All Forum Posts by: Jimmy Dudley

You are not paying rent you are buying the freedom of being able to leave any time you want with minimal hassle. 

The "miracle morning" works for some people. Some people can get an entire days work done before others eat breakfast. Others do better sleeping until 7 AM, drinking coffee while reading Bigger Pockets, listening to podcasts on the way to work and not being exhausted. 

Experiment with working backward until you find what is right for you. 

There are more kinds of partnerships than we can possibly cover in this thread. Look into an attorney, to help you outline everything. You may be glad you spent a little more up front to ensure you cover your bases. I also like the idea of limited time options to exit. Find someone who brings a lot to the table and shares your values and goals.  

Vinyl is safer in this instance. Don't get me wrong wood is nicer, my whole house is wood floors. My investment properties are wood floors when I can get them. But if you run the risk of repeatedly having to replace them just do nice vinyl and don't worry about it. 

If you are hoping for this to do double duty as a long term buy and hold / appreciation play then I hope you have decades to wait for that area to catch up to the areas around the stadium. Like @Russell Brazil said, you may find yourself unable to use your VA if it can't pass appraisal condition requirements. Consider having alternative financing available if you are determined to close the deal.

Most contractors, charge a markup on materials. If you ask they will tell you what it is. I don't know any contractors who would allow you to buy your own materials. That mark up is part of how they calculate their bids. So you may save a some money on materials but you will give it up on labor.

Plus if you trust your contractor so little that you believe they are lying about material costs then you need a new contractor.

Be very careful, some states have strict rules governing deposits. You should get professional advice based on the location of the property. 

If the fridge is unusable then charge them replacement. The fact that it still turns on has no bearing. If they broke the front to a gas fireplace, we wouldn't be saying well it will still light.

As an aside, I like GE products personally, easily repaired and parts are made forever. I rebuilt a gas stove with parts from China for a fraction of what GE charges. You live you learn. 

This is a zoning department issue. Don't waste your time chasing down liability with the title company or surveyors. I have had great success when I approached my local zoning department with humility and honesty. 

Tagged for future reference.