All Forum Posts by: Ronald Starusnak

Jay is spot on, for me to come in and drywall one room and be worth my time you're looking at $3,000-$4,000 (which is ridiculous). Contractors are busy and they will charge accordingly, it really shouldn't matter how much they're making on profit either. You either like the whole price or you don't. Don't pick the contractor bid apart trying to get a better deal, you're just going to train your contractor to be less transparent. I don't even break my bids down for the open market people because they try to cut out sections of the job to save money when I specifically bid the pricing for each line item in consideration of acquiring the whole project. It becomes frustrating, just had that happen with a guy I met on BP. 

I gave him an estimate for certain things, for example we put $5,000 kitchen and he went and spent $4,500 on kitchen materials (not exact numbers) and our profit was gone, the whole job was picked apart like that and we lost money trying to keep the friendship and working relationship going and the job didn't turn out like it should have. Long winded but the point is, don't look at the break down unless the contractor is specifically offering it for you to pick apart. You like the number or you don't. If the numbers work they work, if they don't they don't. 

Commonly referred to as a sub2 or subject to mortgage. 

Extend the vent into the soffit. You will create mold and a high humidity environment throughout the home if not. 

The wholesalers are filling a niche in many cases that aren't worth the time of a licensed broker, that certainly doesn't make it legal if it's not. 

What happened at Carrier Circle? 

Frank tells it like a pro. A procopio pro

I had this problem with the HUD listing agent in my area of NY. I threatened to contact the Department of State and he immediately got my earnest money back. In my case the bank declined our offer on the short sale and the seller tried to keep my $1,000 deposit.

Most we're walking away with big margins but anything under $8k is break even since those Margin numbers on my spreadsheet don't include other costs like taxes at closing, closings costs, HML Fees, etc.

Our niche are cheap run down houses. We're talking $20-$50k on the purchase and $10-$25k on the rehab. We're shooting for 70% LTV refi's which we're getting most of the time but this double wide trailer I'm looking at is a sketchy one. It is the only double wide in the area but it sits next to $300k houses.

To be associated with Biggerpockets would be fantastic, who wouldn't want to do it for free? The opportunity to be a contributor to BP is worth it.