All Forum Posts by: Mark Armstrong

Actually, the cost was not so impressive, it was $29/sq.ft. (typo/brain fart). I was scratching my head why everyone was so impressed.  Total rehab cost with plane tickets, fuel, rental cars, wages, material almost $80K.  Sorry to disappoint lol.  But it wasn't one single contractor it was ten or so trades (some labor rates were as follows...framers $3K, tree guys $4K, floor and tile $7K, Foundation $7K, roofers $5.6K, sheet rockers $5.5K, Electrician / plumbing $6K, millwork/paint/general carpentry $14.5K etc...)  I guess I was the main G.C.  Was actually a lot of fun.  Used a lot of skype.  I have been employing diesel mechanics so long that working with all these trades was a thousand times easier than working with greasy pissed off mechanics.  The house turned out really nice and I want to post the pictures but they want me to convert them all to low resolution and I simply don't have the patience.  I did post a link on Facebook (above) if interested.  The house was amazing.  Real cool old fashioned looking house that was built in the seventies but had a high pitched bell roof like something from old England.  (Picture posted is before paint and brickwork but you get the feel for the home hopefully)  Really hated letting total strangers move into it.  My wife and I were so in awe that it ended up being nicer than the house we call home but oh well.

Hi Matt,

Very nice.  I am at .29/sq.ft for a massive rehab that took everything down to the studs on a 2700 sq. ft. home in Houston (the works, new roof, lifting the foundation 6", brickwork, crown molding,  two new bathrooms, added a fifth bedroom etc...).  Not sure if I can post all the pictures here but you can also see my link in facebook.  I really need another project in Houston or Dallas Ft. Worth.  I am just twiddling my thumbs right now.  Looking for a deep discount that needs alot of work, need more than a little "meat on the bone."  Just trying to be cautious for a market adjustment. 

Thank You for your reply's.  All the problems came up during the inspection and we were within the ten day inspection period.  Getting him to turn in my offer felt similar to getting my child to jump in the bath.  Anyways he is gone.  Onward and upward

Hi All,

God I feel awful posting without putting a picture.  I know real lame after the onslaught of pleas and threats on the pod-casts, I have been avoiding posting just because of the dumb picture thing, but I am in a pickle and thought today's experience was worth mentioning.  

I was hoping to find an investor friendly real estate agent in Fort Worth. I went into contract with a house and it had quite a bit of drainage/foundation/ AC issues $10K - $15K (which is a ton of cash for Texas). I requested my agent to adjust the offering price accordingly and he seems upset and really not having it. Scratching my head on his temperament. Their are nicer homes for a bit more all over the area so I don't think I am off in figuring the deal is not that good to begin with. I attempted to explain the "you make your money going into the deal" regiment, I'm putting up all cash, but he would rather pull the offer entirely rather than offer less. It's almost like I am playing chicken with the guy, if I don't stick with my current offer than he wants nothing to do with me. Sooooooo darn confused, maybe some one could enlighten me.

My current theories are

1) I may be ruining his rep with the other agents by offering 15K less

2) Their were multiple offers so he has a higher backup

3)???????

Anyways I have money and time invested in the area and want to move forward so any good recommendation is greatly appreciated.