All Forum Posts by: Account Closed

Hi @Jim Snyder , Mike developed a macro enabled spreadsheet. I'm happy to send it to you. What is your email address?

Oh ok. That makes sense. I don't think you will find it in Delaware County. It's got some pretty high taxes so your hurdle is pretty high. 

Philadelphia might be your best bet but not in the up and coming areas (like South Philadelphia, Fishtown etc.). North east philly, North philly are probably better. 

I don't know about NJ, but I've heard that state is very pro tenant. 

What do you mean by 1.5%+?

Thanks @Drew Farnese , have you ever used these guys?

Thanks. Have you used them before?

Hi Everyone -

I'm about to start a flip and I was looking for recommendations on painters for this area. It's a 3,000 square foot house.

Any help would be greatly appreciated.

Thanks,

Hi Everyone -

I'm about to get started a flip and I have hardwood floors that I would like to repair, refinish and stain about 3,000 square feet.

Does anyone have any good references for this area?

Thanks for your help.

Thanks everyone. Great feedback!

@Jeff James   - I completely agree. I'm not doing enough business (yet) to have that kind of leverage and so that's I'm wary (and why I'm asking :). My "Go To" has always been get a draw schedule that is reasonable and where neither party is significantly floating the other and then make the final payment contingent upon my satisfactory completion of the project. So how do you manage this risk?

@Blake Merrell   - Those clauses are definitely solid and thanks for the legal disclaimer! Do you rehab properties yourself? Have you ever used a LD clause?

@Bill Gulley  - So you are a contractor and investor? Do you get contractors for your investment properties? If so, what do you do to mitigate the "Delay" risk?

Hi Everyone -

I'm about to start a new flip and we are trying a new general contractor. It is a fairly large job according to my standards (over $90,000).

We are in the midst of getting the contractor agreement in place and I would like to put in a "Liquidated Damages For Delay In Construction" clause. I like the idea in theory but I'm not sure how successful in implementing and using it. 

• Do people use these in their contracts with contractors?
• How successful have these clauses been?
• What is the language you've used in these clauses?
• Do you give the GC a grace period? If so, how long?
• How do you determine whether liquidated damages are due (under this clause) in the normal course of construction?

Any thoughts would be appreciated.

Hey Kyle -

It all depends on what you need him to do.

• If you need a realtor to just run comps based on your criteria and make tons of offers (assuming he is good with it), then he is your guy.
• If you need someone that has knowledge of a particular market, then clearly he isn't.
• Like you said, the + is he's got the electrical background which is awesome.

I personally would rather have a realtor that can send me comps (which takes significantly less time than actually doing the valuation) and make tons of offers on my behalf. I think the experienced guys/gals get busy with a lot of other clients and don't necessarily share an investors vision of success (which most likely includes making more offers than are accepted). But again, it all depends on what you need from him.