3,953
 

DJ Envy just bought this 3 bedroom for $17k houses in the area are selling for $280k


 


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 5 days ago '17        #51
Jdog168 4 heat pts
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 thegod said
You work in DC? What type of contractor are you, a GC? Just curious, because I invest/flip in Bmore.

I feel you. Alot of flippers are cheap, which is why I would never buy a flip for a personal residence. Dont care if permits were pulled, as Ive seen how sh*tty the inspectors are and how little most actually do on the inspections.

Alot of contractors are sh*t too, cheap or expensive. Cheap ones usually give crappy a*s work, or cant manage their money whether due to underbidding or just being fu*king stupid, and then ask for more money or just vanish. You try and step it up in how much you spend, and sometimes you get a nice professional presentation, but the same level of work, but you paid more for dealing with a dude who took the time time to start a LLC, get a license, and therefore can put on a nice front like they are professional and worth charging sometimes double or triple your other bids, while sometimes sending the same type of dudes you see hanging out at home depot. Or they are doing the work themselves and you can see they dont know wtf they are doing, and jthey just studied and passed the contractors license test, which is more about business than skill, so it doesnt mean much in terms of knowing if a dude is competent.
A good HONEST contractor is probably the hardest thing to find in the real estate business
+4   

 5 days ago '04        #52
bigjoshi2002 41 heat pts41
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Gentrification?

 5 days ago '04        #53
thegod 
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 Jdog168 said
A good HONEST contractor is probably the hardest thing to find in the real estate business
Facts.

You can spend all your time on these seminars, learning about wholesaling, credit, etc...but if you neglect to do your due diligence on finding good contractors early (not just one, b/c they come and go and you dont want to have your business dependent on one person. If they know they can make or break you, they will take advantage), you will be in for a rough and time once you find and acquire your first property.

Ask all these coaches, ig dudes, mentors, for their contractor info and see what happens lmao. If you get anything, it'll be their C level dude they never use, or the company who does good work but is too expensive that they dont use them either.
+3   

 5 days ago '10        #54
Akira Son Bio 230 heat pts230
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 mikejuheard said
Real estate
really state

 5 days ago '04        #55
Javon23 331 heat pts331
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Easy hustle when you have the equity and connects
+2   

 5 days ago '17        #56
Jdog168 4 heat pts
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 thegod said
Facts.

You can spend all your time on these seminars, learning about wholesaling, credit, etc...but if you neglect to do your due diligence on finding good contractors early (not just one, b/c they come and go and you dont want to have your business dependent on one person. If they know they can make or break you, they will take advantage), you will be in for a rough and time once you find and acquire your first property.

Ask all these coaches, ig dudes, mentors, for their contractor info and see what happens lmao. If you get anything, it'll be their C level dude they never use, or the company who does good work but is too expensive that they dont use them either.
I had to learn that the hard wayo it doesn't matter how good the deal is. If you don't have competent contractor your done before you get started.
+4   

 5 days ago '04        #57
Adwerdz 414 heat pts414
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Relax op this is Nothing new, welcome to real estate

 5 days ago '04        #58
thegod 
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 Jdog168 said
I had to learn that the hard wayo it doesn't matter how good the deal is. If you don't have competent contractor your done before you get started.
Lmao. I've been there. sh*t, I'm on flip 2 and it's going better but I ran into issues with contractors again, which is making the rehab take wayyy too long and costing me money in holding cost.

This project was way more ambitious than the first one, so the fact that it's going better is good. Good way to learn too. All the fu*k ups and money lost I chalk up to an invaluable education.
+4   

 5 days ago '07        #59
JamcnPrettyboy 103 heat pts103
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 isthistobe said
$17k house wtf where
envy said he flips houses in the run down areas of detroit that are slowly becoming gentrified. Also in Atlantic City (the areas that got destroyed by hurricane sandy). He said some of the houses even going for $5k
+1   

 5 days ago '04        #60
Burym3ag 3 heat pts
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 JamcnPrettyboy said
envy said he flips houses in the run down areas of detroit that are slowly becoming gentrified. Also in Atlantic City (the areas that got destroyed by hurricane sandy). He said some of the houses even going for $5k
That is insane.. houses for 5k!

Top 10 most slapped recently  5 days ago '04        #61
dc3003 120 heat pts120
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 thegod said
You work in DC? What type of contractor are you, a GC? Just curious, because I invest/flip in Bmore.

I feel you. Alot of flippers are cheap, which is why I would never buy a flip for a personal residence. Dont care if permits were pulled, as Ive seen how sh*tty the inspectors are and how little most actually do on the inspections.

Alot of contractors are sh*t too, cheap or expensive. Cheap ones usually give crappy a*s work, or cant manage their money whether due to underbidding or just being fu*king stupid, and then ask for more money or just vanish. You try and step it up in how much you spend, and sometimes you get a nice professional presentation, but the same level of work, but you paid more for dealing with a dude who took the time time to start a LLC, get a license, and therefore can put on a nice front like they are professional and worth charging sometimes double or triple your other bids, while sometimes sending the same type of dudes you see hanging out at home depot. Or they are doing the work themselves and you can see they dont know wtf they are doing, and jthey just studied and passed the contractors license test, which is more about business than skill, so it doesnt mean much in terms of knowing if a dude is competent.
No the contractor test is actually 4 parts and 1 is a competentcy test and i live in tampa. Now i only work as a vendor for corporations like apartment complex management companies , or right now im working for a giant home rental company. Im doing turnkey on the rentals as in when some one moves out the super intendent of the property sends me a property turn list and everything that needs to be done to get that property turned is ok that list as far as electrical , paint , pressure washing, plumbing , trim , cabinets down to the cleaning.
I use a guy as a subcontractor and every house i give him we split 50 50 after supplies and ill make over a g every house without ever looking at it . I pay him and i wait on the money. He did 4 last week. Right now im owed over 40 k and it sucks. I been doing work for them for a few years off and on building my name up to get where im at now. I am literally refusing work just because i have so much money out. It will come the question is when.
Ive never been a half up front dude either basically if i suspected u wasnt gonna pay i would not even do the job. Have my money when im done and dont make me look for you.
But there are plenty of piece of sh*t contractors like u mentioned and there the reason why i have so much work. I dont pay to advertise my work does it for me .
In tampa and florida they dont give out licenses to just anyone. I think its because of all the old people and snow birds that used to get ripped off. Besides spending over 1500 on books to study , i had to get a contractor sign for me my 4 years , and i had to do a back ground check , and credit check to even get them to look at my application then i had to go before a review board and it was pretty nerve wracking because they freaking destroyed the guy in front of me for wasting everyones time and i went up next about to faint because my life depended on them approving me for testing . But they was like hey mr so and so after reviewing your application i want to thsnk you for going into such detail about your work history all in favor so aye ! And every one said aye ! I fealt like shedding a tear and giving them a thank you speech but i just caught myself like just leave before u ruin it lol.
But im a high school drop out living the american dream i dont have no complaints i do what i want and eat good. God really blessed me.the best thing is giving my friends jobs or kids that never had a chance and teaching them a trade to make there own money. This kid i got now like 24 had a bad criminal record noone would give a chance and something about me wanted to help him. And he put me thru alot but man hes finally coming around he painted the whole inside of a house for me all by himself and did a perfect job no mess and fast ! And i pay him buy the job too. Thats what its all about he aint clocking in for the man i subcontract him the work here u wanna make 600 in 2 days heres what i got for you. And he never complains and hes in to flashing gold and money on facebook so he never refuses any work ! And the best thing last month he moved out his moms and him and his girl got there own apartment ! His p.o. used to call me and check in im like i got this kid dont violate let me teach him.and sure enough i believed in him when noone has ever and he shining
+5   

 5 days ago '11        #62
Brolicballer13 1 heat pts
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 StanlitoTheFly said
Atlantic City
Let me find out you in the city
+2   

 5 days ago '04        #63
dblock187s 29 heat pts29
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 Brolicballer13 said
Let me find out you in the city
+1   

 5 days ago '11        #64
Brolicballer13 1 heat pts
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 dblock187s said
You too?
+2   

 5 days ago '18        #65
MsMarySon 
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 StanlitoTheFly said
New 8plex in Little Haiti



Mans better watch himself out there that voodoo don't play
fu*k Voodoo

 5 days ago '05        #66
WCIB 122 heat pts122
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 isthistobe said
$17k house wtf where
 StanlitoTheFly said
Atlantic City
 Brolicballer13 said
Let me find out you in the city
 dblock187s said
 Brolicballer13 said
You too?
+1   

 5 days ago '19        #67
GetYaCoinsKing 1 heat pts
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 dc3003 said
I hate flippers .there so fukin cheap they want us contractors to do the best job then they wanna low ball us on everything. Then when the house gets sold they go to costa rica for 2 weeks on family vacation and buy a new benz. If a flipper / investor calls me i tell them to fu*k off i dont got time for that fu*k sh*t. All my customers pay top dollar not negotiable , if u dont want to pay what im worth ill get it down the street.

The last time i worked for a private flipper he begged me to do some work at his house and this man im telling u , litterally begged me to go 400 cheaper then my price and at this point i alrrady had some money tied in and now i just want to get done with the project so i accepted. No lie , the next day as i was finishing his wife pulled up in a brand new lexxus suv. How u gonna make such a scene over 400 dollars then buy a brand new lexxus suv the same day. Sickening
My uncle is a contractor in upstate NY and I've gotten to work with him on a few renos, Its no different from any other business, As a contractor you have to know your worth and deliver. Sure there will always be investors attempting to be 'cheap' but that is where you stand your ground and leave no room for negotiation. At the end of the day reliability trumps affordability, Its business so everyone will try to get the lowest price possible but you set yourself apart by over-delivering under the agreed time-frame.

Even here in Vegas i worked with contractors who are BOOKED due to how much demand they have for honest, reliable people. Specially with the large amount of undocumenteds working odd jobs labor is super cheap here, Even that isn't stopping the guys i worked with from making a living because they've proven to be reliable and have earned the investors trust to the point that they're given carte blanche to do as they wish during builds.
+1   

 5 days ago '04        #68
thegod 
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 dc3003 said
No the contractor test is actually 4 parts and 1 is a competentcy test and i live in tampa. Now i only work as a vendor for corporations like apartment complex management companies , or right now im working for a giant home rental company. Im doing turnkey on the rentals as in when some one moves out the super intendent of the property sends me a property turn list and everything that needs to be done to get that property turned is ok that list as far as electrical , paint , pressure washing, plumbing , trim , cabinets down to the cleaning.
I use a guy as a subcontractor and every house i give him we split 50 50 after supplies and ill make over a g every house without ever looking at it . I pay him and i wait on the money. He did 4 last week. Right now im owed over 40 k and it sucks. I been doing work for them for a few years off and on building my name up to get where im at now. I am literally refusing work just because i have so much money out. It will come the question is when.
Ive never been a half up front dude either basically if i suspected u wasnt gonna pay i would not even do the job. Have my money when im done and dont make me look for you.
But there are plenty of piece of sh*t contractors like u mentioned and there the reason why i have so much work. I dont pay to advertise my work does it for me .
In tampa and florida they dont give out licenses to just anyone. I think its because of all the old people and snow birds that used to get ripped off. Besides spending over 1500 on books to study , i had to get a contractor sign for me my 4 years , and i had to do a back ground check , and credit check to even get them to look at my application then i had to go before a review board and it was pretty nerve wracking because they freaking destroyed the guy in front of me for wasting everyones time and i went up next about to faint because my life depended on them approving me for testing . But they was like hey mr so and so after reviewing your application i want to thsnk you for going into such detail about your work history all in favor so aye ! And every one said aye ! I fealt like shedding a tear and giving them a thank you speech but i just caught myself like just leave before u ruin it lol.
But im a high school drop out living the american dream i dont have no complaints i do what i want and eat good. God really blessed me.the best thing is giving my friends jobs or kids that never had a chance and teaching them a trade to make there own money. This kid i got now like 24 had a bad criminal record noone would give a chance and something about me wanted to help him. And he put me thru alot but man hes finally coming around he painted the whole inside of a house for me all by himself and did a perfect job no mess and fast ! And i pay him buy the job too. Thats what its all about he aint clocking in for the man i subcontract him the work here u wanna make 600 in 2 days heres what i got for you. And he never complains and hes in to flashing gold and money on facebook so he never refuses any work ! And the best thing last month he moved out his moms and him and his girl got there own apartment ! His p.o. used to call me and check in im like i got this kid dont violate let me teach him.and sure enough i believed in him when noone has ever and he shining
That's what's up man. Glad you moving and shaking down there. If you're are reliable, and stick to your word, business will be flowing, because that's not the norm unfortunately.

Florida clearly is more strick than Maryland. Here is Marylands requirements lol:
"
It is an open-book exam, which means that you can have approved reference materials with you during the exam.**

MHIC Contractor Exam

55 questions
Passing Score: 39/70% passing score
150 Minutes for the exam

Sections
Home Improvement Law (41 questions)
Door-to-Door Sales Act (4 questions)
Labor Laws (3 questions)
Safety Regulations (4 questions)
Estimating (3 questions)"

As you can see, you can not know how to use a hammer and be able to sell contracting services here. sh*t is a joke.
+1   

 5 days ago '17        #69
StanlitoTheFly 423 heat pts423 OP
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 Brolicballer13 said
Let me find out you in the city
Nah not me DJ Envy just got that crib out there in Atlantic City

Top 10 most slapped recently  5 days ago '04        #70
dc3003 120 heat pts120
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 thegod said
That's what's up man. Glad you moving and shaking down there. If you're are reliable, and stick to your word, business will be flowing, because that's not the norm unfortunately.

Florida clearly is more strick than Maryland. Here is Marylands requirements lol:
"
It is an open-book exam, which means that you can have approved reference materials with you during the exam.**

MHIC Contractor Exam

55 questions
Passing Score: 39/70% passing score
150 Minutes for the exam

Sections
Home Improvement Law (41 questions)
Door-to-Door Sales Act (4 questions)
Labor Laws (3 questions)
Safety Regulations (4 questions)
Estimating (3 questions)"

As you can see, you can not know how to use a hammer and be able to sell contracting services here. sh*t is a joke.
Oh my what a joke. That is a shame . What a sh*thole right there and the city starts with the people elected and if baltimore has been a sh*thole for the last 50 years under democrats and the people not moving forward why not try republican. (No offense)

Ours are also open book tho but your only allowed to tab your book.

 5 days ago '05        #71
TheChampIsHere! 
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 JohnDoe said
The real game isn't in flipping houses, its in the financing of new commercial real estate. You can't even get into that game unless you have someone who lets you in, its a tight knit group of high income investors with personalities that mesh well with each other.



OK is this game all about just having the title and never handing over money but having a super tight deadline? If you do have to have capital how is the bank leveraging the risk if you're not using cash or credit through a loan?
your not dealing with the bank. you are getting the home under contract and a*signing the contract over to an end buyer (investor) who is dealing with the bank.

 5 days ago '05        #72
TheChampIsHere! 
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 collegeboy58 said
Where are you wholesaling at??
richmond, va

 5 days ago '04        #73
dblock187s 29 heat pts29
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 Brolicballer13 said
You too?

 5 days ago '08        #74
Gmengfx 82 heat pts82
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 BlueGold said
Gotta have money to make money!

This is a key example

Get ya money up and invest it wisely & with someone who you really trust. Not just trust. But I trust you with my life savings type of trust.

Don’t let ya homies dumbass ideas get you back to square one
Not true. You can get a loan. Not saying its the smartest but.

my old landlord has like 50 joints. I once said I need to start saving, and he told me no...you need good credit and a good relationship with a bank. He started with $0

 5 days ago '16        #75
BlueGold 13 heat pts13
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 Gmengfx said
Not true. You can get a loan. Not saying its the smartest but.

my old landlord has like 50 joints. I once said I need to start saving, and he told me no...you need good credit and a good relationship with a bank. He started with $0
Yeah real money is Credit. Not the paper. You can have 50 bucks to your name but if you got good credit then you can have 50K

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