I have a group of guys (all ex marines, brothers, cousins) who
work hard and are exactly cheap, 1/4 or less of what it could cost
using standard contractors, and these guys do anything. They've
rehabbed probably 200 plus houses over the years
anyway what I've used these guys for is to find a house that is
horrid - the foundation still okay but other than that most people
would think it should be bulldozed down LOL - basically a place
that most people will not attempt - these guys clean it out, fix it
up, then I sell it and done.
When the housing market was stupid, and still is a bit, you
can't easily find a place for reasonable price that only needs some
paint etc, because they quickly get snapped up before I can act
them or find them - I find some of the turds - it ends up being a
win win for everyone if it works out - these guys get money in
their pocket, the neighborhood is improved and the neighbors are
happy because there was this vacant house that was all grown over
with weeds and an eye sour driving down prices in there area and
was not of use to anyone - now the place is made livable and
useable for someone to live, neighbors are happy, my crew makes
money, hopefully I make money - again basically a win win for
everyone, almost like doing a public service
but yeah dealing with renters sucks- I had a rental a few
years back, what seemed like a nice professional young couple moved
in, both were physical therapists working at hospital and
were very clean cut with good credit- they ended up buying a dog,
the lease was for 25 lbs and less, they got a lab puppy, of course
that's a big dog, they would leave it outside, this was a condo
building with a fence (3 other owners) the dog tore up the grass,
shit logs everywhere, which they left), which made the other owners
pissed at me, and I was battling this guy about it, I ended up
having to pay to re-sod the grass etc - renters can
suck
ha ha and these days I keep reading about squatters and
squatters rights, which just the most asinine thing, they move in
secretly, create a fake lease, then police say they can't do
anything.
These ex marines don't just roll over for that LOL, they had
that happen one time, they went to the house about 3 am, stayed in
the truck on the street, waited for the guy to leave, then went and
broke in the door, threw all that dude's stuff out in the yard,
they waited for the guy to come back LOL. And these marines are big
guys, and all have conceal and carry. these guys are not
going to go through civil courts to deal with that.
crap like that with squatters, kind of makes you wish you had a
Tony Soprano mob guy as a friend, pay him to to have his goons go
there and deal with it as well LOL
Posted by DigiNomad on 12th of Apr 2024 at 02:34 pm
Rehab and flipping is a different game. Especially if you're in
a place like the mid west and have a vertically integrated pipeline
like that (even better if you have an RE Broker and a lender in
your group). My family and most of my clients are in SoCal
and now Texas (chased out by pandemic). Trying to find a property
where the numbers pencil in SoCal is tough...unless you're
vertically integrated like that.
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yeah agree on rentals and
Drew it when cup formed, see X.... $26 area back ...
Posted by matt on 12th of Apr 2024 at 02:30 pm
yeah agree on rentals and the hassell.
I have a group of guys (all ex marines, brothers, cousins) who work hard and are exactly cheap, 1/4 or less of what it could cost using standard contractors, and these guys do anything. They've rehabbed probably 200 plus houses over the years
anyway what I've used these guys for is to find a house that is horrid - the foundation still okay but other than that most people would think it should be bulldozed down LOL - basically a place that most people will not attempt - these guys clean it out, fix it up, then I sell it and done.
When the housing market was stupid, and still is a bit, you can't easily find a place for reasonable price that only needs some paint etc, because they quickly get snapped up before I can act them or find them - I find some of the turds - it ends up being a win win for everyone if it works out - these guys get money in their pocket, the neighborhood is improved and the neighbors are happy because there was this vacant house that was all grown over with weeds and an eye sour driving down prices in there area and was not of use to anyone - now the place is made livable and useable for someone to live, neighbors are happy, my crew makes money, hopefully I make money - again basically a win win for everyone, almost like doing a public service
but yeah dealing with renters sucks- I had a rental a few years back, what seemed like a nice professional young couple moved in, both were physical therapists working at hospital and were very clean cut with good credit- they ended up buying a dog, the lease was for 25 lbs and less, they got a lab puppy, of course that's a big dog, they would leave it outside, this was a condo building with a fence (3 other owners) the dog tore up the grass, shit logs everywhere, which they left), which made the other owners pissed at me, and I was battling this guy about it, I ended up having to pay to re-sod the grass etc - renters can suck
ha ha and these days
Posted by matt on 12th of Apr 2024 at 02:47 pm
ha ha and these days I keep reading about squatters and squatters rights, which just the most asinine thing, they move in secretly, create a fake lease, then police say they can't do anything.
These ex marines don't just roll over for that LOL, they had that happen one time, they went to the house about 3 am, stayed in the truck on the street, waited for the guy to leave, then went and broke in the door, threw all that dude's stuff out in the yard, they waited for the guy to come back LOL. And these marines are big guys, and all have conceal and carry. these guys are not going to go through civil courts to deal with that.
crap like that with squatters, kind of makes you wish you had a Tony Soprano mob guy as a friend, pay him to to have his goons go there and deal with it as well LOL
Rehab and flipping is a
Posted by DigiNomad on 12th of Apr 2024 at 02:34 pm
Rehab and flipping is a different game. Especially if you're in a place like the mid west and have a vertically integrated pipeline like that (even better if you have an RE Broker and a lender in your group). My family and most of my clients are in SoCal and now Texas (chased out by pandemic). Trying to find a property where the numbers pencil in SoCal is tough...unless you're vertically integrated like that.