All Forum Posts by: Bob McIntosh

I nearly got sucked into this but when i started digging in and asking some detailed and hard questions the responses got more and more elusive. It was at this point that I did some research and found a large number of people that were unhappy with any of his boot camps, programs, and his entire marketing scheme. Thankfully I found bigger pockets shortly after and have learned more from here then from any other single source. Needless to say I am happy I didn't spend the $10,000 (which by the way this price was not negotiable and was a stellar deal and wouldn't last forever....tip 1 of a rip off).

*Edit.... P.S. I have filed complaints with the FCC 6 times about Rober Allen and his company for continuing to call me about seminars and other crap despite the fact that I have my number registered with the do not call list and have asked them 6 times to remove me from the list and never call me again.

I had this priced out for a rental unit I own in Western NY and it came to between $2000-$5000 for a brand new HVAC with everything (that was the range from a few different HVAC folks). Now this is a 1200sq ft unit but its only about 14 years old so I would anticipate a bit more than that most likely.

failblog.org - good for a laugh each morning :)
facebook.com - it's an addiction

Can those of you who have made the jump to full time investing tell us how long it was from when you first started until you were able to make the jump?

haha it is, and i have heard many other posts about it :-P

I have been meaning to change it to something else since that project got put on hold and wont be done now for quite some time.... just haven't spent the time to.

Diane... to your comment (the second one that is :-P) If i put up drywall is it better rip everything else out or just go right over the old stuff? Not sure... I have heard some people say that its better to just go over it so you don't have to worry about whats under it, and others that say you need to worry about whats under it so its better to rip it.... not sure....

This will be sold, I would say this is in a medium-low class area. Goals are to maximize profit but without turning over a crappy place.... I don't know how its going to look... will painted paneling detract buyers?

So I made an offer on a property yesterday that has wood paneling EVERYWHERE.

I have heard a number of ideas on what to do about this and would like your opinion.

In order from cheapest to most expensive:
1. Just paint over it as is (its in decent condition and is solid enough)
2. Spackle over the "grooves" then paint over it
3. Throw up some dry wall right over the paneling
4. Rip out the paneling and put up dry wall.

Give me some pros and cons to each of these, or if there is something else i missed?

Thanks!

Thanks for the reply Justin. What are you basing your offers upon? I am very hesitant to just put an offer in since I have no idea what it will take to fix the place up and the last thing I want is a property that I paid to much for and wont be able to profit from.

Ok... so I just found out today for the 2nd time in a row that the property I was hoping to put an offer on is now under contract...

I am running into the follow situations and would like some advice... 95% properties I look at are bank owned, and specficially state that any offers submitted must be with "No Contingencies". So I can't put in an offer contingent upon the inspection of a contractor to get a better estimate of how much money it will take to fix up the place. I am hesitant to just put in an offer because this is my first time and while I think I am estimating close to the cost of repairs I am 100% certain that I am not exact.

I have a contractor that I schedule a time to meet at the property and walk through it but both times they are put under contract before I do that. Is there something I can do about this? Should I bring a contractor with me when I view properties? I feel like that would be a waste of his time if I don't end up liking any of them...

Any other thoughts are suggestions on what I can do about this situation?

Thanks!

How important is it to be there a "couple of times a day" vs. say once a day or every other day? I understand the importance of making sure that they are doing work when you are not there but I also think you are going to be able to tell if they are not really working based on the timeline you have setup (which is number 3 on your list). I am working on purchasing my first rehab but I still also have a full time job which would restrict me from be able to stop by a couple of times a day... just curious

Thanks!
-Bob