All Forum Posts by: Aaron Maggard

I wouldn't. That's speculation. Get creative and fing cashflow.

This is the jazz! Gotta know your capabilities and gotta do the math on the worst case. We enjoy the challenge.

Some time back on the pd there was a discussion on owner finance and options on this as an investor looking to sell. Anyone remember the episode?

If he has been working for you then we can assume you have established a pay rate.($x.xx per. hr.) Why would this change? Do not pay by the foot for a beginner. Don't. It could cause him to rush to make his necessary $. Just pay as normal and evaluate. If it's not working then changing installers isn't messy. You just stop the clock on that scope of work. You may pay "too much" the first job or two but you also may develop a valuable skill for him AND you going forward. BTW If he does great then reward him. Invest in your people. 

You may need an electrical contractor who has a 9-5 and is allowed to moonlight from their pickup truck. He/She will have less overhead. If you own the property you can often pull permits and you don't need to worry so much about license as many employees don't hold a state level license themselves but actually have the field experience. As a GC myself I have had inspection departments tell me they don't even check the validity of a license because the trust their inspectors. In other words a license doesn't prove a contractors quality & character. Get a permit and let them confirm the safety. Nothing wrong with large companies and they have their place in the construction world but you don't always need a guy with a brick office and a full time receptionist.  

For sure! There is no reason you as a real estate pro should not be investing. Just follow your state's disclosure laws. I'd personally get another team member to list it and run the whole thing. Don't even consider selling it "off market". Believe in your trade and show it.  

Thanks, For clarity I do actually know how to walk the property as I am a contractor and have owned and operated for over 30 years. I was using it for a comparison to see what other BP folks were comparing to. (obviously not this) When I got into it I simply couldn't believe that the numbers could be that far off and thought possibly i was using it incorrectly. Th others such as rent can be customized with % and be highly accurate. I guess I was expecting something like Xactimate. If this is what investors are using its no wonder they have bad experiences with contractors!    

I'm trying to use the rehab estimating tool for the first time. It makes no sense to me. I'm getting negative numbers for builders labor and some numbers wouldn't purchase the item. Is there a video? I'm feeling stupid. I'm NOT new to this. I've been a builder for 3 decades. BP / Kukun has me stumped.  

What can anyone tell me about owning, managing, purchasing a store n lock?