Thank you so much for all you do Jackson! Your videos are the shit and teach so much! Don’t stress it man like you said it’s all part of the process.. You got this Cheers to an amazing 2025!! Ps get your money from your contractor don’t let people take advantage of your kindness it’s business..
Thank you for sharing your experience with us. I, too, am a very nice person and I know I will have issues with being too nice as well. You’re doing great! Your skin will thicken with time.
Business communication recommendation: open your email with exactly what you’re trying to accomplish. I.e., “I’m reconciling the budget and have a few adjustments I need you to weigh in on” then make your case by explaining exactly what services you received vs what you paid for. Thank the contractor for his flexibility with the additional things that came up, but show what you paid for those things, what you received and what your understanding is of what he’s owed for those extras. Maybe ask him how he’d like to make this right, whether it’s during your exit strategy or money back. Perhaps a profit percentage can be changed in lieu of a refund. He may like that. And also, don’t be shy about blaming your hard money draws on the fact that you need to audit the repair expenses. These draws are based on work completed and subject to audit. Just the facts. There’s my advice. Keep rocking it. Love your content!
unreal! i cant believe the ideas i am getting from this. sooo hard exposing myself like this and get hammered sometimes but this makes it worth it! thanks so much
Thanks for being real with this flip and a sucky situation. Contractor gets to have his cake and eat it too. Hope he at least does you a solid on the next deal and then start working independently from contractor.
Jackson -- I've watched most of your videos but its hard for me to keep all these flips straight. Would you do a video just listing out all the flips you've done/have going, with all the "main" money line items like purchase price, remodel budget, actual remodel cost, expected sell price, actual sell price, months held, loan payment amounts, closing costs, profit, and any other things you find important. I imagine you've probably gone over all these before but I understand if there are certain things you want to obscure. And just general unsolicited advice -- don't be afraid to stand up for yourself and be seen as the "bad" guy. No one else is looking out for you, and I think a lot of people are seeing you as a piggy bank. Get second and third quotes on your contracting work. And use the word "no" more. Thank you for a look behind the curtain, and keep your head up
great advice all around. i will be the first to admit my biggest trait is how easy going i am but its my biggest downfall as well. thats why i strive partnering with people who run business that way. i can attract business but need that "tough" person to run it! thanks!
You make your money on the buy, but the city can take a sure win and turn it into a disaster with red tape. Know of a certain city near me that's known for taking 60k rehab budgets and turning them into 150k rehab budgets by forcing people to tear down houses and rebuild entirely up to code. If you can get the deal done without having to run permits you can make bank, but if a certain code guy comes by he can ruin you. Point being, while 10 months is unacceptable to me, the city you're flipping in can certainly make things a huge pain in the ass to no fault of your contractor, which you did acknowledge to be fair. With that in mind, be firm with your guy, but also be understanding. Have the conversation with the intent of improving and continuing the relationship. Learn your lesson then move on knowing you won't make the same mistake twice. Best of luck!
Hey Jackson, I'm confused you said they came out, so how was the garage work paid if hard money came out to check progress before draw? Did your scope not have the garage work in it? I'm like you I'm too nice and I have to change.
You got this! Remember, buying a deal with better numbers will limit your out of pocket! On your first flip, target >$10k to close if possible! You will need the right lender offering LTV to achieve this.
@ no no no. Please. 🙏 I’m 38. Vacation = your brain on steroids afterward and you make so many networking connections when you come back. just so it a few times then see.
You got this homie! hit me up so we can get you connected with a hard money lender so you know what you need to make it happen! shoot me an email personally if you want! invest@realagentnow.com
I'm not currently, nor have I ever flipped a house. But I do not have these kinds of conversations via email or text. You're both still feeling out your working relationship. I would do this in person, or at least via the phone. Have your email facts ready to send. But if you are partners, you should not be afraid to say these things in person. I would say in person early in your partnership, via phone as you have been working together for a while, and then maybe via email once you are solid.
I hear ya homie, that's definitely good advice, gotta communicate! it was actually good for me to just get it all written down so we can have a good conversation!
You have to do what you have to do, but I never understood why you would even do 50/50 with your contractor I understand doing it with the money lender but not the contractor and the other problem you had was using your buddy for business. It's never a mix that works. Do not add the part either remove it you sound like a finger pointing by saying "if this was your project...." remove it again there's no need for it. Load this up to chatgpt and have re-write it
I appreciate your feedback, it's important to learn from every experience. It amazes me how many messages and emails i get asking this question that they have a contractor partnership so it may be hard for some to understand but i do think it is a common thought to do so by others! again its a decision i made, he does amazing work, I hope so many learn from me!!
I would make this a phone call if you want to keep the relationship for sure. Call em, just say "hey the numbers are a bit funky, just trying to find out where our expenses went above/below what they should be." Sending the list I think is totally fine but the email sounds borderline accusatory and I wouldn't toe that line yet. It really sounds like you guys need some form of business entity, I'm not familiar enough to make recomendations but an LLC with you two, or at the very least a joint bank account will be extremely beneficial.
dude this is the best way ive heard that is so good! im actually going to do this! its so hard exposing myself on here but its worth it to get these responses. thanks homie
If you’re still good with that contractor this email is a bit impersonal. Have a conversation face to face with the information put together. Email sounds like it’s 1 step away from suing him.
NO. you do need cash for CLOSING COSTS but IF the numbers are good the hard money lender will loan you the money to purchase the house and the renovation budget, you need to reach out and we can connect you for free to a good hard money lender in your market so they can explain everything! shoot me an email at invest@realagentnow.com
That’s a tough call because the storm damage messed up a lot of stuff and he didn’t itemize the repairs? If he wants to kick back 10k I think it’s fair . He made a lot on your flips all his prices has a mark up. You taking all the risk and headaches to keep his guys working. It’s all business to that guy , next time you should be more involved in the flips buy materials get just labor quotes. Your very first flip was a home run and kinda made you think it was easy with little oversight on your end.
Prayers of course for your continued success, Jackson. His will. His glory. 🎉
Thanks for sharing. The email looks great and I hope you guys can come to an agreement and not ruin relationships!
Thank you so much for all you do Jackson! Your videos are the shit and teach so much! Don’t stress it man like you said it’s all part of the process.. You got this Cheers to an amazing 2025!! Ps get your money from your contractor don’t let people take advantage of your kindness it’s business..
Thank you for sharing your experience with us. I, too, am a very nice person and I know I will have issues with being too nice as well. You’re doing great! Your skin will thicken with time.
Business communication recommendation: open your email with exactly what you’re trying to accomplish. I.e., “I’m reconciling the budget and have a few adjustments I need you to weigh in on” then make your case by explaining exactly what services you received vs what you paid for. Thank the contractor for his flexibility with the additional things that came up, but show what you paid for those things, what you received and what your understanding is of what he’s owed for those extras. Maybe ask him how he’d like to make this right, whether it’s during your exit strategy or money back. Perhaps a profit percentage can be changed in lieu of a refund. He may like that. And also, don’t be shy about blaming your hard money draws on the fact that you need to audit the repair expenses. These draws are based on work completed and subject to audit. Just the facts. There’s my advice. Keep rocking it. Love your content!
unreal! i cant believe the ideas i am getting from this. sooo hard exposing myself like this and get hammered sometimes but this makes it worth it! thanks so much
Thanks for being real with this flip and a sucky situation. Contractor gets to have his cake and eat it too. Hope he at least does you a solid on the next deal and then start working independently from contractor.
ya man super hard to expose myself on here but im getting such good ideas on how to handle these things!
Jackson -- I've watched most of your videos but its hard for me to keep all these flips straight. Would you do a video just listing out all the flips you've done/have going, with all the "main" money line items like purchase price, remodel budget, actual remodel cost, expected sell price, actual sell price, months held, loan payment amounts, closing costs, profit, and any other things you find important. I imagine you've probably gone over all these before but I understand if there are certain things you want to obscure.
And just general unsolicited advice -- don't be afraid to stand up for yourself and be seen as the "bad" guy. No one else is looking out for you, and I think a lot of people are seeing you as a piggy bank. Get second and third quotes on your contracting work. And use the word "no" more.
Thank you for a look behind the curtain, and keep your head up
great advice all around. i will be the first to admit my biggest trait is how easy going i am but its my biggest downfall as well. thats why i strive partnering with people who run business that way. i can attract business but need that "tough" person to run it! thanks!
Anyway we can get Joe to link us with the flip calculator v2
You make your money on the buy, but the city can take a sure win and turn it into a disaster with red tape. Know of a certain city near me that's known for taking 60k rehab budgets and turning them into 150k rehab budgets by forcing people to tear down houses and rebuild entirely up to code. If you can get the deal done without having to run permits you can make bank, but if a certain code guy comes by he can ruin you. Point being, while 10 months is unacceptable to me, the city you're flipping in can certainly make things a huge pain in the ass to no fault of your contractor, which you did acknowledge to be fair. With that in mind, be firm with your guy, but also be understanding. Have the conversation with the intent of improving and continuing the relationship. Learn your lesson then move on knowing you won't make the same mistake twice. Best of luck!
Hey Jackson, I'm confused you said they came out, so how was the garage work paid if hard money came out to check progress before draw? Did your scope not have the garage work in it? I'm like you I'm too nice and I have to change.
Currently doing 50 days straight at the oil field to save money for my first flip 🙏🏾 2025 is it
You got this! Remember, buying a deal with better numbers will limit your out of pocket! On your first flip, target >$10k to close if possible! You will need the right lender offering LTV to achieve this.
You need a vacation
@ I’m 24. I rather put in the hours now so I don’t have to later on. Vacation will be here still. God willing
@ no no no. Please. 🙏 I’m 38. Vacation = your brain on steroids afterward and you make so many networking connections when you come back. just so it a few times then see.
You got this homie! hit me up so we can get you connected with a hard money lender so you know what you need to make it happen! shoot me an email personally if you want! invest@realagentnow.com
About the faultline: Wasn't the Title Company responsible for warning the guy that it's on a faultline?
I'm not currently, nor have I ever flipped a house. But I do not have these kinds of conversations via email or text. You're both still feeling out your working relationship. I would do this in person, or at least via the phone. Have your email facts ready to send. But if you are partners, you should not be afraid to say these things in person. I would say in person early in your partnership, via phone as you have been working together for a while, and then maybe via email once you are solid.
I hear ya homie, that's definitely good advice, gotta communicate! it was actually good for me to just get it all written down so we can have a good conversation!
Hi! Are you a mentor?
You have to do what you have to do, but I never understood why you would even do 50/50 with your contractor I understand doing it with the money lender but not the contractor and the other problem you had was using your buddy for business. It's never a mix that works. Do not add the part either remove it you sound like a finger pointing by saying "if this was your project...." remove it again there's no need for it. Load this up to chatgpt and have re-write it
I appreciate your feedback, it's important to learn from every experience. It amazes me how many messages and emails i get asking this question that they have a contractor partnership so it may be hard for some to understand but i do think it is a common thought to do so by others! again its a decision i made, he does amazing work, I hope so many learn from me!!
I would make this a phone call if you want to keep the relationship for sure. Call em, just say "hey the numbers are a bit funky, just trying to find out where our expenses went above/below what they should be." Sending the list I think is totally fine but the email sounds borderline accusatory and I wouldn't toe that line yet. It really sounds like you guys need some form of business entity, I'm not familiar enough to make recomendations but an LLC with you two, or at the very least a joint bank account will be extremely beneficial.
dude this is the best way ive heard that is so good! im actually going to do this! its so hard exposing myself on here but its worth it to get these responses. thanks homie
If you’re still good with that contractor this email is a bit impersonal. Have a conversation face to face with the information put together. Email sounds like it’s 1 step away from suing him.
This^^^
So for a first flip you’ll need cash down deposit for the hard money loan
And if the rehab is $60k I’ll also need that in cash ?? Sheesh
NO. you do need cash for CLOSING COSTS but IF the numbers are good the hard money lender will loan you the money to purchase the house and the renovation budget, you need to reach out and we can connect you for free to a good hard money lender in your market so they can explain everything! shoot me an email at invest@realagentnow.com
That’s a tough call because the storm damage messed up a lot of stuff and he didn’t itemize the repairs?
If he wants to kick back 10k I think it’s fair . He made a lot on your flips all his prices has a mark up.
You taking all the risk and headaches to keep his guys working. It’s all business to that guy , next time you should be more involved in the flips buy materials get just labor quotes. Your very first flip was a home run and kinda made you think it was easy with little oversight on your end.
Edit : It’s has a mark up on prices plus it’s his crews.