All Forum Posts by: Terrell Garren

@Nicholas L. I don't pay contractors a deposit, except counter tops.  I do buy most all materials except countertops, trade rough-ins, HVAC, guttering, maybe a couple other things I am forgetting.  I do immediately make payment on work completed. Never had a contractor ask me for a labor deposit and I don't plan to ever pay one. 

Why continue the stress and frustration.  Forget about it and move on. I would ask the tenants to transfer the utilities into their names.  If they choose not to, give a lease termination notice and proceed accordingly. 

Quote from @Kathy Cooper:

Quote from @Terrell Garren:

Why do I get 30+ text messages, phone calls, and snail mails a week from random wholesalers wanting to buy my property for pennies on the dollar? 

 lol. yes, very annoying. I now also get inquiries about managing my rentals...I'm listed as a property management company!!!!  They don't even look at the info. There really should be a Wholesale do not call list.

Agree.  The worst is when the pay someone is the Philippines to call and bug me because Mr Wholesaler's time is too valuable to make the call.  At least the dude in Nigeria makes a personal investment in convincing me to help move his diamonds to the US. 

Why do I get 30+ text messages, phone calls, and snail mails a week from random wholesalers wanting to buy my property for pennies on the dollar? 

The only contractor I pay in advance is for countertops (50% up front for material).  From survey to finish carpentry, all others get paid as the work gets done. 

With SFHs, I generally use the tax records for splitting land value from house value. If the tax value is low, I use just interpolate. 

For the MLS, I use the listing agent. I determine the offer, no inspections, no contingencies, 10 days to close, offer good for 24 hours. I've purchased maybe 15 or so SFHs not on the MLS without a realtor. Never a problem but I do have a very good local closing attorney.

Unless there are structural repairs, you don't need a GC.  Save some $ and find a skilled home repair guy.  A good one can handle joist repairs as well.  If you find a good one, pay them well and immediately.  It can save you significant time and money long term. 

Sure dude. So I can pay someone $3K a month for maybe 10 hours work, overcharge me for maintenance, and pick poor tenants.  

I bought 500 business cards and a registered a web domain when I started 15 years ago.  I have maybe 494 business cards and no web site today.