All Forum Posts by: Jeff R.

Hi all, 

I am looking for a contractor in the Northern VA area, Spotsylvania and Fredericksburg area. The contractors I work with do rehabs for me in MD, however, I am now investing in VA and would like to connect with a contractor in VA. I have project coming up and would like to start dialogue. I tried the contractor tab on BP and home advisor is matching me to SEARS...., not a chance!

Thanks for reading.

@Daniel P. I have checked out the lenders on BP, thanks. Do you have personal experience with any of them?

Here are the basic number on the, and of course I would be providing detailed estimate/analysis. 

Single Family Home

4 Bedroom 3 Bath

3,100 SQ FT

800 SQ FT, partially finished basement

Attached Two Car Garage

ARV $349,900

Rehab estimate $50,000

Contracted Purchase Price $185,000

Hi all, 

Does someone have a recommendation of a local hard money lender in the northern VA area that they have used. I invest in MD and VA.

Thanks!

Hey everyone, I’m looking for a solution in Submetering the water bill to tenents of a 12 door multi family building in the DC/Maryland area. I read about ratio utility billing systems (RUBS) and curious to hear about personal experiences with this. I am open to company recommendations.

@Aaron K. I 100 percent concur with that logic, however, I feel that maybe there is a chance that tax wise it would keep folks from claiming "expenses" at the tail end to dodge the tax man. That would be so easy and I don't think the IRS would rely on the honesty program. BUT, If this is an acceptable fix for a one time problem,  than I welcome it.

Rookie mistake. So I just closed on a sale and received the settlement check and was more than expected. I soon realized that the check had over budget expenses that I paid out of pocket included. So my renovation was estimated at $35,000 (hard money) and I came out of pocket to cover the over budget of $12,000, $47,000 repair when done. It was a small flip that got pricey, nevertheless, the house is sold. But now I am holding a check that has $12,000 of personally invested funds that will now be taxed as income for 2018. Any recommendations?

Years ago I rented a room from a friend who rented a house, the power bill became astronomically expensive, $800 approximately. We did not get subsidized in any way, bared the burden of paying the bill. After we left it turned out the unit needed replacement. Had we known it was the unit, we would have requested a rent discount of some sort. I am a landlord as well and have dealt with other expensive repairs, but non utility related. I would request a receipt of the bill for tax records as an expense and agree to assist with 1/3 of the cost, since you are installing a new unit, and if they are good tenants. Additionally if the HVAC guy did a crappy job, maybe have him roll some of the original cost into the new unit. 1/3 of $700 isn’t worth the time of replacing a pissed of tenant.

Hi Ed, first of all congrats on you deal. Are these 10 units an apartment building? If so, I actually have some questions on your process in acquiring. Sorry I don’t have the answer for your question.

Nice work! 👍