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All Forum Posts by: Steven Del Prete

Steven Del Prete has started 2 posts and replied 85 times.

Post: Question about Turn-key Flip contracts

Steven Del PretePosted
  • Contractor
  • Brick, NJ
  • Posts 86
  • Votes 12

@John Mireles if that's just labor it's easy on what you should do as long as you pay him to a company name and make sure he has a license and insurance. You don't want him falling from your roof if he doesn't or worse is illegal.

If your buying him lunch and he never has money he must be sending all the cash home and not paying any taxes and such and hurting the economy.

Post: Question about Turn-key Flip contracts

Steven Del PretePosted
  • Contractor
  • Brick, NJ
  • Posts 86
  • Votes 12

I don't think $30 is much motivation. Two week late and its a tiny $420 mean while you could have sold the property and not have those extra weeks of holding cost. Also what if the contractor finished early? Any bonus?

As far as those percentages go, they seem fare. Anyone who pays full prior to completion is just asking for trouble in terms of time frame and more.

Post: Which paint should I use for my flip?

Steven Del PretePosted
  • Contractor
  • Brick, NJ
  • Posts 86
  • Votes 12

@Brandon Turner so you do while in all rooms of the home? Is this so the new home owner can paint the home as they wish when done? Do you think anyone choose not to buy your home because that saw a similar home and price with neutral colors through out they liked?

On the new homes I've built for an investor we do everything in white and all trim and a semi gloss white if the house is being painted before its sold. If someone buys it before it gets to paint then they can choose the colors in the rooms.

Post: Question about Turn-key Flip contracts

Steven Del PretePosted
  • Contractor
  • Brick, NJ
  • Posts 86
  • Votes 12
Originally posted by Alex R.:

That's a good way to put it

Post: Question about Turn-key Flip contracts

Steven Del PretePosted
  • Contractor
  • Brick, NJ
  • Posts 86
  • Votes 12

J Scott is right about talking to people who already use them. They may or may not want to tell you but it's simple to ask. As far as fancy sites making them charge more? That makes no sense. You are on the right path of calling around and meeting them in person. Ask for references and talk to them. Do your research and find the company you want. You might have to go through a few on some projects until you find the right one as you will with realtors and so on.

Post: IPad 4

Steven Del PretePosted
  • Contractor
  • Brick, NJ
  • Posts 86
  • Votes 12
Originally posted by J Scott:
Get a Zagg wireless keyboard attachment...it will make you much more productive...you can type on a regular sized keyboard, which is much faster than the on-screen keyboard (in my opinion)...

I received a hard case with keyboard from sharper image that turns the ipad more into a mini laptop. However it came scratched up so waiting on replacement. It holds an extra charge so I can use my ipad longer or charge my phone off of it. I figured it will protect my ipad plus better typing. I also got ghost armor on it for extra protection when I take it out of the case.

Hope it comes soon!!!

Post: IPad 4

Steven Del PretePosted
  • Contractor
  • Brick, NJ
  • Posts 86
  • Votes 12
Originally posted by J Scott:
My wife, my project manager and I all have one, and it makes us all tremendously more productive (except me, perhaps, as all my BP posts are done on my iPad :)...

Same here. It's hard not to browse the forums and step away from daily task at times haha. But out in the field my iPhone and ipad add profit to my bottom line with the time savings.

Post: Question about Turn-key Flip contracts

Steven Del PretePosted
  • Contractor
  • Brick, NJ
  • Posts 86
  • Votes 12

I see where your at J Scott and the way you do it is smart. I was saying if the guy is coming to your house and only doing 1 door he will make no money. However if there are other jobs he can do he can make money for the day.

The guy sending out an employee to just do a door wouldn't make money at $50 and doesn't make much at $100-$200. But it's all you can charge for the task given the time do do it.

Now for a big job he shouldn't be pricing items at his top price as he would if he only came out for one task. If he is then move on to the next one.

Post: Which paint should I use for my flip?

Steven Del PretePosted
  • Contractor
  • Brick, NJ
  • Posts 86
  • Votes 12
Originally posted by Randy F.:
Everyone is a painter but not everyone can paint.

Exactly. Everyone should write that down and remember it.

Post: Question about Turn-key Flip contracts

Steven Del PretePosted
  • Contractor
  • Brick, NJ
  • Posts 86
  • Votes 12
Originally posted by J Scott:
Originally posted by Steven Del Prete:

When someone agrees to a job and signs a contract with an agreed on end date how is it naive to think they would do it? I understand things happen and unexpected things can change it but you can't say they won't meet it unless its a crazy timeline anyway.

Read my long post above...

The trade-off is often cost. There are plenty of GCs that will do everything they promise, on-schedule, on-budget, without oversight and at a high quality. But, any investor who is paying the price of those kinds of GCs probably isn't making any money on their deals, as they're paying so much for labor.

And the ones that can get the job done for a price that will allow the investor to make a decent profit -- they are relying on volume to keep afloat, which means they are overbooking themselves and not spending the same amount of time at the project as the retail GC who is charging more.

Think about it -- why would a GC who could charge high prices to a retail homeowners choose to do the same number of jobs for investors at a lower price?

Saw you post after I posted mine. I can't type fast on the ipad haha. What he needs to find is a happy medium. Don't go hiring the hack that cost you more in the end and don't go getting the top guy in the area. A GC that has great subs doesn't need to be there all the time anyway. He doesn't need to watch the plumber or electrician. He can trust the guy that hangs his rock and shackles it all. He just needs to come around a couple times a day and be able to be reached if a problem arises.

Again I think a GC that also does a trade is best. You don't need an over priced PM