All Forum Posts by: Mike Reynolds

 I am thinking about it but my next commercial investment is looking like a self storage unit. 

It will still be a good thing to take though. 

Does he discuss RV parks too?

 We'll try and get together when your back in town. 

I used to be a roofer and I also installed blue Tarp for FEMA.

Need pics in a bad way. 

I think what you are describing is where it was added on to wrong. Often people who don't understand building will just build an add-on and make it flat. Or at least very low pitch. They get the money and you never see them again. If this is the case no matter what you do it will always leak. 

i have come across clients that I would not do the roof unless they let me rebuild it properly. My remodel company was full service. 

If you're tight on money, use tar but understand that you need a new roof soon. Start putting that money away. Option 2 is to sell it. There was a house in NC that 5 years ago went on the market for 10k. It needed to be torn down so no one bought it. It sold Saturday for 50k to someone. 

Long story short, if it's a money pit that you can't afford maybe it's time to see what it will bring on the open market. 

 If you live in Nac I can help you find some good contractors that won't break the bank but will do good work. 

Wow, that's good info. Did not know that. 

 I have been a contractor in Texas for decades. Now I work for one as I am not for hire anymore. 

First, the money isn't due for 30 days for the contractor to the rental company. If he doesn't have enough credit to carry that then you don't want him.

Second, tell him you have no problem paying for the materials once they deliver them to the job. You can cut a check before they drop them from the truck. But put your eyes on then before you cut that check. 

Third, tell him that you understand that he is skeptical because he may have been burned before by clients/ owners but you are willing to meet him halfway to gain trust. Tell him to order the materials and if you don't cut a check they don't drop them. No one is out any money. You as an owner have been burned too. And you need to gain his trust. 

let me know if you need to find a better rental company. The are several that may not be on your area that will deliver to your job that not require all that red tape. 

 I don't know that I am that good of a mentor. I say this with all due respect. What works for me may or may not work for you. 

Everyone has a different path to take. What I am comfortable with you may not be. So, if I tell you to do "this" and you trust me, and it's not something you even care to do (or are comfortable with at all) and it fails you will not be happy at all. 

I have invested in raw land, tax deeds, a few notes and mobile home parks. I am thinking about expanding into self storage and maybe NNN. I probably hit just about everyone's alert button with this paragraph because I am very flexible in this market.

I am willing to give you advice on what I do know. But remember, advice is worth what you pay for it. In this business it's often worth a whole lot less because of the (sometimes) crooked gurus. 

Use this forum to let everyone mentor you as it has me. I would have never bought the first property without the many, many great people on here. There is so much excellent advice here for free. 

what kind of investing are you thinking about to get started?

 On the Guadalupe River right now. But I'll be back on Monday. 

Thanks Paul. Won't make the July one because that is my anniversary and I am on the Guadalupe River on vacation. The one on August is maybe doable though as I may be installing new water lines in my park that week. 

 All the wiring before the drywall is installed is the rough electric. That means wires in the box but no receptacles installed. 

Maybe I could start saying that rough house was just dirt work and maybe batter boards. Do you think they would buy it?