Striving to create a better life for everyone by sustainably solving real estate problems

(512) 807-8777

Tag Archives: contractors

A Contractor for that Mattress House?

“I’m very good with digging through rubble. You guys should have hired ME,” says Vlassic.

The good news is that the Mattress 8 project in Temple no longer has any mattresses in it.

The bad news is that it doesn’t have a contractor working away in it, either.

It’s not for lack of trying! Lee and Mandi have been contacting potential contractors, scheduling meetings, finding the potential contractors are flaky, and starting the process again. Lots of times. I know that all our mentors say Craigslist is a great place to find contractors who will work for reasonable rates, but we are not lucking out in the Temple market at all.

But maybe the tide has turned! Lee met with another potential contractor, who even has a team and is interested in investing. His initial estimate is in line with what we think the project will cost to get it up to rental quality. We’re just waiting for the bid now.

Cross your fingers, or whatever you do to support your real estate redevelopment friends, and hope this one works and we can MOVE on this project!

13Shares

Contractors. Please Don’t Tap the Glass!

I have had the pleasure and pain associated from working with contractors. Some are great, some are a little more difficult. Recently, I have heard quite a few stories from some of the better (in my opinion) contractors that I have worked with about really bad experiences they have had. I want to go over what should really be common knowledge, but appears as not. Let’s dispel some myths associated with some of these bad experiences right quick.

This is not how contractors create their bids.

Contractors Can See the Future!

There may come an occasion where you receive a bid and the contractor discovers something else that should be addressed. That happens. Make it clear from the start that you need to be notified if it happens, and you will make a decision. If your contractor discovers something like black mold, and you tell them that you don’t want it fixed, please understand that they might leave the project. Black mold is bad for many reasons. They could be held by moral standards as well as legal for turning a blind eye to it. They are not the bad guy for this, and you should have contingencies set up just in case. Please don’t take it out on the contractor if they discover an underlying problem that no one knew about. They are not psychic and do not consult a crystal ball when figuring up your bid. Well, the ones I know don’t do that. There may be some that do.

Continue reading →

5Shares

What Is an Opportunity?

Opportunity is missed by most people because it is dressed in overalls and looks like work. Wikia provided Wendy's image. I built the slide.

Wendy knows that all opportunities
involve some kind of work.
Wendy Source: Wikia

I came across a great quote attributed to Thomas Edison. “Opportunity is missed by most people because it is dressed in overalls and looks like work.” It got me thinking about all the opportunities we provide and the kinds of work they require to see to fruition.

Opportunities in this business do require work—some more than others.

But there’s more than one kind of work. Here, in no particular order, are a few of the opportunities we provide to help everyone achieve a better life.

Real Estate Problems
Sometimes a house is just a burden for the owners. They can’t afford the payments. They need to move quickly for a job opportunity. Deferred maintenance has built up to the point where they can’t deal with it. They inherited the house, but they live in another county or another state and just can’t take the time to deal with it.
The reasons why people need to sell a house or endless. We can help them by buying the house and closing on their schedule.
Have I mentioned that many of the houses we buy and renovate are eyesores? Our process improves the whole neighborhood by cleaning up rundown houses, picking up garbage, or just freshening the paint and landscaping.
Exposed shower valve in a 1960s bathroom.

What do you see here? Is this a problem or an opportunity? Hint: You can’t have without the other.

Market Research and Development
It takes a lot of time to find and secure a deal. Some of our associates learn a market by driving around and looking at houses (driving for dollars). They then sell us the list of prospects they compile.
Others specialize in getting houses under contract. They then sell us the contract wholesale.
And, of course, Realtors® help us buy and sell houses, earning a nice commission.
Physical Labor
Renovating a house requires a variety of skilled and unskilled labor. It provides work for electricians, plumbers, framers, landscapers, and cleaners.
White Collar Work
You don’t think about lawyers and accountants needing work, but they do. We have a full-time bookkeeper, a CPA who reviews our books and prepares our tax returns, and real estate lawyers who consult with us on every project. Then there is the clerical staff who work for each of these professions and at the title companies that close the purchase and sale transactions.
Loans
We often have to buy houses faster than a bank or mortgage company can make a funding decision. When we don’t have the liquidity to close the project on our own, we rely on private lenders with whom we have an established relationship. We help them put their money to work earning a much higher return than they would earn from a bank. Of course, there’s more risk than with most banks, but we believe the reward is much greater than the risk.
We also lend money on good projects when we run low on projects for ourselves.

You can see how every project we take on has the ability to help lots of people achieve a better life. We really do improve people’s lives by solving real estate problems.

If you’d like to talk to us about how we might be able to help you better your life with one of these opportunities, please drop us an email or call 512-807-8777.

20Shares

It’s Summer. How’s Your Contractor Doing?

This part of the house was sheltered. Much of the time, this guy was working in the blazing sun. This was Septermber.

I always wondered how people who build and renovate houses manage to make is through the summer. And summer is especially hot here in Texas!

When the amazing brick specialist was putting the limestone on our ranch house (see photo at right), I noticed that when he was in the sun, he always had his head completely covered, and drank water constantly. I think, secretly, that he’d built up a resistance to heat, like Lee’s farmer father did. A cool head keeps the rest of you cool, for sure, as does wetting a cloth and putting it on your neck.

Where there are teams building the infrastcture for a new neighborhood between Austin and Cameron, I have noticed that there are a couple of small trailers set up like gazebos, with benches and a roof for shade. Each has one of those misting fans at one end. That has got to be a welcome spot for breaks.

That’s a big fan, isn’t it?

Workers who are inside the house before there’s air conditioning set up can hope that there’s a lot of insulation, like we have at the Rattlesnake house. It really hasn’t been too bad in there. Plus, Chris has some massive fans. Moving the air helps a LOT. We do have a few window air conditioners now, and this week, where it’s been over 100F and very humid, I would not be surprised to find out those boxes have been opened. If it was me, ceiling fans would go in very quicjky, too!

If you’re a redeveloper, make sure your GC is treating the teams well. Heat stroke is not fun, and pushing people to work longer for some deadline is not worth risking their health.

 

20Shares

The Fate of the Rattlesnake’s Name and Construction

Technically, this one was across the road. But, it’s from around here.

The Rattlesnake, Rattlesnake, The Annex, Lady Rattlesnake. All variations of the name that describe the house under construction that will be my future house. Several people want to know if I will rename it once I move in. The answer is yes. The name will be changed. However, the “Rattlesnake” part will still be in there.

People have laughed, and truly been afraid for me. Let me assure you, we are in venomous snake country around here. The last country house I moved from had copperheads. It was infested with them actually, and they were pretty territorial and mean. When they claim a territory, it may be the entire property and you are trespassing.

Fans, family, and friends, please take Rattlesnake’s name to heart. Get your pet the vaccine against the venom, and always expect to see a snake. I never panic, because I expect snakes to be everywhere that there are rodents, water, heat source, shelter, or any variation of these things. “Constant Vigilance!” Every house in this area is “The (Insert Venomous Snake) House.”

The progress and me

I could never express how it feels to walk into a shell of a house, hear your footsteps echo, hear some of the things done to it, and feel the emptiness. Then one day you walk in, and that echo is gone. That echo is replaced by sheet rock, insulation, doors, windows, etc. And your visions and daydreams are no longer only in your head.

Continue reading →

14Shares