Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Cole Walker

Cole Walker has started 5 posts and replied 106 times.

Post: Contractor payment, materials & labor questions

Cole WalkerPosted
  • Flipper
  • Seattle, WA
  • Posts 110
  • Votes 36

Also make sure you are both on the same page about payments. Write out when the payments will be made, then contractor and owner read and sign it.

Post: Contractor payment, materials & labor questions

Cole WalkerPosted
  • Flipper
  • Seattle, WA
  • Posts 110
  • Votes 36

@Vonetta Booker I work from a mutually understood scope. Then I develop my material list from that.

If you could find a contractor through word of mouth, that would probably be best. Referrals (2-3 at least.... and actually contact them and ask them how smooth the project went, any change orders?, was everything easy to understand while working with the contractor, etc). After doing all that see what the contractor will accept as a down payment. Maybe they will accept a tiny percent of the job until they get started, then you can make progress payments as milestone are completed. Once the framing is done, then once the plumbing, electrical, and insulation is in, then after the rock and paint are done.... its a lot of steps but it should keep small chunks of money going out instead of a large percentage upfront. That should keep the contractor happy as well. Always hold some form of final payment until the work is 100% done and you are happy with the work.

Post: Prices - Menards vs Lowes vs Home Depot

Cole WalkerPosted
  • Flipper
  • Seattle, WA
  • Posts 110
  • Votes 36

No Lowes..... ever.

Post: purchasing a home with a unfinished shop (possible rental)

Cole WalkerPosted
  • Flipper
  • Seattle, WA
  • Posts 110
  • Votes 36

Get another couple estimates for the work you described. If the area is going to be used for what it was permitted for, there shouldn't be issues. Just make sure they city will reopen that permit without having you bring a lot of items up to code (I don't know how long the permit has been expired).

Post: "AS IS" properties Can you get a contractor to do estimates on repairs?

Cole WalkerPosted
  • Flipper
  • Seattle, WA
  • Posts 110
  • Votes 36

BAHAHAHA

Post: Will the Real Estate Market Collapse in 2015?

Cole WalkerPosted
  • Flipper
  • Seattle, WA
  • Posts 110
  • Votes 36

Talk is cheap..... round here it seems to cost .02 :)

It feels like we are in a bubble.... but as someone else mentioned, there are a few pieces missing.... I think those pieces are gonna fall into place in 2015.

So a "pop"?.... I vote 2016.

Post: Contractor payment, materials & labor questions

Cole WalkerPosted
  • Flipper
  • Seattle, WA
  • Posts 110
  • Votes 36

When a customer asks me if they can provide the materials, I don't have a problem with it. It does make the job run quite different though. For example the last job I did the owner provided the vanity and faucet for the bathroom. They didn't get the right size faucet for the vanity they chose though. That was a bit of a hold up because they needed to decide on a different style. They also had to be the ones to run to the store, buy the new faucet, and return the old one. Thats all fine by me but IMHO its time wasted.

I do accept credit cards. I charge an extra 2.75% when I take them though. Thats what it costs me ( I use Square). Some customers are happy to get their miles and pay the extra percentage.

Post: "AS IS" properties Can you get a contractor to do estimates on repairs?

Cole WalkerPosted
  • Flipper
  • Seattle, WA
  • Posts 110
  • Votes 36

I agree with @Bill Wallace  make sure you get permission for you or your contractor to enter. Just because there may already be squatters in the house doesn't mean its open to everyone. "As Is" usually means the owner isn't willing to fix anything that you find during your due diligence. Thats not the end of the world though.

Post: Foundation issues

Cole WalkerPosted
  • Flipper
  • Seattle, WA
  • Posts 110
  • Votes 36

If it was just a house that has settled 3" I would view it as less of a problem than having lentils cracked and cracks showing through fresh paint. When cracks are showing through fresh paint that would tell me its moving quite a bit fast and recently.

As far as the structural engineer coming out to say blah blah, I would get a second opinion if you are that interested in the property.

Is there any sign of water around the property? I have seen a few houses that were older and the cracks got significantly worse due to the water main coming into the property developing a crack/leak.

By the way- we have a company around here called "Slab Jack". They specialize in hydraulic concrete pumping specifically to level house foundations, side walks, slabs, etc.

Keep us posted!

@Account Closed As far as I know (everyone check before they do so) the marijuana area is something you can discriminate. For example you can say no dogs, no cats, no smoking, etc. So if you would like to avoid having a tenant growing/ using on your property you just need to include that in your contact.