All Forum Posts by: Jennifer Robinette

@Manolo D, Thank you, I have lost one contractor when I asked for more detailed estimates. I am puzzled a little bit as the only thing I ask is to breakdowns of fixes but he never got back to me. I know it is hard to struggle wih time etc but I think certain effort needs to happen to get more work and who will hire you for just a one lump sum number. 

I did find some good contractors who show more efforts and business acumen and hopefully I will develop a list of my trusted contractors soon. 

I like your idea of providing scope of work and material to ensure quality. I dont mind paying a little more to good contractors to ensure the quality of the work. 

Jennifer

Thanks everyone! I haven't got any email alert so I thought no one has answered my question! I decided to check today to see if I need to repost. I am surprised and very happy to see all the responses! All the suggestions make so much sense. I have met a good contractor from BP recently and I think will keep trying to get more so that I have a network of people to work with. I think it is long way and I will keep climbing!

@Ryan ShawHow is the market in Winchester? I am thinking to go check out the area and potential buy some rental properties.  

@Hugh Ayles   @Colin Smith

I think line items make sense and I will be happy with getting that level of details for the estimate. It will at least give me enough information to check how different each item is from what I thought. 

@Ryan DosseyGreat idea to build a budget then work within the budget. I guess I am too new that I don't have much sense of each line item might cost. I will need to start building my knowledge base and my own cost/budget for different items. 

Hello everyone, 

I am a real estate investor and recently joined BP. I have been an investor for years but I have been very passive! :) Recently my husband and I decided to take the rental business to the next level. We want to get a $10000 monthly positive cash flow within the next five years! I have started building up my own team of experts but have been struggle with finding the right contractors.  I have a couple of them I used before and thought might be good to use but realized that I need more options. 

I have a few questions to ask the fellow investors.  

1. How many contractors you establish and keep a relationship and how to make all of them engaged

2. When you ask for estimates of work, how do you ask them for the detailed estimates? I have done a few estimates but they all give me a range and are reluctant to give me any detailed breakdowns unless I choose them for the job. Which is kind of a catch 22 as I need more information to decide if I want to use them or not. How do you deal with this situation? 

3. Do you know any good contractors in Northern Virginia region who are reasonably priced, punctuate, friendly to investors, and with good quality of work? 

I appreciate any suggestions or help you can offer! Feel free to send me email directly if you want to establish a business relationship.

Thanks

Jennifer 

Jordan, I completely agree with your decision. The letter seems heartfelt but there is always a reason and they always seem legitimate initially. I have had experience with a tenant that had a few late payments on his credit history and his credit was 640, his explanation was he had a heart surgery at the time and didn't keep up his bill. He was nice enough and I believed him. He was LATE every month! One reason or another and all seem to be good reason. I did not end up loosing money as he always managed to pay me in the second half of the month plus a penalty. However, I would rather not hear from him ever instead of chasing down my rent every month. After that experience, I stopped believing people's story. People who care about their credit would do whatever they can to make sure they never get into those situations.  

On top of that, no matter how long it was ago, any criminal history is a no-no to me.  Again, people who are responsible won't allow themselves get into those situation ever! 

I have a brother in law who is very nice person. However, he has bad credit due to the last recession and he has a criminal history when he was 18. He is 42 now. My father in-law rent out his house to him with a much lower rent, he couldn't keep up with the payment and did 't keep up the place and the police were called many times to visit the property. My father in law ended up selling the property. If you talk to my brother in law, he has all the good reason, and he apologizes for his behaviors and it was always other people's fault that he got into some sort of bad situation! 

So your potential tenant might be the nicest person ever and is probably regretted with the past history, but it will repeat again if situation gets bad and there is always someone else to blame! 

Any extra deposit or rent won't compensate the extra hustle you will have to deal with later. 

Jennifer

do you have before and after pictures and the rental history? are they currently rented?

Thanks for sharing your experience in such details. I admire your persistent effort of learning and I know you will soon get your first deal! I am an investor and I am always looking to buy houses to renovate and rent out to build my rental portfolio. Just sent you a connection request and maybe we will do business together one day!