All Forum Posts by: Dutch Langley

We are rehabbing a 1901 flip house in a historic district.  All bedrooms sagging floors...we removed all the subfloor and replaced all the joists....and a few piers..floors will now be even and the new flooring will now look amazing.  That part is not really that big of a deal...however, the water issue can be a bigger deal.  Get a drainage/waterproofing company out there first to evaluate.

@Cassandra Sifford  I love all the archived webinars.  

@Brett Kash  I use Builder Trend software.  All subs/vendors we use are on there.  I issue PO that they have to approve that details the scope.  Payments issued through it as well with lien waivers.  Software has full project management capabilities -- I do the scheduling for each project on it, daily logs are included, estimates, budget reports, all photos/videos.  It takes time to learn, but when running multiple projects it is great.  subs have access to their schedule/PO/pics, etc.  Runs off an app.

@La'Crystal Hicks  Boy, I wouldn't do this.  If you had the 25K in a savings I wouldn't do it.  I don't know what your goals are (flips, buy and holds, etc.) but that money would be better served as a down payment and for holding costs.  There are so many free resources...here on this forum and local real estate investing groups.  They are invaluable.  We were completely new to the real estate investing world and after taking time to educate ourselves, go to meetings, set up one-on-ones with fellow investors, realtors, private and hard money lenders we were able to start picking up properties.  I would hate for you to start out in debt like that.

@Victor Lau  Market changes happen.  It can benefit us either way.  For us, being smart on how we buy and looking at ARVs of around 400k or less so we won't be on the market too long. (for flips) If a recession happens, perhaps we will be able to pick up some properties cheaper and then perhaps labor will be a bit cheaper.  Then maybe we do some buy and holds.  Not real concerned.  Keep enough cash to protect yourself.

(enjoying the show with a vodka and some popcorn)

@Ernest Lopez  depends on zoning as well.  Fellow investor here bought a house that had a fire.  Too costly to try to save existing structure.  Plan is to demo down to the foundation...zoning will allow them to build onto the existing foundation (and beyond), but as long as the foundation is kept it is a renovation job versus a complete new build.

@Branden Pfaff  yes it is.

@Branden Pfaff  Patios are great!  Most people like an area to entertain outside or just for themselves.  A concrete patio is pretty cheap and hard to damage or be taken away.

@Kara Beckmann  Congratulations!  I admire that you took the initiative to be hands on and so dedicated to the whole process.  As a woman, I have surprised many subs by showing up with a tool belt.  I do much less of it now, but its nice that they can't get one over on me thinking I don't know what they are supposed to be doing!