All Forum Posts by: Kyle Nigro

That would make a lot more sense. I think I’m going to have to discuss this with an attorney about the contract that was set up, but this is getting a little ridiculous.

Hi everyone, 

Long story short. I have a contractor working on a BRRRR in the STL area. We have a signed contract agreement that the project would be completed by 5/15… As of today, they are still working on it and I was advised that it will take another 3 weeks. The manager I'm dealing with has contacted and admitted to the mess-ups that are delaying the project. How much weight do I have here? What should I do?

The previous contractor contacted me in a group text message with his attorney stating I owe 4k… I don’t really intend on paying him anything being that I contacted a former contractor and electrician of his and they told me that work was not done.

Welp! Just an update.  I fired him, called his bluff, and there really wasn’t an issue.  He asked for an amount to be paid for the minimal work that was done.  Once I have that verified, I’ll cut him the small check and be done with it.  I Appreciate everyones help in this forum.

I purchased a flip a few weeks back.  The contractor I had working for me gave me a spreadsheet of the costs, but nothing was ever signed.  He said it was “in good faith” after one of his managers made some critical mistakes on the first estimate.  I should have left them the first time…

Long story short, minimal work was done within the scope and I’m looking to move on. what am I legally obligated to pay him when minimal work was done?  He told me he was to get his attorney involved, but I don’t have a contract or anything with this company.

I have another company lined up but I don’t want to burn any bridges.  How should I approach this?

Thanks! 

@Andrew Postell WOW! that's great to know... Thanks!

This will be a buy-and-hold for the next 5-7 years, depending on where the market is.  I appreciate everyone's response!

Hi @Mark Munson,

I appreciate the response.  This is my first deal using OPM, so it made me a little hesitant.  Was not sure if the feds changed something that would restrict me from cash out refi at 6 months to pay back investors.

Hi all,

I just had an accepted offer on my second BRRRR in STL. I've been hearing rumors that many banks will not give out cash out refi's at six months? Is there any truth to this?

Thanks,

Kyle

@Michael King

PM if possible. Which company do you use?