All Forum Posts by: Zechariah Evans

I'm a GC Here in Wisconsin and I've recently ran into the same situation on one of our own projects. My first question is do you have any sort of gap insurance if so you want to file a claim with your insurance explain the situation to your agent and they will basically go after the other party for you this is the best option for a timely resulation at least as far as your renovation project goes.

Our predicament differed we built a deck and we hired out the drilling of the holes he hit a power line and refused to call his insurance se we called ours we explained the situation our insurance paid everything fairly quickly. They sued the sub for losses and their expense of being involved,and I never paid a deductible

Hope this helps

Zech

Jerry,

Welcome, in not in the twin cities but only about 5 hours away in the greater Milwaukee area.

Welcome guys

More power to you, good luck

Welcome and congrats

Clay, I know a lot of owners don't like this but if I find myself in a situation like yours, I meet the tenant's before considering purchase, caveat being value of property. During meeting in casual conversation if you like tenant, ask a few questions like: How do you like it. Do you plan on living here longer than lease. If not what can I do to keep you. Just general questions like that will better help you understand what situation your tenant is in. To get back to my earlier point, I met with current tenant asked a few general conversation question and discovered the person living there had signed a lease from a different state and was not familiar with the neighborhood she was moving into. To make a long story short, by doing the due diligence I found out that even though for the next 7 months I would have made roughly 70% ROI on initial investment. The property was in a very undesirable area and finding another quality tenant to rent the property would be tough so passed. Hope this helps Zech

Welcome from Wisconsin

Wisconsin?

Welcome

Welcome from Wisconsin the wolverines had a great game against the Irish