All Forum Posts by: John Weidner

Roofers are generally subs paid by the square.  They move as fast as possible and will do the minimum.  Either way a joist repair is not a roofers compentancy it's a carpenters.

any vinyl window company builds custom.  No real price hit. 

I'm not a huge fan of this because a 2-3 year old remodel carries a more "used" appeal to buyers than a brand new flip.  It's like buying a new car with 0 miles vs a 3 year old car with 20,000 miles.  Plus your hedging time here too expecting the market to maintain or grow. 

Do what you have too to get into the biz but keep above in mind a 2-3 remodel is not new anymore.  People want new. 

A roofer isn't a framer.  Sounds like you should of hired a carpenter to fix the framing before roofing.  Or inspected the joist yourself while they pulled the sheet off

@Craig Wilcox

I think you summed it up well - high taxes and I would say zero appreciation.  I'll add declining population as well.  

In my opinion it is clearly a cash flow play.  

I didn't realize the inventory was so low though.  Might have rents drop.  I looked seriously at that market last year I'll have to revisit it to look at inventory.

No "smart" builder is going to carry materials and labor until sale without being on title with ownership interest in the property 

Sell the property if you have no building experience or develop it yourself. 

warning for First responder

@Engelo Rumora

I won't be so kind.   The whole scenario is so bad it almost sounds staged.  

How do you lose control this bad when this is not your first deal and your running a company specializing in Turn Key properties?  Wow

There used to be a guy on here that posted quite frequently. 

Looking at their website it doesn't appear there is any update on SF Flips since Sep 14. That should be a red flag. 

What is the property address in Chicago?

Your risk is they don't pay then you have to go after the co-signer.