All Forum Posts by: Matt Groth

@Tanner Foy How to approach? It is pretty easy to figure out who the better contractors are in an area. It would help if you already had a project. I can't put you in a schedule, if you don't have anything yet. You need to know exactly what you want done, and to what level of finish. Put yourself in the contractors shoes...we are very busy, at least the good ones are. You don't go to a restaurant, sit down, and tell the waiter, "I think I might be hungry in the next few months, could you tell me.about all of your menu items? As well as how much each ingredient costs you, as well as your markup? " My question is what do you want from me? Other than seeing if you get along, what can I tell you that would make you comfortable? Most of my jobs are on reputation, and price is a secondary consideration. People call, they have a project, and want it done. If someone wants to meet, but they don't own anything yet, I politely tell them get something and call back. My guess is that after all of this, you likely will still want to hire the cheap guy, and then wonder what went wrong. To continue with David's rock star theme, if you want Guns N Roses to play for your private birthday party, it won't be 30 bucks an hour.

@Tanner Foy David also says rock stars know other rock stars...If you are thinking about maybe buying a guitar, do you call Slash? Just start, you won't regret it

@Tanner Foy the people that are good at what they do are not sitting around waiting for the phone to ring...do 10 deals, after 10, you will know who to work with. You will have weeded out those that can't cut it. I'm a gc, booked out to 2022. I literally don't have time to talk to someone for very long that may, perhaps, some point in the future, consider buying a house, or duplex, maybe a tri, in my area, but maybe in Tennessee....you get the idea. Details are fine, but they get in the way.

@James Hamling Imagine this...you buy a house for 200k, 20 percent down, so 40k. Now, instead of cashflowing 200 per month, it is 0. Over 30 consecutive years. Now the market is cut in half. Your 200k house is worth 100k. 30 years have passed....how did you do? Up 150 percent. That is if basically Armageddon happened. Time in the market is key

I get it. The time for deals was anytime before now. Prices are high, compared to the past. If you are truly looking for a great deal, it likely won't be on the MLS. Start door knocking, odd houses, places that need rezoning, etc. I didn't see the house you offered on, it may have been the right move, but over time rents tend to rise, your mortgage stays the same. What if instead on renting a side for 900, you rented by the room? Took on a roommate on your side? I get not all options are available to everyone, but be creative. Good luck

@Gerardo Hernandez I wanted to add to my last post. My point of the increase in my agents house was not that you can guarantee any kind of appreciation. However, add in increased money supply, inflation, locking in 30 year money at such a low rate, increased labor costs, lack of skilled trades, not enough units being built...it is very hard for me to think prices can drop much

@Gerardo Hernandez the difference on the mortgage is probably 100 bucks or so per month. Now factor in the drive you hate. I'm with @James Hamling, I don't see prices dropping anytime soon. A realtor friend of mine bought his first house for 26k in the late 80s. He was panicking, but bought it. He sold it 10 years later. It is probably in the 240s now. He could have paid 75k, and would still be up 300 plus percent. If you were buying it strictly as an investment, probably not. But as a place to live, closer to work???You likely won't find anything cheaper

Without the benefit of hindsight, only in the moment analysis,  when was the last time property was "cheap"? Labor, materials costs, and interest rates, money supply...something needs to DRASTICALLY change for prices to drop appreciably...

Yeah....what James said better than me!!!!