All Forum Posts by: Nadiya Lonkevych

@Russell Brazil thanks! ❤

* typo: one contractor was great, the other was not.

My husband and i have successfully completed two flips with a help of general contractors. Two different GCs, one was one, the other was not. But with fairly good margins we were able to profit on both. So naturally we decided to up the game and manage our own subs. We are also focusing on building a rental portfolio and doing fewer flips. The challenge comes not so much to finding people willing to work on our terms (pricing, payment upon completion of a task and learning some time saving techniques) but rather being able to hold/keep them long term. We have an ability to provide continuous work since we have 3-4 houses under construction. Always pay on time, as agreed. Our guys seemed to be happy ... until one day they simply didn't come to work and stopped answering the phone. We try to communicate their challanges and make sure the process works for all of us. But still they leave and we don't know why. I would appreciate any tips from experienced GC on building teams that last longer then a few months. Right now we have some guys who like to be paid per day and some being compensated per task.

@William Collins

Since it's been several months since the initial development of the story I am wondering if thisgot anywhere close to fetting resolved? Please post an update. Thanks!

Hi! 

I'll be happy to be your property's photographer!
Image is everything — literally! :)

www.realty.nadiyaphoto.com

Hello,

Looking for a RE agent licensed in Maryland to purchase flip properties. Does anyone have any names to share?

Thanks a lot!

I agree with Russell — I would try to talk to them on the phone (if possible) and find out how long the average length of stay per person would be. And adjust the price accordingly. Month-to-month rates are significantly higher. They probably have an office in the US and send their employees on (hopefully) long term business trips.

On the other note I would do as much researching on the company as I could given that the person staying at your house is a foreigner with no credit history. You also probably won't be able to verify their criminal record or do any kind of background search... And being 600 mi away from the property may give you quite a bit of anxiety! 

Hello,

I am Nadiya and here's my story.

My husband and I are exploring our options for acquiring our next property. We are looking for a flexible lender who would consider refinancing one of our houses, cash out and use the money towards the next purchase. We purchased a single family house in Ellicott City, MD 2 years ago, gutted and rehabbed it. We split the house into two units, occupying one and renting the other one out. The house sits on a 41k+ sf plot that can be divided into two (R20 zoning). We already spoke with the county about this and got some initial quotes from several engineering companies. As I mentioned before, the house has not been paid off, but we should have quite a bit equity in it, my guess is $100-150K. 

Here's what we would like to do. 

1. Refinance to cash out AND get a permission from the lender for subdivision; 
2. Obtain a new construction loan to build House #2 on the second plot. This ideally would be our new primary residence, and both units in House #1 will get rented out.

As I was trying to educate myself on Google, I could not find any meaningful information whether you can proceed with subdivision while you're still making mortgage payments or not. Has anyone done this before?

I would also appreciate getting contact phone numbers of lenders that would work with us.

Thanks a lot!

Hi guys,

We made an offer on a very old house and it was accepted. There's quite a bit of work to do, and we are financing it with a 203k loan. So we are looking for an FHA certified general contractor to orchestrate and execute the project. Please share if you know reliable and not-too-expensive GCs or know a good place where to find them. Angie's List wasn't too successful.

Thanks a lot! I appropriate any input!

Happy 4th everybody!!

Wow, it's incredible how much more there is to learn once you actually start the process… zoning, county regulations, permits, licenses, subdivision possibilities…. it's endless! BUT, once you're in the game, there's a timeframe for just everything you do, and it's an amazing motivating factor! I feel like I learned more over this long weekend than over the past 4-5 months!

I'll post all the details as soon as they become available. Thank you guys for great support!