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All Forum Posts by: Bob T.

Bob T. has started 10 posts and replied 44 times.

Post: Do you avoid house with asbestos? Here is what I experienced

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

I didn't see the 9x9 tiles until few weeks later, when my partner lift up the old carpet and discovered.    YES the tile was friable, ... it was pretty bad.   I don't think the previous family care that they cover up the stuff with carpet.  

Learn something new every day!

Post: Do you avoid house with asbestos? Here is what I experienced

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

It's first time my team ran into this problem just sharing, maybe will hear what others have experienced (cost, avoid them?).

Lost about 1.5 month (mostly due to all the holidays) after we discovered 9x9 vinyl tiles under old carpets, encapsulation wasn't an option since vinyl were in very bad shape.  

I called up a local landlord who give me his contact to a Test Lab near by me.  I was able to get the result the next day .... tile was positive but the mastic (adhesive) was negative!  Not sure what is the saving if I had to also remove adhesive.    Anyway, I called around but the references Test Lab provided were all doing commercial abatement and some didn't return calls.    I learn a lot from calling different companies and got ball park cost of $4000 for 1000 sqft (permit, abatement,  another test).   $OUCH$

Here are some photo:

 I can't go in side the "bag".   Furnace is off and it was about 20 degree outside.

everyone was watching this guy testing the air sample, indoor was maybe 30 degrees.   We passed!!  

Now we have to try to get our GC back hope we wont loss any more time.   Happy New Year!

Post: Does bidding for "everything" include dumpster and porta potty

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

When request bid from General Contractors my SOW stated bid to include everything from gutting to buy materials and rehab per plan.  BP member's suggested the bid to separate for labor and materials.    I was surprised by my GC's final bill line item called miscellaneous (which is not labor nor materials), this include dumpster rental and porta potty.   The cost of this item is few thousand that my team didn't budget for, but I would think as a contractor he would have an idea on long he need the dumpster / porta potty.  

Before I get all the contractor mad I at me, I did paid in full.   I wouldn't want his worker have to pee in the yard  or mess up the new bathroom :)  But this leave me wondering, was it something I missed in my SOW?   Shouldn't dumpster  and potra potty rental be include in the materials?   

Maybe I need a statement that covers EVERYTHING?

Post: What does buyer do in a wholesale process?

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

Thank you @Stephen Barton  sounds easy enough, of course due diligence is always a good idea, walk-through on the day of is a good idea.

I don't need any more spams :)  but will reach out when we are ready.   Will try to network and who knows!   have a wonderful week.

Post: What does buyer do in a wholesale process?

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

I searched the forum, but found most topic on how how to be/do wholesale, but what does buyer do? Other then bring money :) My partners and I deals with MLS + agent, want to expand to wholesale deals. What due diligence as a buyer I need to do?

Stop by the place (a few times) make sure it is as described, make sure no major issue.  Engage closing attorney (is there something extra they need to do?) to make sure title clear and no lien?  wire fund... show up and sign? 

Thank you,

Post: In love with Chicago brick bungalow

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

@Gautam S ,  another rehabber was working on it.   One day I'll own a few flats ;)

@Seth Williams  yes, North market is hot, always multiple bids.  If you are careful there area in the South.   

@Richelle, yes some of the bungalow we got looks like previous owner rent out the basement (or maybe in-law situation).

Post: Question

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

@Adam.

the Expeditors you are speaking of, is that the one that runs around getting your permit?  If that is the position you are speaking of, I don't think they slow things down.   Because it'll take more time for me or GC ($) to stopped by City Hall or Building dept, filled out all the correct forms, wait in the correct line and have all the information needed.  

Post: In love with Chicago brick bungalow

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

Originally I want to start a blog, but sadly I am not much of writer.   Compare to J Scott,  Seth Williams,  Ben Leybovich etc I can't write more than few paragraph before I get side tracked.

So I decide to post something I been working on this forum, maybe doesn't require perfect writing.


Bungalow is everywhere around Chicago many of them where built between 1910 and 1940. They are ALL solid brick (not like the face brick in newer house) and always has good foundation.   Sturdy brick homes are beloved, ubiquitous and distinctly in Chicago and there are tons of them that need some rehab :)

My team usually work with house average age of 80-90 years.  We don't touch historic area, the overhead is way out of what we want to do.

Pro: 

Solid! remeber the story of "big bad wolf and the 3 little pigs".
Timeless
Not much exterior maintenance.  Please do not paint bricks.

some before/after

Con: 

cost of create new window or door when you need to change layout.

matching bricks is an art.

Post: What are the "secrets" and "strategies"?

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

Everyone learn differently at different rate.

Some jump in naked.

Some take classes, coaching etc.

Some study with book/BP etc.

As long at the end of all that time, $, energy they take a positive step toward their own goal, I think that is secret! The secret is your own journey, which no one knows until you talk (blog) about it ;-) how much you want to charge for it is up what the market is welling to paid.

Post: I would buy J. Scott's books if...

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

If you have newer Android smart phone you can try @Voice Aloud Reader. I use it while driving and my kids make fun of "I..a.m..a..r.o.b.o.t" voice. It uses TTS (text to speech) package that is on your phone or you can paid for better one.