All Forum Posts by: Account Closed

Biko,

Making sure you stay on top of the Newark market and which specific areas are hot; also, knowing how to evaluate properties is a good place to start.

Welcome to BP.

I want all you guys opinion. Are you going after more flips abundant short term cash or a steady passive income?

What are your 2015 goals?

Love gaining knowledge from you all.

@Tony Jordan 

Welcome. I am an investor in the Metro Atlanta area.

I know this city very well, let me know if I can do anything to assist.

I have a couple rentals and have done flips but getting more interested in small MFH's and notes in the near future.

@Brandon Sturgill 

I have SFH properties in central Ohio. What's your criteria?

Ardie

[email protected]

678-361-6717

@Kris Haskins 

I did seller financing. He did 30% down payment than made 2 other payments. Stole people identities and transferred money into my account from account set in his "fake" name until full transfer of title.

@Kris Haskins Sorry that sucks.

YOUR GUYS WANT A STORY....

A guy bought my property with fake funds. created a fake POF and stole someone else's identity to make initial payments.

He ended up going to fail for 10 years 

Property was in FL, 3 years ago

crazy scams do happen

Thank you all for your comments and suggestions

Finding contractors I was not too much worried about but their work and compliance was more of the concern.

@Eric Danielson I like that idea of looking on big work sites because usually they know the rules and have access to different type of tradesman. Only thin is I don't have time to work on my own projects :(

@Greg Palmer Thanks, that helps to find contractors for big and small projects

@David T. Great advice, inspecting at each milestone seems it would get a little costly...

What I want to do is develop an eye for good work and what it looks like as  @David T. and @Morry Eghbal mentioned and kind of do my own inspections . I guess I will have to get deeply involved with the rehab process, unlike before.

My plan is to use you all suggestions develop my SoW, present to at least 4 contractors and get their estimates than select one from their

Helpful blog @Jeremy Tillotson 

Hello BP,

I have worked with contractors in the past and it did not turn out well. Both times the work was poor quality and I had to pay to get properties re done. Also, they had lack of knowledge on permit requirements. I am not well versed in contracting but find myself needing them for upcoming project.

How do you spot scam contractors? How do you identify good contractors that are not ripping you off?

Does anyone recommend contractors in Atlanta, GA?

Thanks in advance

@Morris Lucas 

I am an investor based in Atlanta and familiar with this area. Are you looking to place home under contract and assign? Or purchase the home?

@Steve Olafson  @Kalyb Coats 

Good Stuff guys.

Getting 100K and inexperienced... would use money as back up with lenders to invest in flips with a conservative 20% return on all, pay off loans. Use those profits as back up to finance 15-20 unit multi fam, micro manage experienced property managers, refinance draw out cash and purchase another 15- 20 multi family.

My thoughts...

P.S not retiring anything time soon