All Forum Posts by: Roman Pak

@Jerron Horn I don't usually do this, but I have to chime in and disagree with @Ned Carey . I understand the point Ned makes about only doing/paying for things that move your business forward, but I also feel that today a website is just as much a part of your company image as you are. When people first hear of a company from a friend or relative chances are the first thing they do, is look it up online and browse the site. I'm sure there are people that would agree with me when I say that I feel uneasy using a company that doesn't even have a website. 

In your case, I definitely agree that a lead generation site is worthwhile doing, but if you have a larger corporate structure with an entity that is your "real estate business" I would have a website for that as well. It gives people a point of reference and makes you seem more established in the industry. 

UPDATE:

Things are starting to come together. The plumbing is done, although it delayed us by more than a week. The tiles are going in now, the drywall is up everywhere and the taping & mud is going up today. Things are moving closer to the finish line but have been behind schedule since the first week. That may not be such a bad thing as the weather in Chicago has been very windy and cold for the last several weeks with frequent dustings of snow. I'm thinking that even if the house was done already it would sit a bit longer on the market with this kind of weather. 

Found out that they can't do the concrete work until the temps rise to at least 40 degrees, which means I will need to do one of two things either issue a credit at closing or take care of it for the new owners when the weather is warmer.

A few pictures:

Welcome @Thomas Neely 

I would definitely go through insurance and get them to send out an adjuster right away, before anything else happens due to the wet and cold combination. I wouldn't touch a thing until they have walked through the house. Hopefully you have all your receipts and things from the construction so that you can show how much was actually spent. I would also get a letter from the construction company you guys used, indicating the extent of the work that was done up to the point of the incident that will help in the adjusters appraisal. If you have samples of the material used, that will help as well.   

My pleasure

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Awesome job. Way to go. 

IMO, I wouldn't take the deal, even with your counter offer. Your monthly cashflow of $470 is a tiny percentage of the $5290 rental income. That comes out to be less than $70 per door. That to me is terrible CF. The financing is what's killing the deal. You've got a loan to the guy for 30 years, it's practically guaranteed that we'll have another crash within 30 years, what then? You aren't making enough CF to recoup your investment fast enough. 

Welcome to BP!

IMO, I think hardwood is the best way to go when you have pets in the house. The cheaper softer vinyl will get destroyed much faster, and as others have mentioned a clear coat of poly will be cheaper than a full resurface and finish.