All Forum Posts by: Tim Davids

sure thing Steven. Everything is in writing but they are hinting things are costing more than they planned. Welcome to business :)

Guy said he had built over 300 homes in his career so I'm sure it's an act. We have sworn statement from him and allowance details so the final draw should be fun...not :)

Current update:

Not too many complaints so far. I was really Leary building new but my wife insisted. Toughest part has been picking out finishing materials. Your never sure if the brick will look good with the siding, etc.

Biggest negative so far is our builder is really two people. One is the money guy the other the project manager. The money guy is a pain in the $&s and gives us grief over things that equal a few hundred dollars. The biggest challenge will be making them give us exactly what was promised.

thanks.

Already learned tons of things I can use in rehabbing. Hoping the builder works out to be one of my go to guys for remodeling flips.

thought I'd post some pics along the way showing our new home construction.

We bought the lot a bit over a year ago. Had the plans made from an example we found on the internet. Great experience working on drawings instead of buying already made or a cookie cutter home.

You have to network and find the good peeps.

I've been to three meetings of my local group so far. There are mentors, private lenders :) and realtors that specialize in finding deals for investors.

It really sucks :)

that deal makes me look forward to a bright future in RE investing :)

I'd bet your one of that banks' best customers (I think you said you have your other properties through them). Your getting the big advantage of being a big fish in their small pond.

Building great relationships with all your vendors is key to success. This bank trusts you and wants to get all your future business so they want to give you a good deal.

I've read enough posts here now and soul searched myself to have this idea:

It seems there's a lot of chicken and egg problems for new RE investors that are looking for experience and future private borrowing.

Short version of my idea is put together 9 newbies and 1 pro, all BP members and do a few deals together to build experience and a track record.

I'll spare you the details for now but the abbreviated version is $5k each into the pot. Buy, fix and flip a few $25k or so deals until each member has a documented track record and a nice nest egg to head off alone.

A "pro" would be on board to help and the whole thing can be a thread here at B P.

This can cure the dilemma of "I need experience to get hired but no one will hire me without experience"

The group should be as local as possible with each member committed to show up at the property at least once and to be present at online meetings.

Thoughts?

Makes great sense. I think in one of the BP podcasts someone said receiving mail to the home gives squatters the right to be there.