All Forum Posts by: Luis Melendez

thanks for the response David but even the unreliable contractors go there all the time. @travis looks like I struck a nerve by asking for a simple referral. I hope you realize my statement about unreliable contractors wasn't directed to you nor was it directed to every contractor as a whole. My last experience with contractors that do awesome work wasn't good.the guy who did my basement took 2 months longer to finish a job he said would be done in a month. Matter of fact the basement is still not completed. Good thing I didn't give him the full amount. But I agreed on his first quote. No hassle. I found out he was doing others jobs on days he was suppose to be doing mine. Another contractor He gave me a quote, we agreed on the price and we started the job. The problem was it took him  3 month longer than he quoted and it wasn't because materials took long to come in or bad weather. I would show up on the job site and he wouldn't be there for hours and there was always an excuse. It even got to the point where his partner on the project would threaten him to leave and call me to find someone else. It was very frustrating trying to stay on top of him. Sometimes he would tell me he would be there in an hour and wouldn't show up at all. The job finally got done but it wasn't the best experience. I'm willing to pay for quality but I also need reliability. i think a lot of contractors try to take on multiple projects at the same time and that's where they run into trouble. So once again anyone have a referral for a RELIABLE contractor.

welcome Anthony. i currently am looking for buy and hold investments preferably multi family properties. i would love to work with you on  future projects

Hello Fellow BP members im looking for some quality contractors that work in connecticut, preferably hartford county (new britain, newington, plainville , southington, berlin, farmington, avon, bloomfield, meriden, west hartford, east hartford, manchester, glastonbury bristol, middltown,. I need reliable guys that i can count on to get the job done in a timely fashion with reasonable rates. If any rehabbers or fellow investors have any they would reccommend can you please refer me to them. Im looking to close on a property within a month so i need a contractor that i can depend on. My last guy did a great job but man was it tough to get him to finish the job!!!

great advice thanks Wayne

thanks for the info @brianburke I read your articles and listen to your podcasts and getting some advice from a successful investor as yourself means alot. One small question they ask if I want to use my title company or their title company. If I use theirs I won't incur the title search costs. Do you use your own title company/attorney or do you use theirs.

hello fellow bp members. i recently won a bid on a property on homesearch.com which is an online auction site banks typically use to sell off there properties. The reserve wasnt met but i got an email that the bank accpeted my offer!!! sweet!! but ive never dealt with this site or any online auction site for that matter. has anyone dealt with this online auction site and how was the process for you? any tips to help make the process smoother would be much appreciated. Thanks in advance

the only way to get it done would be opm as Michael mentioned or seller financing favorable terms for you. It's harder to achieve but it can be done. For a investment property it's 25% down. You can  try to structure using collateral on your other properties but that might be harder to get. Your best bet in my opinion would be try to get sellers to finance to you and put as little as they would accept.

great job Rick. Numbers sound solid. I know new Britain well what street is it on?

look into allure flooring. It's inexpensive, easy to install (even if you wAnted to do it yourself), durable and it's flexible. I've personally never used it but my mentor swears by it and I will give it a try for my next investment

Hey Daniel thanks for the feedback. So when I closed my mortgage and closing cost total was $109k.  so i refinanced for 144500.. So my check was the difference. Out of pocket before refinance I out in about  $25k of my own money. That was initial purchase down payment plus holding costs and repairs so at end of day I got my $25k back plus an extra $10k from the refi.