All Forum Posts by: Bonifacio Capuyan

 Hi Christina, thanks for your post. I will send you his name via PM. His wife was my realtor and he was my home inspector and general contractor. Yes, I have come to the realization that my chances of getting the money back are not too good. If he was dishonest in telling me that he would be done every week for months, the chances are he'll be dishonest about getting my money back.

I would love some recommendations on reliable contractors and property managers in Dayton. I am already using Real Property Mangagment to manage some units I already have in the area.

 Thanks Natalie for your reply, I've started reaching out to other contractors to quote me on getting the work completed. I may just have the place cleaned up and sell it as is. I don't want to dig myself into a deeper hole. Sorry this happened to you :-( Looks like I needed a wake up call to get me more serious in managing my business projects. 

I did pay him through a business credit card so I have already initiated a chargeback. If that doesn't fall through I will contact an attorney. 

Hi @Lee Lockhart, I did not have a traditional contract in place, I did have an invoice from the contractor and he emailed me a target date to get his work done. I gave a lot of leeway to this contractor since he did successfully complete a previous rehab for me. (It was a small house 3 bed 1 bath). I do have a lot of emails back and forth from me and the contractor. I do have records of how I paid the contractor. I actually paid him with a business credit card so I contacted my credit card company to issue a chargeback. We'll see how that goes. I do have evidence of the work not being completed based on photos a 3rd party contractor gave me. I admit I was not on top of this project like I should have but I have so many other projects in play I let this one slip off my radar.

Hello Everyone, 

This has been a great resource for me as an amateur real estate investor. I'll jump right into my dilemma. I purchased a fixer upper in Dayton, OH (4bd 2ba) in April of 2017. I chose the same contractor that successfully finished a smaller rehab for me. Long story short he has been promising me for months that it'll be ready next week. I finally got a third party contractor to inspect the property and about 30% of the work has been done.  So in summary within 11 months only 30% of the work has been done. I already informed him to issue me a refund of the money not spent. I have not heard from him since (about 4 days).

What is my course of action? I am in CA and the property is in OH.

Any info would be appreciated.

I'd say use your street sense and trust your instincts. Talk to someone long enough and you'll figure out their intentions

@Hank Keller would you be willing to share the TK company you are working with?

Awesome. Congrats

@Phil Mcnally is on point. Review your rental agreement and follow explicitly what was agreed upon. Its easy to act on emotion but follow through whats allowed to you by law.

@Jessica Zolotorofe @Ryan Canfield Thanks guys unfortunately one agent isn't enough to meet my aggressive investing timelines. Appreciate you taking the time out to respond to my forum post. Much appreciated.

I bought our first rental investment house without letting my wife know. I already knew she would say no. Like she's said no the 28 times I tried to convince her. Didn't matter if I showed her the numbers or not. She likes taking "ZERO" risks. She found out when they mailed the deed to our home address. Needless to say she was MAD. Long story short I spent 27k and get $525 a month which is roughly a 20 to 23% return. When I showed her the checks coming in that anger turned into happiness. I used our IRA money so I justified it to her by saying its our retirement money and we are making a far better return on it.

Do I recommend buying investment properties behind your spouses back? Absolutely not but in this case it was something I did for her own good. Sometimes you gotta take the driver seat. Anyway were doing marriage counseling once a week which costs us $500 a month. ($125 per session) So i guess this investment property was a good deal since its paying for that.

Good Luck!