All Forum Posts by: Sri Gunk

Potentially, there is a point to be made that contractors may not be as busy. I believe contractors will be busier than ever, this is a great market for investors in it for the long haul

A reasonable point; with a possible glitch for the inexperienced.

All costs, daily expenses to live etc. have increased across the board.
Craftsmen have received compensating raises that will be maintained.

Supply shortages will continue for awhile which can increase holding costs.
Those holding costs will not successfully be mitigated by cheaply done repair/improvement.

For the Long Haul, R.E. has a history of being a good investment when a reasonable financial plan is in place.

Part of that reasonable plan should include readiness to hold the property for an extended time.

Have a Plan B available to cover market changes.

0 Votes

Quote from @Adah N.:

Now that interest rates have spiked, home prices are dropping, uncertainty abounds and I am assuming flip profits are decreasing, does it mean lower rehab costs? Does "houses are no longer flying off shelves like hotcakes" mean lower demand for contractor services? Does this mean lower rehab costs? Thoughts?

Seems unlikely. Demand is still strong for for the shortage of craftsmen; particularly quality craftsmen. Still an unstable supply chain and material shortages. Lumber mills curtailing production to preserve value.

Rehabbers need to attract higher dollar clientele.

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Quote from @Derek Fazio:

Can anyone give a list of general contractors in the Columbus area they know of or have had experience with?

Going to be making some offers in the near future and want to have some contacts lined up.

It would be greatly appreciated!

While you may be told to call after you close a transaction, it is good to get your ducks in a row by familiarizing the Contractor's main area of services and the possible lead times for those services. It could influence your purchase choices.

0 Votes

Columbus, Ohio

Quote from @Pierre E.:

Hey BP Fam! I need to replace galvanized pipe (within house, in crawlspace, and to the street). Single story 2 bath house with crawlspace kitchen and laundry room all on one side of the house

1) - Need to decide between what material is best Copper, CPVC, PEX. (Prefer copper, concerned about evidence of rodents in crawlspace and potential for chewing hole causing leak for PEX, but PEX might even be main/only option based on what available plumbers will do, copper might be too difficult/dangerous under crawlspace? and cost? and CPVC might not be allowed in some places I heard?) Thoughts on type for repiping?

2) If PEX, thoughts on protecting it from rodent damage? Is it possible/allowable/cost effective to maybe have a "crawlspace bulkhead" to run them through or any other ideas or option some sort of tubing or conduit? Maybe the metal ducts stuff (the solid straight kind used for dryers with some flexible stuff for bends)? (totally unsure of cost)

3) Also if PEX, would that be appropriate to tie to street? Would that need to be copper to the main, or to the PEX Manifold and then start the runs of pex in the house?

First.. verify the use of IRC and UMC codes and local adenda to those codes.

What does the Water supplier require to attach to their system.

If water or soil ph does not affect copper it is the best and obviously most tested for durability and longevity in the interior or exterior. PVC is Good for outside underground if allowed by water supplier.

Oh... Some plumbers a becoming a bit lazy these days... and PEX is not foolproof.

1 Vote

Experience says you are correct.

RE flipping is akin to adding a second full time job, 2 more spouses, and 6 children The moment you begin.

It certainly isn't peaches, cream, and Glamor in Waco

The learning curve can be long and expensive.

1 Vote

Tampa, Florida

Water potability is equally important...

Ex. Az. testing is for arsenic content.

0 Votes

Use a Title Company ...

Before signing::

Have your personal Real Estate familiar attorney read the purchase agreement and loan documents agreement to protect yourself.

There is NO "boilerplate" agreement that cannot be altered; carefully read and understand application of every word

In R.E. transactions of this nature ALL things are negotiable. Insist the seller furnish you with a Title Insurance policy.

0 Votes

Indianapolis, Indiana

All Forum Posts by: Sri Gunk

Sri Gunk has started 0 posts and replied 7 times.

Post: Should We Expect Lower Rehab Costs?

Post: Should We Expect Lower Rehab Costs?

Post: Looking for Contractors

Post: PEX Protection Ideas - Rodents in crawlspace with galvanized pipe

Post: Why Most People Think It’s Easy to Find Profitable Flips!

Post: Well and Septic Inspections

Post: Closing a loan on seller financing