existing flooring removed completely or just put additional flooring over it?

You mentioned exit strategy, is it possible to have 2 exit strategies (buy & hold, Flip) or should you pick one or the other?

I have a contractor who is insured for $1 million, bonded for $10,000, and says he is in the process of obtaining a license since he has only been in the area for 6 months. Should I be concerned that he is not licensed. I read online that if him or his other guys get injured on my property, they can sue me for any damages.

LOL @ number 3 "hostility". Thanks for the information. Also I thought it was against BP rules to ask for recommendation for a contractor, is it not?

Hi,

So I bought my very first property. I wrote down every single material I need for the rehab, and I first contacted a general contractor. He gave me a bid, but I thought labor was way too high, in other words, the total bid he gave me was double the total dollar amount I came with for all materials I need. He was going to purchase the materials himself. Since I don't have much experience, I didn't know if the number made sense. I am trying to collect more bids for comparison, but just wanted to know what BP folks thought about this.

when he first gave me the bid, I didn't have my list of materials, I pretty much told him what I wanted and he was going to pick out and purchase the materials and include labor cost to the bid.

Thank you.

What are examples of fees associated with a hard money loan when first taking out one?

Ok thank you all for your responses.

Hello I am new to this site, wanted to know what you think about using hard money for the very first flip?

Thanks