All Forum Posts by: Sib Bahjat

@David Niles, my contractor is dependable, does quality work, however the reasonable price is an issue. Based on 3 other bids he was more than 20% higher and he could not give me a direct answer. . I believe it warrants the question to sharpen his pencil. If he can't explain why, then I feel a bit unappreciated and taken advantage of. The good news is, he knows I buy properties consistently and if he chooses not to be reasonable with his pricing, he will be replaced. I spoke with him about this over the weekend and hopefully he will let me know by Wednesday morning. If not, there are 2 other contractors with great references I can go with. I appreciate the feedback and hopefully it will all workout.

Joe, I appreicate the information. Hopefully he will sharpen his pencil and we can continue doing business.

Hello BP family, I have used the same contractor in the last 3 rehabs in two years.. I usually have one company that handles all the rehab, instead of outsourcing sections of the project. The last few bids were a bit high versus other bids. My current contractor does a decent job and I trust him. The last bid I received last month was way too expensive. I was curious to see how others evaluate contractor's and choosing the right one to go with. I am also looking for any suggestions in reputable contractor in the DFW area. I look forward to everyone's feedback.

I appreciate all the great feedback. Sounds like you guys are doing a great job and I am sure having the wives help out, certainly makes things easier. My wife has her real estate license, so she helps me out quite a bit. @Rob K, I will pick that book up as you suggested. Sounds like a good read. Good luck to everyone and I will update with my progress.
Have a great weekend everyone!

@J Scott This is a great idea and I am sure with having the right people involved it will be very successful. Having said that, the key to success is to make sure you have a qualification process before students are given the green light. Nonetheless a great idea!

I am looking to acquire several SFR prorties in the next few months. All of my current (6) properties are located in good neighborhoods. I have minimum issues with tenants and chasing checks. Overll it has been great. I am about to leap into 10 plus properties very soon. I would like to get some feedback from folks that own 20 plus properties. I would like to know how many total hours a good self manager is involved in coordinating handyman, placing ad/signs, handling emails/phone calls, verifying employement/references, showing properties, movin in walkthrrough, chasing checks and etc...
I am looking for feedback from owners that own in all neighborhoods (A/B&C areas). Thank you!

Good morning BP family. I am placing a contract on 70 acres of land outside of DFW. It is zoned residential. It is a growing area. Few neighborhoods around the land has been developed in the last 12-18 months. This land is an REO. The price has dropped significantly. I have many options if I get this property. The minerals are sold and leased already, so I do not own the minerals. There are few gas drilling that is taken place within the land. I need to know what is the spacing laws in Texas as it pertains to gas drilling. What else do I need to be aware of as far as the land and potential issues that I may be blind to. I look forward to everyone's feedback.

I have several properties I will be submitting a contract on. Two of them are HUD homes. I have never purchased a property that is associated with HUD. What are the pro's and con's when dealing with HUD listings? How is HUD different than REO when it comes to paperwork and negotiating?

I purchased a property last month under my personal name. I just deeded it over to my LLC this week. I do understand the due on sale clause. Is the property still going to show up under my personal name, or LLC? What is the best approach to take in the future in order to avoid the same thing Don is facing? I appreciate everyone's input.

I joined LU back in 2007. I was new to real estate and wanted some guidance. For those who are thinking about joining, I will give you my own personal opinion. I am sure you can pay the $500 and attend the bootcamp and it will be beneficial. Any amount further is not worth it. I feel your time spent here at BP is far better. BP is a great community and I have met several great people here. I am sure there are LU people that will argue this, however this is only my opinion and what I experienced.