All Forum Posts by: Chas Fabiano

@David Oldenburg I have been researching it since Andrew mentioned it.  I really want to go this route but I would like to find someone who has experience with it to do the work.   So far the people I have contacted have not used it. I may just breakdown and do it myself so I can understand the product (and any excuses that are sure to follow from future contractors concerning it (-:) 

Thought I would provide a little humor. You're going to be really surprised by this... The contractor didn't take to kindly being "told" what to do by a women. He is pissed. He told me "who knows more?", "shellac primer is illegal", I could hire whoever told me how to do his job (so...do any of y'all want to do my cabinets for me?), if he sanded the cabinets they would rust, and I was not allowed to ask any more questions. (-; I reckon he will get over it or move on.  Luckily I have had the opportunity to work with contractors and subs for 7 years. I have been here before. My skin is pretty think. Crazy thing is, overall he does a good job but when it comes down to questioning how he is doing something he flips his lid. 

Years ago, I worked as the national sales manager for Bengal Chemical in Baton Rouge LA and we created and sold the "best" roach spray in the world. It is Bengal Roach Spray. It works like no other and I know because I sold thousands cans and tested hundreds of cans. It uses a powerful synthetic pyrithroid that attracts roaches and attacks their central nervous system. It works in 24 hours and will kill thousands of roaches. I tested it in a filthy duplex as well as many other places and it kills roaches better than anything. Boric Acid works by plugging the roaches digestive system. This method is very slow and does not attract roaches. Nothing attracts and kills roaches like Bengal Roach Spray.

I would bill her for the repair. I would move for eviction if she didn't pay. 

OK OK I wouldn't actually do that because I am a lousy landlord. But that is what a good landlord would do. Either you train your tenants or they train you.

@Chas Fabiano 

Thank you very much, I am glad i could help clarify that for you!!  I do love Real Estate, since all 8 of my kids have all grown and moved out on their own, I had to find a new passion!!!!  I love learning, and I learn something new everyday and apply it to my business!!  

As I said in my earlier statements, as a Investor you must LISTEN to the needs of your sellers, buyers and colleagues to really know their situation what they need and THEN great deals will happen for both parties!!!  Honesty and Integrity is very important to me and with that I get repeat business and word of mouth business!!!  

Have a great day and if you ever need any advice, don't hesitate to ask and if I don't know I will help get the answer for you!!! 

Sondra

@Chas Fabiano just FYI her 18K that she owes on her mortgage comes out of her 69,500 cash offer!! You don't take that off the ARV, ARV stands for after repair value!

I used the 10K wholesale fee as an Example as i said, and you can set your wholesale fee according to your deal and price point of the property you are wholesaling!!  This is where the integrity comes into play and knowing my sellers, knowing my buyers come into play.  I love repeat business!!  I don't want to screw people over either, so if i was to wholesale this particular deal and ask for a 30k wholesale fee this seller would get only 49,500 from me.  Which in turn minus the 18k mortgage she still owes, now gives her 31,500.  

I listen to my sellers, i am here to help them!!! Yes, I want to make money, but i make money by repeat business and word of mouth. My wholesale fees depend on the ARV of the properties.

 I stand corrected and humbled.  Thanks

@Chas Fabiano THE "remaining mortgage" has nothing to do with ARV, or the 70% calculation.