All Forum Posts by: Account Closed

My biggest problem is that I know how to do just about anything involving a house and do a pretty good job at most of it. I know how long it takes to do a job and what is involved in doing it. Over the years I have learned to hire more and more things out because I either don't want to wear my body out doing it or I just don't want to do it. There are too many contractors out there that are trying to get rich off of one job. When a guy pulls up in a new 60k diesel and starts yapping about insurance and overhead and licensing and certifications I know I am about to get it laid to me. If I can fix a plumbing issue for $20 dollars and a half a day of time, I won't pay a plumber $300+ to do it. I don't do things like drywall first because I am not good at it and second I hate it. With all of that said, you have to remember that time is money. Do the jobs you can save the most money on and hire out the basic labor jobs to start with. 

Are you basing your ARV on Zillow?

Do you have the money to personally close the deals that you find?

This really doesn't pertain to the writing of your note but to the need for this cash cushion. How will he be able to pay this note back in 18 months? Is he expecting a windfall? If he is doing this from savings each month that is almost $1500 a month. Wouldn't a high limit credit card with zero interest intro rate stuck in the sock drawer be a much more affordable "cushion"? His need to take out a second solely for a cushion bewilders me.

Are you referring to how much cash you need to bring to closing when you say "settlement"?

I would concentrate on poker.

David, I started building homes when I was 23 years old. I started out working with an old guy that was from the old school of a small crew building an entire house. We literally did all the work on the house. He taught me so many things about construction and I taught myself many things. I have installed every piece of moulding known to man. Thousands and thousands of feet of it. I had a friend that owned a cabinet shop and I would often install cabinets for his customers. Many of these cabinets were very expensive cabinets that were installed in very expensive homes. Considering that I have installed well over a hundred sets of kitchen cabinets in my new and existing homes as well as in customer's homes, I feel pretty confident in my statement. Cutting crown molding is a beginner step for a trim carpenter and also possessed by many advanced do it yourselfers. In my humble opinion, installing crown moulding is a far easier task than PROPERLY installing a set of kitchen cabinets. I have seen more people stumped as to how to cut a set of stair stringers than how to cut crown.

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There is a lot more skill involved in "putting boxes on the wall" than you might think. Unless you don't care what the job looks like.

Don't forget that if you use a realtor when you resell that will cost you 18k.