Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Matthew Paul

Matthew Paul has started 166 posts and replied 6748 times.

If the guest house was permitted , you shouldnt have to do anything . 

Post: Buying a House Near My Kid's College: Smart Move or Risky Bet?

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,917
  • Votes 7,510

Talk to an accountant . 

Post: Multifamily - Septic

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,917
  • Votes 7,510

The tank size doesnt matter as much as the perk rate of the soil .  10 gallons goes in and it displaces 10 gallons into the drain field . The tank holds the solids to allow them to settle and break down . 

Post: How much caulk?

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,917
  • Votes 7,510

Estimating is the key word .  You either have paint left over or you run out . Same with caulk .  I

If you are paying a flat price to get the house painted , who cares how much paint he uses , as long as its done . If you are paying time and materials , take the unopened paint back . 

Post: How much caulk?

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,917
  • Votes 7,510

Better to over estimate and keep working than to run out and have to stop , and then get more . 

Sounds like you rented to a hooker .  Good luck with that 

Post: Cleaning Fee for Slow Season and Short Stays

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,917
  • Votes 7,510

Sounds like you need to raise your rates . 

Or if things are that slow in the off season , shut it down , if the rent is canceled out by the cleaning , you are still losing money , electric and wear and tear . 

Post: Contractor says I can't buy my own materials

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,917
  • Votes 7,510
Quote from @Steve Rogers:
Quote from @Matthew Paul:

You are not going to save any money by supplying the materials . The contractor will make the same either way . Probably more . 

I guess when you go to a restaurant , you bring your own steak and ask them to cook it ?  Some restaurants will let you bring a bottle of wine , but charge you a corkage fee. 

When I run into a customer that wants to supply materials , my estimate is over then and there . Learned my lesson on that in the early 1980's . 

Contractors are running a business , we mark up materials , we mark up labor , we mark up our subs . Thats how we make a profit . 

If you supply the materials , and you order the wrong stuff , or dont order enough , and the contractor is there with 5 guys and cant work due to your mistake . You are still responsible to pay for the day for 5 men . If you buy the expensive kitchen cabinets , and the contractor accidently drops a $900 section . Does he pay ? Now if he supplied them he has some mark up to cover that , if not he takes a hit . 

 In other words, if they supply the material you can't charge a 30% material markup.

Nothing to do with steaks.

People understand that contractors are not interested in saving them money.

That is why they hire day laborers.


 And thats why they get a crappy job .    

Now , day laborers are great  , clearing out a hoarder house , doing a complete demo . But once you start putting things together , they are useless . 

We get a discount on materials that you wont get until you are spending $50K a month with the supplier . That is a benefit to the contractor .  

Contractors provide a finished product , we are not labor suppliers . 

Customers with this attitude are the type that contractors avoid like the plague . 

Post: Newbie Investor needs help with lending

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,917
  • Votes 7,510
Quote from @Tyrell Henry:
Quote from @Matthew Paul:

For someone with no experience doing a BRRR investment out of state EVERYTHING has to go right . You have to find a great deal , in a good area , find a great contractor who can get things done fast and priced right , you have to then find a great tenant who will pay the rent .

This is hard to do , even harder long distance '

As a contractor I can tell you this , rehabs almost always go over budget , and take longer than expected . There is always a delay on supplies , problems that come up , permits and inspections .etc . 

Investing is NEVER a sure thing if it was everybody would be doing it . 


 Thank you for that, i'm not sure how I will figure this out but this is something that I have to make work. If anything I may have to take my cuts and bruises locally before out of state.


 A good way to learn is in your own back yard .

Post: Contractor says I can't buy my own materials

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,917
  • Votes 7,510
Quote from @Steve Rogers:
Quote from @Matthew Paul:

You are not going to save any money by supplying the materials . The contractor will make the same either way . Probably more . 

I guess when you go to a restaurant , you bring your own steak and ask them to cook it ?  Some restaurants will let you bring a bottle of wine , but charge you a corkage fee. 

When I run into a customer that wants to supply materials , my estimate is over then and there . Learned my lesson on that in the early 1980's . 

Contractors are running a business , we mark up materials , we mark up labor , we mark up our subs . Thats how we make a profit . 

If you supply the materials , and you order the wrong stuff , or dont order enough , and the contractor is there with 5 guys and cant work due to your mistake . You are still responsible to pay for the day for 5 men . If you buy the expensive kitchen cabinets , and the contractor accidently drops a $900 section . Does he pay ? Now if he supplied them he has some mark up to cover that , if not he takes a hit . 

 In other words, if they supply the material you can't charge a 30% material markup.

Nothing to do with steaks.


 If I mark up materials 30% thats probably what they would pay at Home Depot or the lumber yard , They will probably pay more  , and pay for delivery .  Never in my 40 years as a contractor has the customer supplied materials . 

Contracting is about making the business money , not saving the customer money .