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All Forum Posts by: Rich Ramjatan

Rich Ramjatan has started 4 posts and replied 87 times.

Post: Hiring General Contractor for rehab progress

Rich RamjatanPosted
  • Contractor
  • NYC
  • Posts 87
  • Votes 64

@Jay Yoo

GC’s are hired by the owner and they hire sub contractors to competed different trades . Electrical, plumbing , hvac, etc .

As a GC myself , there’s a huge benefit to hire a GC over a subcontractor directly .

Post: Best route for LLC creation

Rich RamjatanPosted
  • Contractor
  • NYC
  • Posts 87
  • Votes 64

@Michael Ablan

They definitely seem knowledgeable, I watched a couple of their YouTube videos . I also considered reaching out to them . Maybe later not now .

Post: Multi family property loan declined

Rich RamjatanPosted
  • Contractor
  • NYC
  • Posts 87
  • Votes 64

@Francisco Garcia

Try your local credit union closest to the property .

@Emily Kaye

Because it’s realistically not a sustainable model . At some point it will catch up to you . Laws change , etc ...

We like to promote ethical and legal practices on here .

Post: Roofing company hourly rate

Rich RamjatanPosted
  • Contractor
  • NYC
  • Posts 87
  • Votes 64

@James Z.

Roofers Usually charger per the Square .

Cheaper for walkable roofs

More for difficult roofs

Repair work would be more .

Post: Can you do subject to with high equity homes?

Rich RamjatanPosted
  • Contractor
  • NYC
  • Posts 87
  • Votes 64

@Rico Bandz

I also wondered about this also on high equity homes . you pay the equity difference to the seller , does it even still makes sense to do a subject to if your plan is to refinance into a permanent loan down the line ?

Plan is to buy and hold as Rental

Exit would be to refinance within 24 months

Exit strategy would be to sell if all else fails .

Post: Is there a seasoning period after paying cash?

Rich RamjatanPosted
  • Contractor
  • NYC
  • Posts 87
  • Votes 64

@Ryan Cleary

I believe it’s 6-12 months , unless you do delayed financing.

Originally posted by @Tyrone Jones:

@Rich Ramjatan

Preciate the feedback. Any books or sources that you would recommend me to look into?

 https://store.biggerpockets.co...

Biggerpockets Podcast - 

Bigger Pockets Money

Bigger Pockets Rookie

Post: Tenant wants to add insulation

Rich RamjatanPosted
  • Contractor
  • NYC
  • Posts 87
  • Votes 64

@Aric Adams

Rule number 1, never let your techs, contractors, and vendors make recommendations or suggestions to the tenant directly .

They should always say if asked “‘I’m here to report the findings to the landlord / management.

2) Be fair , if you can’t live in there comfortably with the current heat situation, then don’t expect someone else to . With that being said , I’ve dealt with a lot of heat complainers who complain for heat , yet they have windows open .

Post: Residential vs Commercial Loan

Rich RamjatanPosted
  • Contractor
  • NYC
  • Posts 87
  • Votes 64

@Dakota Brown

In most cases , you can get better terms on a 4 unit than a 5 unit . If I had the choice between 4 and 5 , and the deal numbers are similar, I would choose 4 .

Now if you are comparing 4 to maybe a 10+ unit , the. I say for the bigger .