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All Forum Posts by: John Ellis

John Ellis has started 15 posts and replied 110 times.

Post: Contractor Questions?

John EllisPosted
  • Flipper/Rehabber
  • Mentor, OH
  • Posts 121
  • Votes 50
Originally posted by Charles Perkins:
I've run across a worksheet like this sometime in the past. Good friend of mine was required to put in a 300 amp service when remodeling his home. His home wasn't particularly large but he had a hot tub, air conditioning and a fair sized shop.

Hot tubs, pools, and such are a big energy load. It is a rather simple calc once you get the hang of it plus it is out of the code book and I am sure there is a calc sheet out there.

Post: Advice, Luck, and Money

John EllisPosted
  • Flipper/Rehabber
  • Mentor, OH
  • Posts 121
  • Votes 50
Originally posted by Charles Perkins:
You might also think about partnering with other investors.

I agree that is why I joined this site to hopefully learn and gather ideas on to what other investors are looking for and how I can help them and they in turn can help me.

Post: Contractor Questions?

John EllisPosted
  • Flipper/Rehabber
  • Mentor, OH
  • Posts 121
  • Votes 50
Originally posted by Charles Perkins:
John appreciate the post.

Do you have any guidelines you might suggest when sizing an electric panel? These days it is seems quite common to find a 200 amp service in new homes. A lot of older homes have 100 amps services which sometimes is a problem.

On occasion I run into a home with a 300 amp service.

Here is a quick calculation you can use. In Ohio we run into a lot of 60 amp homes. I have never worked with 300amp I have only worked with 100, 125, 150 or 200 for residential and then 400 amp and up in sm biz. Here is a quick version that errors on the side of a cauction.

Sq ft X 3 volts= Volt Amps

you will then add any of the following

1500 per small counter appliance outlet
1500 for laudry
750 for Dishwasher
12000 for Range
5000 for Dryer
1500 for Microwave
1500 for forced air

Sub Total

AC is whatever it reads @ 100%

1st 10000 @ 100% next @ 40% + AC if you have it

Total Volt Amp/240= Required Service

Here is an example

For a 2000sqft home with a mix of gas/electric appliances

2000x3 volt = 6000 volt amp
+ 3000 (2 counter Out) + 1500 (Laundry) + 750 (dishwasher) + 1500 (microwave) + 1500 (microwave)= 8250 Volts

8250 + 6000= 14250 First 10000 @ 100% next @ 40% = 1700 add them together 14250 + 10000+ 1700 = 25950 Volts

25950/240= 108.125 so a 100 amp service would be too small you could put a 125/150 amp service in in case you add appliances or the such

If this is too confusing usally you can say if it is 1500 and under with a mix of gas/electric then 100 amp is fine anything over you should do the calculations because the difference between 100-200 amp panels and service is about 2 times the cost in materials.

hope this helps and isnt to long

Post: Winterization issues with my first HUD

John EllisPosted
  • Flipper/Rehabber
  • Mentor, OH
  • Posts 121
  • Votes 50
Originally posted by DAVID GAGE:
Well we closed on our 4th foreclosure this week. This one being our first HUD. The others have all gone off without a hitch. We had our HVAC guy come out to fire up the heat and got some very bad news. The house has baseboard steam heat well there was several lines burst which is not a big deal but time consuming, then the pump was cracked. still just a bump in the road. Then we find out the boiler itself had burst. We also found the water meter to have burst. Another issue I have is I was charged $140 for a locksmith fee at closing to have the locks changed. I get there and only one key and it only works on one door. So now I'm getting Pissed and starting to wonder if these contractors really give a crap. The house has stickers and signatures everywhere from the inspectors and the contractor that winterized the house even left his business card on the counter............My question is would I have any recourse and whats the probability that I would ever see any restitution?.........boilers 20 yrs old so I don't feel so bad....just can't tolerate half a$$ work.

Unless the property was properally winterized and baseboard heating (boiler) requires knowledge beyond an internet search probably the contractor is at fault. In addition the contractor is paid a flat fee to prerform most of those duties including re key so that is the reason you only get one key and it controls all doors because it is cheaper. It is more the fault of the management company paying the contractor then the contractor they are just following orders. You might have a case against the management company if you can prove the contractor was not knowlegable on the boiler issue.

Post: Contractor Questions?

John EllisPosted
  • Flipper/Rehabber
  • Mentor, OH
  • Posts 121
  • Votes 50

Since I have recieved some great advice on the bp already I thought I would try to help others in some small way. I noticed a large number of questions about contractors, construction, and pricing.

Being a contractor I am willing to help answer as many questions I can. I hold an Electrical License and I am a registered General Contractor. I am located in Ohio and if you have a question about a DIY, the best place to get materials, general ideas about project budgets I am here to help. :D

Post: college basketball- MARCH MADNESS

John EllisPosted
  • Flipper/Rehabber
  • Mentor, OH
  • Posts 121
  • Votes 50
Originally posted by Rich Weese:
What a fun time of year! Especially when you're a BYU fan like me. # 1 scorer in div 1. Arguably a # 1 seed. Currently # 3-5 in Polls and #1 in total RPI later today!!! This for a team that has won ONE game previously in Madness.
Bring it on about " they haven't played anyone". That isn't how RPI works. More wins on road than any other team, more wins against top 10, 25, 50 and 100. (kinda guessing on this last one). If # 1 seed in west, games will be in Denver first round and Anaheim in second- like HOME games for BYU. Great fun. Get ready to be JIMMERED . Your choice? Rich

Really Think BYU would have made some noise but without that big body down low kicking it out and running the floor BYU will sadly lose in the second round. Hopefully the Karma of the team can change that.

Post: Advice, Luck, and Money

John EllisPosted
  • Flipper/Rehabber
  • Mentor, OH
  • Posts 121
  • Votes 50

So I posted a couple times on this site in the last week and have been pleasently suprised on how awesome it is. So I thought I would continue to ask more questions haha

Here is my current situation and hopefully someone can offer some advice thank you for your time.

I have bad credit because of students loans and owning two homes.(overextended) I am teacher and I own and operate a construction company. I started the company when I was in college and it has kept going but never growing. I have wanted to expand into Real Estate for ever and have the ability to rehab but can not do it because of my credit.

How can I accomplish my goal?
I have little money to invest (around 1000)

What I do have is a passion for real estate, a hard work ethic, passion for learning and an ability to fix and construct anything. I have the experience to rehab home as both of the homes were complete rehabs.

I just want a chance.Where do I start I am tired of posting on meaningless sights with my business plan on networks that charge high fees just to respond to people.

How did you get your start? Because of my little money and bad credit (sounds appealing huh) I understand the prospects are not good but I refuse to stop. Please help any and all suggestions would be helpful

My goal is to create a One Stop Property Shop where I can buy, sell, rent,and manage properties.

Sorry for the length, Have a great day!

Originally posted by Eric Gonzales:
Hi John,

I have a property that I purchased in NE Ohio and I was able to use Peer to Peer (P2P) lending. The only problem is that they will lend you a maximum of 25k at 6 months at a time (of course you will have to make payments on time during that period). After 6 months you can re-apply for a new loan if less than 25k.

The really good thing is that you avoid banks and it does not go on your credit as an inquiry. Try searching for Prosper or Lending Club.

Thanks Eric

I will search them now I never thought of that idea I have been trying to think of unconventional ways. I will update you thanks again.

Post: Newbie Investor in Ohio looking for Advice

John EllisPosted
  • Flipper/Rehabber
  • Mentor, OH
  • Posts 121
  • Votes 50

I am new to investing however I do have a passion and skills in real estate. I have bought and manage three homes but I am trying to get into the market bigger and need help in these areas:

Capital (funding)
Marketing Ideas
What is a good deal?

Any help or advice would help Thank you

Originally posted by John Buehrer:
I've been buying in the rust belt (NE Ohio) market the past four years. Won't go to Cleveland though... taxes are way to high. A county auditor being thrown in jail as a result... that and mismanagement of funds.

Honestly, I can't believe the number of great deals that are out here. William Ware's example is very common nowadays. The problem is finding the funds to carry a note for 1 to 2 year payback. As previously mentioned most banks don't loan at such a small amount and Hard Money only loans for 6 months.

I am new to the site but I too live in the rust belt and own and rent three homes. The problem I now have is that I can not get enough capital to continue to buy, rehab, and hold these properties. The surronding areas of Cleveland are really great places to live and you can find incredible deals. Most of the deals require some renovation however the homes are good bones and in good neighborhoods and rent quickly.

I do have a question John and the others what is the best way to get capital (because banks will not loan) I have been trying for the past six months can anyone point me in the right direction this is the first site that I came across where people know the real estate venture.