All Forum Posts by: Chris Adams

 Hi Melissa,

Other than my first rental property, I have always analyzed my own deals. I am a spreadsheet freak. I also have a good friend in the REI biz that has 200+ addresses who helped me a lot.

This week was a productive and busy one.

Because of the overwhelming support I received from all of the BP members I decided to take a video of the subdivision and all of the activity I had yesterday. I had a pump truck in use to pour a foundation wall on a new building. We had a crane going on another building setting trusses, and the 3rd building has siding and drywall being installed. 

I'm a darn good builder, but not a video professional by any means LOL. Sorry for the poor quality. This should give an idea of what the subdivision looks like and how busy I am.

Video

 Hi Greg,

Let me clarify this a bit. The previous owner had hired me in an attempt to save his failing development and recoup the money he had lost. Without him hiring me, I would never have been in the position that lead to me purchasing this deal. In the end I wanted to be able to help get him some portion of his life savings back. After all that is why he hired me in the first place. So I felt a moral obligation to make sure I followed thru on that deal. 

 Hi Christopher   

I got a new computer recently and can't seem to find that spreadsheet right now. I will try to post it in the near future. Im kind of curious to see how it compares to reality now that time has passed.

 Hi Trevor,

The short answer is I solved a problem for a bank that had a non performing asset that had been in default for over a year. While I didn't put any money down to purchase this property, I did posses all of the skills necessary to turn this development around. My situation was very unique, and these deals are not around every corner. But they are out there. If you read this entire post I explain in great detail how everything came together.

Hi Yolanda, For some people getting started in REI is often harder than REI itself. You may or may not need a full time job to qualify for a bank loan, but you will need to prove that you have enough income. Almost every experienced investor will suggest multifamily over single family rentals. But single family rentals is a great place to start for people that can't afford to get into multi right away.

It was for him to edge and trim the curbs/fire hydrant areas. My problem is he billed me without asking & I never approved this.

Neither him nor I have anything In writing other than the text message where he agreed he quoted $70/hr

A Subcontractor quoted me $70 per hour to cut vacant lots, then billed me an additional $40/hr that was not agreed to. We have been arguing and now he threatens to send me to collections.

The money is not important its $360 its the point. Can I sue him in small claims court for over billing me before he takes me to collections?

@Jedd Braunwarth

There will be plenty of before, during and after pics if I do the project. Actually I will do a before video. The home has been vacant for 10 years, and it was left furnished. Vandals took most of the personal property.  There is a hole in the roof and water damage to the walls and floors.