All Forum Posts by: Timothy Joseph ORegan

@Timothy Joseph ORegan

Also, it’s a 1%er.

Many investors criteria for a decent deal worth looking at is generating 1% of the purchase price monthly, which it does. Wouldn’t be surprised if that’s where the # came from

@Stefan Christensen

@20% down

Mortgage is 1600(including taxes)

+350 for expense mentioned, less 100 for income

1850 a month cost of ownership.

Property makes 725x4=2900

Looks like a perfectly fine deal. If you are looking at an fha it would add 400/mo(3.5 down add pmi)

I also may be missing something(I did include taxes in the above numbers)

@Zachary Dooley

The reason your agent won’t negotiate is because the only negative thing that came of your appraisal is the requirements of your loan. If you were coming with 20%, the repairs wouldn’t be necessary. Which makes it your own problem, not the sellers. A 5% discount(which is a pretty big discount) would change your agents commission by less than $100. That’s not even an expensive dinner. I’d try to understand protocol in the future before throwing out an integrity dig at your agent.

Hi guys,

I'm a general contractor out of Merrimack, NH. My businesses primary focus is real estate investment projects(flips, BRRR properties, apartment turnovers etc) We are covered with both liability and workmen's comp. Our usefulness to investors comes from our understanding of ROI and make suggestions to make you the most money. We have all of our own subcontractors for the licensed trades and can produce the necessary plans for any project. We are where we say we're going to be when we say we are going to be there. Both me and my subcontractors have liability insurance and workers comp. (if you hire contractors without workers comp and an injury happens on your investment property, you could be paying for someone's permanent injury for the rest of your life). I am also always looking to partner on flips and have some capital I could put towards projects in southern New Hampshire. Solicitation is restricted to the marketplace here, so I'm marketing myself! Let's do business!

Tim ORegan

Www.tjocontracting.com

My tenants are all up to date on rent, the current project I’m working on is a va construction loan funded so this hasn’t effected the project, tenant called me for some sort of bugs and 50 dollars worth of Home Depot esq bug treatment seems to have solved the problem!

@Patrick Flaven I will mention it to him, but I’d imagine he’s scoured the easily visible marketplace at this point

Hi guys, I’m New Hampshire’s only Real estate investment Contractor. My goal here is to pull the whole New Hampshire network into a thread! Who’s looking for property, looking to sell property? I have a customer looking for 20 units! Let’s network!

@Kyle Joseph I’m a contractor out of merrimack N.H. my website is www.tjocontracting.com and I do plenty of work for investors, typically rehabs. If you’d like to talk give me a call, can’t post my phone number on this forum but you can find it on the website.

@Mark Pemberton the spreads for a rehab budget to flip houses aren't there in the less expensive areas in New Hampshire. If you get a house in Boston for 40% off because it's a full rehab you pay say 1 million instead of 1.8, you now have that 800 to rebuild the place and make money. If you take a house that is 200 and pay 120, you will not have the money to rebuild a house and make anything. I'm a contractor in southern New Hampshire and with the current market you are better off looking at BRRR strategy properties unless you want to explore a higher spread market like Portsmouth, seabrook etc. As far pricing goes My electrician is 95 an hour, my plumber is 105, and I am 75 as well as my employees. That rate doesn't change wether you are looking at a house with the 800k spread or the 80k spread. I've personally come to the conclusion that it's not worth it for me at this moment to rehab homes, until more houses go up at rehab rate(the foreclosures ramp up)

I live in New Hampshire and am working on flipping some properties. Was curious on opinions if it would be worthwhile to become an agent to list my own properties. Also curious if anybody has done this or knows of brokers willing to work with someone in this situation. Not personally interested in becoming a full time agent, but as the license doesn’t require very much figured it would be a 25% savings on commission every time (other 75% going to both sides brokers and buyers agent)