All Forum Posts by: Bryan Devitt

 He probably found a cookie cutter contract because it looked legit, so he used it. Which is great for the OP because if it is clearly spelled out and not followed by the GC, the OP doesn't have to pay for any change orders or price increases. The problem is getting the money back from the thief. They'll be in a long line to collect and I am sure no one will get a dime in the end 

For $3800 I thought they were replacing all deck boards and rails? If they're just replacing some, it is very over priced. Lumber has gone up 2x - 3x in the last 9 months, but that is still insane

A deck is good and adds value but there are limits to everything. If the framing is still good then spend the $3800. Otherwise it will cost you $1k-1500 to take it down, haul it out and clean the area. If the framing is bad then rip it out and put down some patio blocks to cover the dirt 

If the contract states there is a change order process and it is not followed, you can not be billed for it in most places. Even if the work was done, the contractor has to eat it. If you paid him already he must refund the money if you tell them exactly what you told us. Good luck with this, but it will take a while to sort through. I wouldn't meet with the contractor again without a lawyer present. Also for the parts the inspector wants to see, they're essentially taking apart a good chunk of the work, esp the shower. If they have to pull the pan there is a good chance the entire thing will no longer be waterproof and will have to be redone again. Maybe his old insurance can still be gone after for the work that was completed prior to the expiration of his policy? 

There is no minimum really, it is all in what you are comfortable with. In most places there are too many people who think that you will make money flipping no matter what, so they're buying for way too much and a lot are not even running numbers before they buy. They're purchasing and then doing the budget after. This has worked for some because of the crazy market but at some point that stops. So think about what worst case scenario is and then what the average is. Is the average worth risking worst case? This is eerily similar to 07/08 when I saw people who thought they were gods making money hand over fist. They bought new cars, new trucks, all sorts of tools and equipment, hired people, etc and when the music stopped playing, they had a giant monthly nut and were sitting on a handful of houses at various stages. Some refused to break even or lose money because they had no clue what that was like and winners never give up and take a loss. Two in particular that made a LOT of money in the last two years kept dropping the prices on their two houses but always to what they deemed market rate was. After a year they sold the houses and lost $700k between the two of them, all because they wouldn't break even and wanted $200k in profit when they listed them because that is what they were used to making. This is the long way of saying, there are times when you're better off making no money than losing money. Knowing the difference can make you lose out on a couple hundred thousand dollars but it will also keep you from losing $700k. Do your research, know your numbers and don't settle because of FOMO. There is a solid chance whoever bought the house at the really high price probably lost money and is on here or a local Facebook realty page asking why it isn't selling and what they can do because they're already breaking even and can't afford to lose money (I am seeing these more and more often now) 

I would send any notice to the co-signer that you send to the occupant. They shouldn't be surprised to find out that they're being taken to court when the occupant is being evicted. The added bonus will be that hopefully the occupant will be embarrassed that someone else will find out that they're behind

When you advertised the house did you say "maximum 2 adults and 2 kids"? 

They want to take on the hell that can be taking in foster kids and you're asking if you can squeeze more money out of them? They have a 3 year lease, they're great tenants and apparently they're saints and you're looking for a way to gouge them? What lady the kids pop out of doesn't matter, you rented a house for $XXXX, be happy they're paying rent and are good tenants 

If this is just a basic metal column buried in concrete and being replaced by the same, it is generally a 2 day job. To be safe plan on $200 in materials and 16hrs of normal licensed labor (don't let a handyman hack it out and replace it, it goes bad more often than it goes good and that $200 savings will cost thousands later) 

If you're in a bad part of Springfield, it won't get better any time soon and the property will lose value quickly when there is any kind of an economic downturn. I would sell that place with a quickness, find a 2 - 4 family in a better part of Springfield or somewhere else, live in it for the year and then buy another single family where you want to raise your family.