All Forum Posts by: Amir B.

@Amir B.

Willing to learn, become more acquainted with numbers, patience, etc. There are a million things, but learning how to trust people can be hard. Especially when you are investing out of state and likely never met your agent, it can be hard. It isn't a bad idea to go to the area you are investing in

Sales and negotiation.

 what service? I buy, sell and keep in Cleveland for about 10 years, 100s and 100s and 100s of transaction, never overpaying So not sure what you are referring to 

If you feel that you are being taken advantage of or overpaying for real estate services, it's important to take action to address the issue. Here are some steps you can take:

1. Communicate your concerns: First, talk to the service provider and express your concerns about the situation. Explain why you feel that you are being taken advantage of or overpaying, and ask for an explanation of the fees or services provided. This can often help to clear up any misunderstandings or miscommunications and lead to a resolution.
2. Review the contract: Review the contract or agreement you have with the service provider to see if there are any provisions that relate to the fees or services provided. Make sure you understand the terms and conditions of the contract, and if there are any clauses that you are unsure about, seek legal advice.
3. Get a second opinion: If you're unsure whether you're being charged a fair price for the services provided, consider seeking a second opinion from another service provider or professional in the real estate industry. This can help you to determine whether you're being overcharged or whether the fees are reasonable.
4. Seek legal advice: If you believe that you have been taken advantage of or overcharged for real estate services, it may be appropriate to seek legal advice. A lawyer can review your contract and advise you on your options for pursuing a resolution.

@Amir B. I am a contractor and use subs all the time. Contracting work is notorious for having quotes all over the place.

I just got two drywall quotes, one for $8500 and one for $22,000. I went with the $22,000 one. The material cost alone for the job was $6,000, and it’s a 3-4 week job. I knew the guy with the higher price was reputable and trusted he would get the job done on time and correctly.

My company is usually on the high side for price. We have top notch insurance, quality tools, and all of our people are on our payroll. We also have software systems that allow for daily work log updates on the jobs and owner portals. We get the job done on time, on budget, and fix any issues. We get under bid all the time and end up getting half the jobs back after they low priced guy didn’t show up, couldn’t do the work, or ended up being a crook.

Just because you got a lower bid does not mean you overpaid. Bid’s are worth the paper they are written on, quality, timely work is worth the price.

Sounds like you got quality, timely, headache free work, you should be happy.

@Amir B. you have some great responses here from contractors. The more you know about construction work, the better you are able to estimate what a job will really cost. And that helps you to make an informed decision and not hire a guy who bids half or double of what it should be, 

If you have never done construction work it's easy to underestimate how much work a job is. You might be sticker shocked by a price, but when you actually see how much it takes to get the job done you start to understand.

The formula is simple: cost of labor + cost of materials + profit. 

This also has to cover the cost of tools, work truck, gas, insurance, taxes, fees, benefits, overhead, office space, the cost of writing "free" estimates, computer, cell phone, bookkeeping and everything else that comes with running a business!

When dealing with real estate services, it's important to be aware of what you're getting into and do your due diligence. It can be difficult to tell whether you're being taken advantage of or overpaying for services, but sometimes there is nothing you can do about it. Other times, if the situation isn't acceptable, it's best to look for someone else who will provide better service at a fairer price. Be sure to research thoroughly before investing in real estate services.

You own a property but don't have team in the market you invest(ed) in. That is where the problem seems to be. Good lesson for future investing, get a team in place that you can rely on. Also, unless GCs are starving for work, you will always pay a last minute premium.

@Amir B.

Depends on specific situation, sometimes nothing you can do and other times will not accept and find someone else