All Forum Posts by: Josh Norris

[url]@Bryan R.

Bryan thanks for the advice I greatly appreciate it. I have some guys coming out to start giving bids now. I was able to negotiate some really good terms that gives me plenty of time to get the costs figured out. My thoughts were if I can buy this property for cheaper than I can buy land and for cheaper than building I can't lose. I estimate with everything I will spend about 50-60 in rehab and that is on the high side.
I see that your down in Tacoma, I have noticed some pretty good deals down in that area still. We should get together some time and chat.

Thanks Anson,

I guess another question is do you typically hire subs for everything or do you hire a general and have him oversee the project. I'm thinking I will oversee the project because a general will definite eat into the profits with their added costs.

Brandon,

Thank you for the advice ill definitely do some research, there a couple flips going on in the area and I'm sure I can find the owners fairly easily. I'd love to make it to the meet up but have a baby due August 2nd so need to stay close. I'm originally from southwest Washington near castle rock so I definitely know where you located. It would be great to link up and grab coffee, or buy you a steak since everyone offers coffee, yes I'm a big fan of the podcasts

Wanted to throw out an introduction after following the threads for the last month. My name is Josh and I live in the Seattle area. I've spent the last year reading books, listening to podcasts, and researching the Internet for everything motivating and real estate focused. I have a pretty long family history in real estate investing but am very self driven and am trying to get started on my own, I am taking some family advice but also trying to learn things as I go.
I have not started any marketing campaigns yet but I did get my first contract signed yesterday, so excited. It was just up the street from the house I own and I had driven by it 20 times always telling myself I need to research it. Well I finally did and it turned out the owner had died with no trust or will and his mother had taken it in probate. No mortgage owed, house is a serious dump inside and 10' sticker bushes outside. We negotiated for about 3 months and I finally go her to agree to 88k with comps for same size lot and house in area around 240k-260k ARV.
Now my question is where do I start looking for contractors and how do is find the best price for good quality work. I have the bigger pocket books and they are great help with estimation but where are people finding their contractors? Craigslist, online, referrals, etc....
One last thing this website is nothing short of amazing. Very intelligent and successful people everywhere and I thank you all. The podcast is great too and has taken the place of all my other podcasts and is pretty much the only real estate podcast I listen to.