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All Forum Posts by: Michael Stole

Michael Stole has started 70 posts and replied 208 times.

Post: network effect of your agent when selling

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Thanks to both replies.

Then what is a good measure of an agent's network? by how many transactions he had in the past 6 months? or how many years he has been in the industry?

To J. I don't know an agent who can do both well. Maybe you are lucky. One of my close friends got his license two years ago, and I know this guy is gonna put my house on top of his selling list. I am now comparing this guy to a well established agent who has probablly being doing this business for over 10 years. But he has much more houses to sell and won't give my house top priority, compared to other more expensive houses.

Originally posted by Realtyman:
In the realtor world it is not what they know, but who they know. Those with the established network are the hustlers of the office doing 80% of the deals for that office. These would be the ones you would want to hire. They would sell you the clothes off of their back whether you wanted the clothes or not. Networking hustlers get the job done.

Post: keep track of material

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

This is the first time I work with this contractor.

According to the other replies, seems I should not worry too much about this problem :lol:

Originally posted by J Scott:
If you don't trust your contractors with your materials, why would you give them a key?

If you can't trust the guys not to steal your stuff, you shouldn't allow them into the property without you (or someone you designate) be there...

Post: network effect of your agent when selling

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

I am thinking of an interesting question, which I will probablly face in the very near future. Any thoughts or comments are extremely welcome.

When put your real estate for sale, r u willing to hire an agent with a broad network (for instance, more transactions in the past, and/or good connection with other agents in the area) or a delegent agent who you know will exert more effort on selling your house? What is your preference between these two types of agents? and what are the pro and con respectively?
:roll:

Post: keep track of material

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Thanks to all ppls replying to my previous posts.
Here is another potential problem I really can not come up with a solution.

I bought all the material. what can I do to prevent my workers from steeling the material. I am not saying that they did or will do, but just in case. They hold a key, and this is the first time they work for me.

Any thought? Thanks in advance.

Post: price of a handyman

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Thats cheap also. I paid 200/day.

Originally posted by Jon Klaus:
Gene, you are paying some really low prices, especially for the plumber, but I know you've paid your dues over the last 10 years to get to your current crew.

I pay my all around handyman $120/day, and his helper $80/day.

Post: Rehab Cost Estimate

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

I got a crew to help me on plumbing and wiring, but they are charging $20 per hour per person, is that a good price? should I keep a close watch on them while they are working? or a couple of unexpected trips each day are enough?

Originally posted by Aaron McGinnis:
Candidly, there's simply no good way to answer this question. Prices will vary considerably based upon who does the work and where you're located.

If you don't already have a good relationship with a plumber, electrician, drywall guy, painter, floor guy, cabinet manufacturer, countertops, tile guy, trim carpenter, and insulation company... I'd either walk away or find a more experienced renovator to come in and help you out with the project.

I know this isn't very helpful, but you're basically asking for a full-blown quotation on an interior finish job.

To put it in another way - the house you're describing sounds like it's past foundation, framing, roof and sub-floor. In other words, less than half completed.

Post: price of a handyman

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

what is a good hourly price for a handyman to instal plumbing and eletrical wire? $20? $50? Thanks.

Post: Rehab Cost Estimate

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Hi, I am new to this forum, and am so excited to find such a forum.

I just bought a 2007 built REO, the thing is the house just has a frame, no electrical wire, no plumbing, no insulation, no drywall. Nothing interior. So could any body give me a rough idea on the cost of each project? For example, what is the likely material and labor cost on electrical wire? plumbing? Any idea will be greatly appreciated.

The basic condition of the house is as follows: 2 levels, with a full basement. Each level is 800 sqft. I plan to have three bedrooms on the second floor. Living room, family room, study room, and kitchen on the first floor. A fourth bedroom in the basement.