All Forum Posts by: Dell Schlabach

What an incredibely valuable find, biggerpockets. Been exploring endless threads the past few weeks, at every opportunity, gleaning valuable nuggets to improve our business. Sidetrackig into the websites of member whoses sites are chock full of valuable information.

First started dabbling in real estate about 10 years ago, bought a small complex of five commercial buildings in a tourist area, spend a year renovated them and rented them out. Within a few month of completion, lost it all in a fire.

Did did a bunch of fix and flips, land contracts, rehabbed and kept a number of small (4-6plexes) multiunit residential, some single family rentals, couple commercial buildings, things went south in about 07, split with my partner to try and survive, worked day and night for another year to regroup and survive, the final collapse in 08, worst year of my life in every regard.

Borrowed a beatup pickup from a relative (after they repod mine, that was a fun day) and started working for a rehabber for peanuts. Worked a deal after about six month for some profit splits,. 2010 went on my own the rehabber funded my deals, found another contractor/lender to fund some, I did the work he funded the deals 50/50 split.

2011 hired a couple guys to help me, started a crew, did six houses. End of the year started a second crew, 2012 did twelve rehabs plus exteriors of four more by end of the year so the guys have inside work during jan feb (ohio). While I take a much needed vacation in fla.

Sitting on the beach as I write this. What a difference a few years of total unrelenting focus and comittment can bring!

Heading back to ohio middle of next week, we are starting two more crews when I get back.

I have a couple hundred questions to ask here over the next couple weeks as I develop and implement the systems that will allow us to ramp things up a couple notches.

I have learned a few things in this journey, so I plan to give back wherever I can as well, Its great to "meet" all of you.

We buy most of our carpeting at Lowes, houses under 110,000, we buy carpet at about .80sq ft, for homes over 110,000 we buy at about 1.05,-1.15 they keep changing up styles. Typically we will get 5-10% off that price either with 10% coupons, LAR discount or QSP.

Padding, I buy at ProSource .18 sq ft, better quality than Lowes .49 padding. Have some friends who buy padding at Sherwin Williams for about .20 sq ft.

My installer charges, 3.50 a yard, just a little under .40 sq ft. no extra for steps and he provides the seam tape and tack strips, if we need metal I pay extra for that.

1. Construction with my fathers crew in the summers at 14
2. Amish parocial school throught 8th grade
3. Construction until 21. (Injury couldnt walk)
4. Bagged food at brothers natural food store
5. Made a deal to buy the store owner financed while he went to chiropractic college
6. Got my ged, spend a couple semesters at local university business classes
7. Ran expanded natural foods business for 15 years
8. Bought complex of five rundown shops in amish tourist area, renovated and lost in fire a year later.
9. Owned and ran four candle shops four a couple years,
10. Ran couple fudge and coffee shops for a few years
11. Started doing real estate , read dozens of books, and thousands in bootcamps, bought number of small four-six - unit apt buildings renovated and rented, had about 40 units, few small commercial and did a bunch of fix and flip... for five years, crashed and lost it all.
12. Started over, three years ago working for constructin crew for peanuts, today i have two crews, focusing exclusively on fix and flip, fourteen houses last year, avg dom 27.2, starting two more crews in jan when i come back from a much needed two week vacation in naples. Target 2013 = 36 fix and flips