All Forum Posts by: Roselin G.

he has come by the house a few times and had subcontractors come in as well, so I’m fairly confident he has some estimates. 

But he is not sharing and states “i have the estimates ready once the 1k has been deposited.” We signed a contract noting we’ll deposit once breakdown is in and we decide what work we’ll do for sure based on the breakdown.
🤦🏻‍♀️

Thank you! 

hello!

I’m working or attempting to work with a contractor who wants $1000 deposit before he’ll give me a breakdown of the renovation. I gave him a list of updates and he quoted me 60-75k. I asked for a breakdown so I can decide what stays or goes and he says he isnt able to comply bc our contract says services cant be rendered until I deposit 1000k and providing a quote of the work is part of his service.  I spoke with him multiple times that signing the contract to work with him is contingent upon providing a breakdown of cost for work. I havent paid the 1k. He also brought a dumpster to the house..not sure why??? He is a well known builder around the area and has built other homes we know of. 

seems very off to me but I am also new to this..help would be so appreciated. 

@Michael Pearse Thanks! Yes I have a few local banks who are working with me and think they can get that done. Thanks for reviewing...as its a property from the 70s, capex makes me a little nervous but will see..thanks!

@John Leavelle Good point! Thank you, its an older property from 1975. I used the BP rental tool...Which says the tax is included but I dont see it on here either. I’ll have to look more into it. The $450 is for landscaping etc.

@Steve Uhlig: Its been a while since you posted the question, but I was looking for more info on this myself and saw your post.  Here's an article by Brandon that I found helpful: 

https://www.biggerpockets.com/renewsblog/2015/10/1...

Hey BP!

Check out this deal I've been looking at. Short term, it looks like a good deal but long term, not so much. 

What are your thoughts on this? As I'm fairly new to this, please let me know if you see something I've totally missed. Thanks!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Thats helpful! There are some cracks that look fine but a couple are a bit larger than nickel size which concerns me. We have another walk thru coming up and hoping the builder can chime in at that point. Thank you for the info!

@greg: congrats to you for making a move, which is a lot more than what most people do! If it turns to crap, at least you will have learned some valuable lessons. I’m in a similar situation but I’m looking at lower price ranges, and I am terrified but I’ve doing all the due diligence I possibly can. Good luck to you!

Thank you for that info! It’s definitely good to have perspective from someone who’s been around this type of thing. Thanks again!