All Forum Posts by: Bill Kramer

Mold doesn't grow overnight. Why was it allowed to grow in the first place? Did they not report it, or did you take forever getting the drywall patched?

Who's fault was it for letting it get bad enough for a gut job? 

Wow...

Bathtubs I am at $1500 minimum just for the surround, 12x24 tiles. Smaller the tiles, or anything resembling a pattern it goes way up. 

I refuse to tile over drywall/plywood. I am taking it back to joists/studs and starting fresh every time. That means plumb and level and square then fiberglass hardie board. Wet environments get red guard. I back butter as well. And anywhere there is a change of plane, caulk no grout to accommodate for expansion. And I also use a tile leveling system to ensure no lippage.

I don't trust self leveling compounds. Eventually they crack, because if you haven't solved why the floor has moved to become unlevel, its gonna continue to get more unlevel. And then your self leveler will fail. 

All those steps cost $$$ but ensure 100% it's gonna last. That's your main price difference right there. Look at the contractors methodology/scope. If they are "slapping tiles" on whatever existing surface you have, be prepared to do it again in the near future.

Use the @name

unfortunately it doesn't work on mobile phones though. @bryan

I am finishing up a remodel that is crazy close to what you are doing. 

Put a mini split in that suite and leave the ceiling vaulted. That's what we did. No need for expensive ductwork, and it's a huge win/win.

Yeah, I was thinking about using a "ghost GC" but knowing my luck I would get caught.

No need for that drama.

I'm just being impatient, I've gotta just let time do its thing. Hell, i'm already thinking of what to do with the flip profits and lining up future deals. I have a bad habit of overthinking things.

I guess my real question is: can I finance the repairs only on a house I have "owner financed"? And would i have to have another contractor do it?

I looked at the homestyle and 203k options, but i believe there is no workaround, and some other company has to do the repairs. How do investors do it all in house? No financing their own crews?

If I put it under owner financing at $40k the carrying costs wouldn't hurt me if I left it alone for a year. 

Hes bluffing, and hoping you will buy his BS. That show his character right there.  

If his guy broke a pipe, he is responsible for the repair. Yes, he can't go past the valve, but the one that he can't go past is out in the yard at the meter. 

Tell him if he doesn't cover it, you will hire an actual plumber to prove it was his fault, and then you will go after his bond. That's what bonds are for. 

He touched it, he owns it. Good or bad.

While I am rebuilding my credit, I came across an off market house from a friend. It's a 4 Br/1 bath 2 story house with a good metal roof. I can make it a 4br/2bath. When I check out comps, they are in the $140k range.

I was debating on trying to put it under a contract sale (owner finance) and at least get the demo rolling while i wait on my credit. 

They want $40k for it, and if I bid out the work it would be in the 50 to 60k range. Of course, as a contractor I can significantly lower that rehab cost.

Should I just wait it out, or get creative and jump on it. I would like to flip it for above market to create some starter cash.

Also, are there loans out there I can hire my company to do the work?

The guy YOU hired. His insurance should cover it, then if he wants to push liability down the food chain that's on him. But its his job, and he owns it.