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All Forum Posts by: Shawn Pottschmidt

Shawn Pottschmidt has started 19 posts and replied 72 times.

Post: 20k to back out of agreement

Shawn PottschmidtPosted
  • Rental Property Investor
  • South Bend, IN
  • Posts 73
  • Votes 29

IMO form a conservative viewpoint:   Sounds like someone is desperate to get a property and could be an indicator that the market is way too hot.  Sell when others are greedy/just take the coin.

How long will it take you to make 20k on that property?

Post: How do I get accurate numbers for BRRRR analysis?

Shawn PottschmidtPosted
  • Rental Property Investor
  • South Bend, IN
  • Posts 73
  • Votes 29
Check tax info on Zillow or county assessor websites

Post: What is your “Why” for Real Estate investing ?

Shawn PottschmidtPosted
  • Rental Property Investor
  • South Bend, IN
  • Posts 73
  • Votes 29
@Alex Jones free up time so I can fly fish whenever I want.

Post: General business book

Shawn PottschmidtPosted
  • Rental Property Investor
  • South Bend, IN
  • Posts 73
  • Votes 29
Can any one recommend a general business book? I was a bio major in college and don’t know jack. Basic entry level stuff like how businesses are structured etc. Thanks

Post: Oven Range South Bend Recommendation

Shawn PottschmidtPosted
  • Rental Property Investor
  • South Bend, IN
  • Posts 73
  • Votes 29
I’ve been buying stuff at Menards in Mishawaka. Town next door to south bend

Post: $7,000 purchase, now the rehab

Shawn PottschmidtPosted
  • Rental Property Investor
  • South Bend, IN
  • Posts 73
  • Votes 29
Bigger pockets needs to give awards out to people. You should get something.

Post: How to get my contractor to hurry up

Shawn PottschmidtPosted
  • Rental Property Investor
  • South Bend, IN
  • Posts 73
  • Votes 29
We never set a timeline so my bad. We are midway through and he will get final payment upon job completion. He asked for an advance and I almost laughed. I plan to set targets and he will get a little bit coin if those get done.

Post: How to get my contractor to hurry up

Shawn PottschmidtPosted
  • Rental Property Investor
  • South Bend, IN
  • Posts 73
  • Votes 29
I feel like my contractor is holding me hostage. What is your trick, tactic or method to get them to speed things up and get done? He always has a reason for the delay.

Post: Do you use a contractor for rehabs? Why or why not?

Shawn PottschmidtPosted
  • Rental Property Investor
  • South Bend, IN
  • Posts 73
  • Votes 29
Doing most of the work on my first place was the best tuition I ever paid. Using a contractor on my second place sucks as I see so many inefficiencies and detect BS stories real quick. I will be acting as GC from now on and sub out skilled trades.

Post: Questions to ask “For sale by owner”

Shawn PottschmidtPosted
  • Rental Property Investor
  • South Bend, IN
  • Posts 73
  • Votes 29
What are your initial questions when calling the for sale by owner house? What info are to trying to glean from that first call? Thanks