All Forum Posts by: Timothy Maldonado

Welcome to BP Justin!

Definitely attend some biggerpocket meetups. If there isn't any in your area then perhaps it's a good opportunity to start one. Good luck to you on building your team. Keep us posted on any new developments.

I like it. I agree on what's been posted above in regards to the utility expense. Good job on thoroughly listing the items. 

 Actually they really should've. Well we'll see with the new owner of the revel will do. They're looking to open this year - I believe. It's currently called Oceans Resort and they're hiring right now. I've been in the building about a month or 2 ago to price out work and it's actually still functional. If they had employees now they could open up quickly. 

So I'd advise that if you're interested in AC, start paying attention to the changes. Set your google alerts to it.

Thanks @Joe S. for the topic.

I have interests in the Gardners basin area for a long time. I have friends who own property there and like the location because of what you have mentioned above. I want to add that there has been proposals to bring in more business to gardners basin. I also know that the boardwalk that is being rebuilt and extended to gardners basin will have security cameras covering the boardwalk and the streets leading to it. An article came out last fall showing that the newly installed cameras on the boardwalk and the ones covering the streets connecting have lowered the crime in said areas. So extending it up to gardners basin is a good play for future events, business, tourism and safety.

Thanks @Steve Boianelli. Hey @Francis Sirch, I'll message you privately to inquire further on the project.

That's Awesome! Hope you get what you ask for. What's the next step after you guys sell the house?

Sorry, won't be able to join this fantastic event. I have my last real estate class and want to finish it once and for all. If it's possible, can someone provide me meeting minutes on the event. I'm heavily interested on the topics you guys will be discussing.

Thank guys, and have a good time.

A day after valentine's day? Nothing says I love you like, hey let's house hack together. <3

I agree with @Account Closed here. As an estimator for a commercial contractor you want to follow those criteria listed above. This allows better transparency between contractor and customer, but also gives them the information to compare other contractors and see if they have it in their scope of work. You want to be in the apples-to-apples comparison as best you can. This is very important on both sides of the field, because once the estimate has passed through these criteria, then it's good to have it as historical data for future projects out to bid. 

The site visit is very important to see how a contractor retains all information during the visit and how it's recorded. I bring all necessary measuring tools, my tablet, and a digital camera. There are good experienced estimators that can do this on the fly, but if they're not documenting themselves it becomes tricky if an emergency happens and they may need to take a break from estimating the project. Not everyone's memory is great, and not everyone can pick up their estimate where they left off.

 If I'm currently negotiating the scope of work at the site visit, I want to be sure that the scope of work is set in stone for other contractors that may appear or not. I don't want to be in a situation where my scope of work included X amount of fixture installments and my competitor has a different X amount of fixture installments because they were not in the same site visit. Their conversation could have been different than mine, which could result in a change in cost. It's best to fully understand the scope of work you're trying to get accomplished, even if you have to work it out with one contractor initially, and then send it out to all who are pricing. If there's questions from a contractor that's been answered, it's in your best interest to send that out to the other contractors as well. Do not name the contractor who questioned it, but word it as anonymous as you can. If these questions impact pricing, scheduling, and coordination then all contractors should know it to keep the estimate apples-to-apples.

Hi @tyler 

Lots of great recommendations mentioned above for you. @tanee makes a good point about being qualified for a larger amount based on multifamily. The first time I went for a multifamily, I was excited that I got approved for a Triplex. I was able to prove that the rental income that i was seeking is stable, which represents as another source of income aside from your main job. I recommend to continue to run the numbers of a potential rental property in your specified area, and figuring out any renovation work. Keep a track of your analysis, you may find a property that matches a previous property analysis and can narrow down your decision from that historical data.