Joshua Dorkin
Real Estate Investor Partnership Horror Stories
4 December 2013 | 23 replies
You can rewire a whole house down to the main connection faster than that.I can also tell you from my restaurant builds when I owned my pizza place.NEVER leave your check book anywhere on the premises or open the check book when discussing payments or fees for a job.They will look for how much you have (balance) and try to justify that much for a bill to milk you dry.Have a clause where if the work isn't completed up to standard and passes inspection and certification within a certain time frame for each day past the date so much is taken off the job price.This will keep them from being hot on your job and then jumping to a bigger job they land in the middle of yours.Having the inspection requirements and certifications makes sure they can't just slam in a junk job to finish it.I believe having a GC on site is critical to make sure jobs are completed right so you don't lose time tracking them back down to redo something or touch it up.On the partnership thing people even if on the same page starting out change down the line.You might all start out with the same goals but then want to take the business 2 different directions for a growth strategy.So talking upfront helps but will not solve all partnership changes down the line.My experience has been friends and family will burn you more than anything else.When you are business partners everything is based on the performance of the agreement.When you are best friends it's hard to remain objective and not be sympathetic to their problems.This often times puts the business especially at start up at a systemic risk for failure.Having family in management positions in the past really put me in a bad situation (restaurant business) .Had to make tough choices and never will do that again.Family is fine today but learned from that one.
Tess Faczan
Need recommendation for beginner real estate investing books/material
8 February 2011 | 5 replies
Some will warn you that you don't want "analysis paralysis" and you need to "just do it" and "get started"-- and while there's some merit to that, the vast majority of people who have "analysis paralysis" really just have plain old paralysis-- they aren't doing ANYTHING.Through research and analysis, your objective should be to discover opportunities that others aren't necessarily seeing.
Ryan Kurth
Buying a condo with no condo association
11 February 2011 | 3 replies
DC inner city is a pretty unique market, there are interesting set-ups like renting out basements etc. just a thought
Dave Charron
holding a 2nd on my property
11 February 2011 | 0 replies
I own a unique commercial property that has been on the market for a while.
Josh P.
Help! Got a good thing going, and I don't want to mess it up!
12 February 2011 | 6 replies
My situation is unique, both with my lender and in general.
Kevin N.
Inspection report said plumbing system would not hold 40 psi?
13 May 2011 | 15 replies
To test that, you actually have to run water for several minutes down the drains and make sure it doesn't back up, indicating a blockage (tree roots, pipe collapse, foreign objects, bad vent, etc.).
Will Barnard
The Best Retirement Plan
28 July 2016 | 46 replies
The main objective of all of these plans is to get people to start savings.PS: Besides Roth IRA/401k, my most important retirement plan is my RE investments.
Robert Steele
Buyer demanding mediation over seller disclosure
27 October 2011 | 20 replies
You may hav a unique case, your buyer had the opportunity to find the problem too.
Mike Komenda
Advice sought on Cash-out refi
28 March 2011 | 5 replies
Hey all, I just started on the BP forums here and have already learned a wealth of info but as always, every situation is unique, therefore i'm reaching out for advice.My situation is as follows:1.Mortgaging my primary residence (SFH)2.
Allen Gregory
Need Help Talking to Banks
8 July 2011 | 11 replies
(http://www.meetup.com/US-Mortgage-Note-Group/)Just to be completely transparent and not mislead anyone, my primary objective for joining the bigger pockets forum is to find new sources of NPN seconds.