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May 25, 2012, 04:14:17 AM

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Real Estate Investing Forums  |  Real Estate Investing  |  Rehabbing, Landlording Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: How do I estimate rehab repairs? « previous next »
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klproperties
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« Reply #15 on: January 04, 2007, 06:31:47 PM »

You are right and I will strive to be as great as you claim yourself to be and thanks for the info and reminder we all need it for sure. again thanks
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« Reply #16 on: January 04, 2007, 06:52:40 PM »

Glad to be of some assistance to the SA deficient. As I said before, I wasn't directing my statement towards you, let it go. Make sure you want heat before you start a fire.
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"I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."- Isoroku Yamamoto, Japanese Admiral- After the attack on Pearl Harbor
klproperties
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« Reply #17 on: January 04, 2007, 07:03:58 PM »

I can stand all the heat. I know it was not towards me. If you think I was a SA then I am sorry you took it that way and it bothered you soo and did not mean it that way thegreat. Again ones like you do help the site for sure. You are right lets drop this nonsense and learn as I know I need it for sure. again thanks. I will read and learn how the ones that have used this site the most get around the rules in the different wording that means the same thing. Legal reasons I am sure. Again thanks for the reminder truely.
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« Reply #18 on: January 05, 2007, 12:54:17 PM »


Then we agree on a time frame, and in the contract it states that for every day past the agreed time I take $150 a day off the total I owe them.  I could go on and on...  but the bottom line is to make sure you pay by the job, and definitely not by the hour.  

We have something similar in our contracts. The other thing that we've added is: "If you fail to show up twice without notifying us the day before, you will be terminated and any funds due to you will be null and void." We did this because we know a contractor (friend of a friend) that will put his crew on a site until it reaches the halfway point (when he gets the first half of the money) and then he pulls the crew and moves them to a different job (again to the halfway point). He leaves his original job hanging until he has the time for them.

One thing that does help is requesting that any estimates are done with material and labor seperated. This gives you a better idea of where the money is going. Keep in mind that the labor portion maybe higher if you provide the material than the labor combined with materials quote.

Bobbi
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klproperties
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« Reply #19 on: January 05, 2007, 01:02:25 PM »

To all that is good stuff and have not thought of the no show notice at all that is good but have the $$ for going over the finish time. What do yall think about a bonus for fininshing early for the same amount of finishing late. You would have to know I recon if they are bidding to much time to get it. Thanks in advance.
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« Reply #20 on: January 05, 2007, 02:52:23 PM »

What do yall think about a bonus for fininshing early for the same amount of finishing late.

We took some time and considered that, but came to the conclusion that by finishing early they're already getting a bonus. ie: I bid a job based on the estimate that it will take me 8 hours. You agree to that amount. Then I finish in 5 hours. I've basically gotten the remaining 3 hours as bonus pay. It's another good reason to requests bids by the job rather than the hour.
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« Reply #21 on: January 05, 2007, 03:04:18 PM »

Great and again thanks I do agree for what it is worth.
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Real Estate Investing Forums  |  Real Estate Investing  |  Rehabbing, Landlording Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: How do I estimate rehab repairs? « previous next »
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