All Forum Posts by: Joe Cassandra

Worst is when property managers try and make it sound like they're the owners lol

"All my tenants are paying 100%...that's over 500 doors"

"Wow you own 500 doors"

"Well...you see..."

I use Propstream and then public records (every county is different so it can be a pain in the butt). 

For rental 'comps', I look at Zillow demand and Rentometer. 

Zillow data has good stuff (free) on inventory and price.

1. Only buy good deals

2. Don't fudge the numbers to make a deal work (not in this market)

To all the people that claim because 'inventory is low' prices will never drop...at some point inflation will hit a ceiling vs. what the buying pool can afford. 

Wages ARE NOT going up with all the job cuts...i.e. at some point housing can't go up anymore. 

Likely won't see that for another 12-24 months.

If you have Propstream, they can tell you fairly accurately what is owed on house. Just mortgages and 2nds.

Sometimes they will get the liens but not all of them.

Not sure why people would be ticked if they know how much you owe on a house. Everyone has a mortgage...

it's like people being afraid of giving out their address to people for "privacy" reasons.

I can find most peoples address in 5 minutes...it is all public. Nothing is secret amymore

It's actually a hidden message.

See the 873 is a clue...a clue to a bigger treasure.

I have on good Intel that 873 is the code you need to break into the backroom of the National Archves Museum in DC.

It isn't easy, but worth the risk.

873 gets you in.

There comes the tricky part.

The gun weighs exactly as much as the Declaration of Independence.

You must swap the gun with the Declaration of Independence. If you don't it trips the sensors, thus one bullet in the gun allows you to shoot yourself in the leg and feign a hit and run.

Maybe the Feds will buy it...maybe the won't. How much more money do you want?

If you manage to switch it perfectly, you must take it to Johnny in PA who will show you the map on the back of the Declaration to show you where the rest of the treasure is.

DM me if you want to partner up on this.

This seems like a lot of stress and worry for a $10,000 job. 

You could find plenty of people online who would take that on in a heartbeat. 

Go to Thumbtack or somewhere else. No need for a GC. 

You don't really need a GC for anything under $25,000. You should be able to get those contractors yourself.

I'm not a contractor, but have had work done in past 2 months and what Mathew and Meryl say are true. Subs are in high demand and material is on backorder. 

You need to look in lesser known places for material. (online individual shops, or just keep checking big box). Trying to get specialized "X" material will be on back order. 

I wouldn't overpay for labor. You just have to find your own subs. For a $10k project, there should be plenty who can do that work and who NEED that work. Calling the people on the "best contractors in Cobb county" folks will have you way overpaying and waiting.

Some of the quotes on these threads are like retail prices haha

Paint you could get for $1.50 - $2.5 interior with an investor painter. (same for outside). I just had a 2300 sq ft house painted outside for $2,300. 

Windows you could find for $250-$300...not $500 as someone said. 

Make sure you get an itemized list of stuff from the contractor. If he refuses, find someone else.

I agree with others that if the contractor says $70k, it'll go over 70k. The larger the rehab budget, the more it'll be off...

Get some more quotes. 

Maybe it's just me...but if this is your first flip, if you can breakeven or make a little money, that's worth the hassle. 

Else, you'll overthink every offer you make going forward...soon months and months will go by and you haven't made an offer because of your fear of what happened here. 

Most folks first deal is never a huge moneymaker. You're doing it to learn the business. I think there's enough wiggle room here to NOT LOSE money (unless you over improve, or something terrible not budgeted has to be done)

I think most people dream about having a pool...then there's a subset willing to spend the time taking care of it. 

We flipped a house with a pool. Wasn't terrible, but did not enjoy being there at 6am scooping leaves out of it before the showings started at 8.

:)

It depends on the state in the US as well. In Texas, a lot of people have pools. 

In GA, if the house is nice, some people will make an exception and buy a house with a pool. But not many buyers that are "I need a pool as item #1."

I like @Joe Splitrock #2 idea. 

If this is getting messy, just sell it, split the proceeds and start over. 

I agree with the others that #2 (2 years of future income) is BS. 

When I sell a dividend stock, the company doesn't give me 2 years of future dividends. No one does this. 

You're the one having to deal with the tenants for 24 months...not them...