All Forum Posts by: Mike Reynolds
Mike Reynolds has started 31 posts and replied 2028 times.
Post: Question for Texas Investors: about New Texas Pool Code
- construction
- Nacogdoches, TX
- Posts 2,091
- Votes 1,164
Originally posted by @Alan DeRossett:
60. or is this a buying opportunity to upgrade properties to meet modern Drinking water health standards. Release lots of upgrades will need to be done on homes older than 1988. and new buyers or renters may start asking sooner than units are upgraded.
Honestly? In Austin and central Texas it's already there I am sure. If Cali does it? So does Austin. New Braunfels and San Marcos is not far behind.
The rest of Texas? Maybe it will be implemented by 2227. If we are still around by then anyway. We just got sunlight piped in around here in 1978.
Post: New Market Investing in Hillsboro Texas
- construction
- Nacogdoches, TX
- Posts 2,091
- Votes 1,164
I was just in Hillsboro and Whitney last weekend. Still looks the same as 2 years ago when I was last in that area. Hillsboro looks like there are still dead spots there. I have been traveling through now for about 20 years. On the other hand, Whitney has grown a little bit in the last 25 years. If I were to invest between the 2 it would have to be Whitney and probably near the lake.
Post: Kilgore, Texas area Electrician needed for total rewire
- construction
- Nacogdoches, TX
- Posts 2,091
- Votes 1,164
Originally posted by @Perry Schoolfield:
Haven't been on here in a while. I'm looking for an investor friendly (reasonably priced) electrician to rewire a 2003 build in Kilgore, Tx. Please let me know if you have anyone in east texas area that is good and hopefully reasonably priced. Thanks
I'll PM you a number.
Post: Shipping container Airbnb
- construction
- Nacogdoches, TX
- Posts 2,091
- Votes 1,164
Originally posted by @Daniel Paul Goodman:
@Jingru Sui I have not heard of them before. I'll check them out!
It wouldn't let me tag you so I'm quoting this post.
Are you looking for investors to buy the product or just getting feedback for your own plan?
I see no reason why this wouldn't work. Especially if you can build them for 30k. Even if it cost 50k to build and set up you wouldn't need a lot of annual income to pay that off.
Post: Estimating Expenses for RV Park Conversion
- construction
- Nacogdoches, TX
- Posts 2,091
- Votes 1,164
Originally posted by @Reid Hanley:
Hi BP,
I am looking for an estimate of what an 'average' per month expense will be for RV lots where I the park owner include power and water in the monthly rent? For this example, let's assume the RVs have 2 ACs and are all electric (no gas). We are in NW Florida, so our winter can be moderately cold in Jan and Feb and we also have to deal with May-Oct high heat and humidity (high AC usage). Can anyone estimate what the power/water bill would run per lot based on this scenario?
Thanks in advance!
The water is a crap shoot as every municipality is different. Maybe 50 a month or less I would say. Probably less? Electric I would say at least a 100/month. Maybe 150? You will be less in the winter overall but more in the summer but that should be your average. I am about the latitude as you. Plus just as humid.
BUT, I am also an RV'r. Most dont have 2 ACs and a good few still have gas heat. If you have a park you may want to sell propane. Not the tanks that you fill yourself but maybe a 3rd party type bottle exchange where you get a cut. It wont be much money but speaking as an RV'er I used to actively look for parks that had these types of amenities. I dont think it will cost you anything but may net you a little plus fill more spaces with people like me who look for this.
Plus, if they stay a month you should bill them for that electric. That is SOP. Maybe that is what you are doing and looking for an arbitrary number for that.
Post: Growing Wealth, but accumulating more debt?????
- construction
- Nacogdoches, TX
- Posts 2,091
- Votes 1,164
Originally posted by @Mina Skoutelakis:
In following this thread, I'm wondering if any experienced investors can speak to how to think about this when starting later in life - after age 50?
You may have to think bigger. I started REI (as far as renting anyway. I had property bought from county auctions years ago) in my 50's and the first property was multi family. It turned out nicely but I searched for a while to find it. I also had a partner. I made sure we made our money on the purchase by buying it low. Then we turned it around. My strengths are numbers and construction. Her strengths are just plain ingenuity and grit. I think she (my sister) would step on a wolverine to punch out a Grizzly if it had a dollar on it. It was a MHP and in 7 months she had all of them sold including the 2 she bought on FB marketplace and had moved there. It is now worth 5 times what we paid for it in less than a year. We have 80k cash in it and have a million dollar property now. You can do the same but you have to look very hard and learn your numbers well. I am looking for more because she is now bored with nothing to do. The folks at BP will help you. This place is crazy awesome.
Know your strength and get help with your weakness. Everyone has both of these. Find a partner if you think you need one. If you like solo then find some really good people to surround yourself with and let them do what they do best. The rest will come but you just have to work at it and dont be frightened by the debt as long as you have a great deal.
Post: HELP! I can't Find a Reputable Contractor to Rehab my House!
- construction
- Nacogdoches, TX
- Posts 2,091
- Votes 1,164
Originally posted by @David A.:
To the contractors on here, any gift suggestions that say "thank you times a million, you are 1 in 100 and my business is 110% dependent on you"? Cash bonuses aside, what is the one thing you wouldn't go out and just buy yourself.
The final draw.....
Just kidding of course. I think as long as it comes from the heart you cant go wrong. Years ago when I was a teen I was working for a surveyor. We traversed 2 tracts. One was a small 1/2 acre lot and the other was 700 acres. They were side by side and the 1/2 acre lot was a lady on a fixed income and she was about 90 yo. The 700 acre guy was saying her fence was on his property. (like 1/8 of an acre means a lot to a 700 acre tract) Turns out he was wrong.
In the end, the lady paid him, thanked us profusely and then gave us both 5 dollars each to buy lunch. The other guy never paid a dime. That was 40 years ago and I have never forgotten that 5 dollar bill. She would not take no for an answer when we tried to give it back either. In her mind we saved her from having to move her fence.
Post: HELP! I can't Find a Reputable Contractor to Rehab my House!
- construction
- Nacogdoches, TX
- Posts 2,091
- Votes 1,164
Originally posted by @James Wise:
Originally posted by @Jay Hinrichs:
Originally posted by @James Wise:
Originally posted by @Jay Hinrichs:
Originally posted by @Michael Ablan:
@Jay Hinrichs - Hahaha,...hunting season. We try to use November 1st as our deadline for projects in anticipation for this.
You're spot on though. It's a non negotiable for a lot of our guys. In their defense, it's usually the only vacation they take all year, but we have some who go ghost for 30-45 days (or more if they're hunting Southern Tier).
I've teased the idea of using a "all expense paid hunting trip" as a reward/bonus for exceptional service throughout the year (based on hitting KPI's for timeline, budget, and quality), but that opens up it's own can of worms.
Our best defense to date has been pushing hard in Sep/Oct to finish jobs or pass critical milestones. Then just use the Nov/Dec months to experiment w/ new subs on smaller projects
I am buying my Main GC in Oregon a trip to Northern Alberta to Moose hunt as a Christmas gift . I figure it might be the only way I get some moose steak. LOL I get you on the only vacation they may take.
But think about what Jim is trying to relay here.. You have investors in CA Primarily they dont hunt they may but most wont. And they are trying to do these deals from afar and I just dont think most have a clue as to how unstable this industry is especially at the low end of the spectrum which is rental rehab jobs its the very lowest only thing lower is handyman work.
I mean my dry waller has 600 employees and a Personal Jet.. !!! my underground guy is my aviation partner with 125 employees and he owns all the iron that he leases to the company for 150k a month etc etc.. So when I call our dry wall guy his crews come out our pricing is excellent for new builds etc and they bang out a house with NO delay other than the aforementioned hunting issues. Same with the HVAC the plumber the electrician .. these guys all are successful and I can tell U they would never do small rehab work.. But again we are blessed with a robust new build location. In many areas of the US new builds are not as prevalent and so its rehab work.
One of the things I've noticed is there are a lot of California investors out there that think everyone in the Midwest must live in these $50,000 C-D grade houses they invest in. I dunno, maybe it's because guys like Clayton Morris were on Youtube saying crap like Nurses will rent these houses or something that all these California dudes think we're just a bunch of Midwestern simpletons or somethin. Like we all wish we could live in California but we just ain't smart enough to pull it off...Lol na bruh, we have money in Ohio too. I've been working on getting my next personal house build underway this year - 7,000+ sq ft on 30 acres outside of town. I'm nobody's dancing monkey lol.
this reminds me of my 20 year high school ( Cupertino High) reunion in the mid 90s I was talking one of my old buddies who had moved out of state.. He is a Cardiologist/ Heart Surgeon he was showing me pic's of the mansion he bought in Ohio for 500k LOL.. when my 900 sq ft 3 and 1 in Palo Alto was worth 750k or so LOL. it was my first shocker in the absolute price disparity around the country.
good luck with your new build.. that sounds like quite the place.. I am still shocked when I see what price points the LuX market is at in the mid west .. And for sure can see the appeal economically speaking.
lol yea, unfortunately the days of $500k mansions are gone out here though. Right now you're looking at $700k-$800k for a 3,500 or so sq ft custom build on a postage stamp lot these days.........Still way more economical than what you see elsewhere, but Ohio is not as cheap as folks think. The damn driveway on my new house is running me close to $200,000.
But, but, I saw them Malibu flippers on TV build a driveway for a few thousand.
Man, even dirt has gone up as you and @Jay Hinrichs well know.
Post: Ideas Needed for Monetizing Off Grid Land
- construction
- Nacogdoches, TX
- Posts 2,091
- Votes 1,164
Originally posted by @Kevin Barske:
@Mike Reynolds I found a site called Hipcamp yesterday poking through some of the other forum posts. It sounds like what you're talking about. I am definitely going to look into this.
Originally I was thinking more along the lines of ideas for long term rentals but this is good.
Thanks!
Yes, that is it. From what I have read on here that can work wonders for you. Maybe add a disclaimer for the zipline though lol.
Post: HELP! I can't Find a Reputable Contractor to Rehab my House!
- construction
- Nacogdoches, TX
- Posts 2,091
- Votes 1,164
Originally posted by @Jay Hinrichs:
Originally posted by @Michael Ablan:
@Jay Hinrichs - Hahaha,...hunting season. We try to use November 1st as our deadline for projects in anticipation for this.
You're spot on though. It's a non negotiable for a lot of our guys. In their defense, it's usually the only vacation they take all year, but we have some who go ghost for 30-45 days (or more if they're hunting Southern Tier).
I've teased the idea of using a "all expense paid hunting trip" as a reward/bonus for exceptional service throughout the year (based on hitting KPI's for timeline, budget, and quality), but that opens up it's own can of worms.
Our best defense to date has been pushing hard in Sep/Oct to finish jobs or pass critical milestones. Then just use the Nov/Dec months to experiment w/ new subs on smaller projects
I am buying my Main GC in Oregon a trip to Northern Alberta to Moose hunt as a Christmas gift . I figure it might be the only way I get some moose steak. LOL I get you on the only vacation they may take.
But think about what Jim is trying to relay here.. You have investors in CA Primarily they dont hunt they may but most wont. And they are trying to do these deals from afar and I just dont think most have a clue as to how unstable this industry is especially at the low end of the spectrum which is rental rehab jobs its the very lowest only thing lower is handyman work.
I mean my dry waller has 600 employees and a Personal Jet.. !!! my underground guy is my aviation partner with 125 employees and he owns all the iron that he leases to the company for 150k a month etc etc.. So when I call our dry wall guy his crews come out our pricing is excellent for new builds etc and they bang out a house with NO delay other than the aforementioned hunting issues. Same with the HVAC the plumber the electrician .. these guys all are successful and I can tell U they would never do small rehab work.. But again we are blessed with a robust new build location. In many areas of the US new builds are not as prevalent and so its rehab work.
Your Drywaller doesnt happen to be TWD does it? He has a jet and sponsors a Nascar too. Great company if so.