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All Forum Posts by: Tom Kaser

Tom Kaser has started 6 posts and replied 36 times.

Being facetious yes. I’m guessing they won’t eliminate the 1031 but proceed with caution.  Not trying to get political here, but keep in mind both parties in Congress probably own investment real estate. So they would not want to hurt themselves. 

I feel bad for my tenant of four years, they take care of the place and pay rent pretty timely.  His truck got broken into recently and $2,000 of his tools were stolen.   Insurance covers the truck but not the tools. He does have a garage to park in, but his truck is too big.  

I try to support my tenants all I can and I have shown this one some empathy.  He filed a police report right away.  Any ideas of how I can help my tenant?  This is a steady C neighborhood, but can happen in just about any neighborhood. 

Thanks for any practical input. 

Any

Post: Dealing With Greedy Concrete Contractor

Tom KaserPosted
  • Investor
  • Denver, CO
  • Posts 37
  • Votes 23

Yeah he did come down $500. I paid him, since I did agree to that.  He does good work too. 

Post: Greedy Concrete/Mason Contractor

Tom KaserPosted
  • Investor
  • Denver, CO
  • Posts 37
  • Votes 23

Well, long story short, I met up with him today to work things out. My GC helped with a call into him too, since they do biz together. Concrete man came down to 7500. I paid him. 
Got other bids to pour the driveway β€” 5k to 7k.  Concrete man agreed to 4500 so I went with that.  So we shook hands and went on with our day. 
We all live and learn. Thanks all. 

Post: Greedy Concrete/Mason Contractor

Tom KaserPosted
  • Investor
  • Denver, CO
  • Posts 37
  • Votes 23

Good points.  I’m eating humble pie this weekend. 

Post: Dealing With Greedy Concrete Contractor

Tom KaserPosted
  • Investor
  • Denver, CO
  • Posts 37
  • Votes 23

Seeking input for a frustrating situation with a greedy, and what seems to be, an unethical concrete/brick mason contractor. I'm rehabbing a brick ranch home in North Denver area. At first, it appeared it needed extensive cracked brick repair, due to settling of this 65 year old house. Cracks on all sides of the house. He had me believe it would take days to repair and quoted me $8,000. Yikes. I've never done brick repair.

Well, it took three of his guys one full day to do the work. They only used half the bricks. Total cost for labor and materials is probably $3500 at most. I've asked him if he would consider lowering what he is charging me. He won't. I've already agreed to it of course, by email. And I am partly at fault here because I did not get other bids, as I've used this contractor before and he does good work. I work a demanding full time job too, so it's hard to do all the necessary things on a project, from start to finish.

I am so mad at his greed and how he was misleading. I'M MAD AT MYSELF for not doing enough due diligence; I know this my fault.  Also, he had an arrogant "my way or the highway" attitude, would not empathize. Told me he had many more jobs to do, which he does and how he "squeezed me in" to get the job done. The worst part of the house is now fixed and they did a good job. We are just finishing up the inside for new paint and flooring.

Last night the had the audacity to email me the invoice -- not even a formal invoice, just an email listing what was done and the $8000 charge that is due. And he asks me "when can I stop by the house tomorrow to pick up a check?" Aargh!!! He also quoted me $4500 to pour concrete for a new drive way. I told him to disregard that and if he gouges me for $8,000 that I would NEVER use him again. He made a sale and a profit here, but he lost a long term customer.

Any other input you have on how you could negotiate with him? If I don't pay all of it, he could slap a lean and then I can't refinance to a conventional. So frustrating. Help!

Post: Greedy Concrete/Mason Contractor

Tom KaserPosted
  • Investor
  • Denver, CO
  • Posts 37
  • Votes 23

Good point.  Still wiping the egg of my face...... and I'll be eating humble pie all weekend.  

Post: Greedy Concrete/Mason Contractor

Tom KaserPosted
  • Investor
  • Denver, CO
  • Posts 37
  • Votes 23

Seeking input for a frustrating situation with a greedy, and what seems to be, an unethical concrete/brick mason contractor. I'm rehabbing a brick ranch home in North Denver area.  At first, it appeared it needed extensive cracked brick repair, due to settling of this 65 year old house.  Cracks on all sides of the house.  He had me believe it would take days to repair and quoted me $8,000. Yikes.  I've never done brick repair. 

Well, it took three of his guys one full day to do the work.   They only used half the bricks. Total cost for labor and materials is probably $3500 at most.   I've asked him if he would consider lowering what he is charging me.  He won't.  I've already agreed to it of course, by email.  And I am partly at fault here because I did not get other bids, as  I've used this contractor before and he does good work.  I work a demanding full time job too, so it's hard to do all the necessary things on a project, from start to finish.

I am so mad at his greed and how he was misleading. I'm mad at myself for not doing enough due diligence.  Sound familiar?  Also, he had an arrogant "my way or the highway" attitude, would not empathize.  Told me he had many more jobs to do, which he does and how he "squeezed me in" to get the job done.  The worst part of the house is now fixed and they did a good job.  We are just finishing up the inside for new paint and flooring.  

Last night the had the audacity to email me the invoice -- not even a formal invoice, just an email listing what was done and the $8000 charge that is due.  And he asks me "when can I stop by the house tomorrow to pick up a check?"   Aargh!!! He also quoted me $4500 to pour concrete for a new drive way.  I told him to disregard that and if he gouges me for $8,000 that I would NEVER use him again.  He made a sale and a profit here, but he lost a long term customer.

Any other input you have on how you could negotiate with him?  If I don't pay all of it, he could slap a lean and then I can't refinance to a conventional.   So frustrating.  Help!
  

Post: Dug Myself Into a Hole

Tom KaserPosted
  • Investor
  • Denver, CO
  • Posts 37
  • Votes 23

@Bill Brandt

Yes Bill, thanks for pointing this out. The PITI mortgage payment seems way high. Look into refinancing.

Post: Bad timing for me to start REI

Tom KaserPosted
  • Investor
  • Denver, CO
  • Posts 37
  • Votes 23

@Wilfred Mkilindi

Exactly! 😎πŸ”₯πŸ‘ŠπŸ½