OK Phil. I'll accept some responsibility here. I just watched the 7 things to never say to contractors video and was PISSED at you. You seemed like a typical want everything, but will give nothing kind of a customer. As a high quality contractor, every negative thing that you said in that video grated on my professional pride. And... I hammered on you a bit in my comments.... My apologies - I take back my comments about you picking the wrong kind of contractors. OK - you hit the nail on the head with this video! These are all great tips for folks to break into the building community and not end up on the wrong side of the tracks. I also loved the parts about being an informed client and also not being a PIA client. Anyway, wanted to apologize for the comments on the other video - you seem like a professional guy who knows what's up. Good on you. I'm starting to play around in the RE investment field and want to provide a product that is a cut above the laminate floor and quick paint job that most of the homes that I see on the market have as their 'remodeled' look. I'll definitely be looking into more of your vids. Cheers from AK!
permit cost for panel changeout: $84 delay caused by waiting for power company to disconnect and reconnect: 6 weeks. totally feeling you on the pulling permits issue -guy who changed his own service panel
Gosh, love your videos and advice! Some of this applies to many other professions as well. Especially those who are consultants and freelancers like myself. I write proposal for a living and can often tell if a client will be difficult to work with when they haggle me on prices (difficult to pay) or do NOT communicate their needs. Often times they don't take responsibility.
I had a terrible experience with HomeAdvisor they gave me a charlatan who took my money to start a job to buy materials and never came back HomeAdvisor wanted them to show the receipt for their materials and they didn't have it no I do not like HomeAdvisor they actually told me they're just an advertisement agency and they gave me a bad one
Sorry you had this bad experience. Did you ever get your money back? I kind of feel that a good number of contractors on AL and HA don't have enough business and that's why they need the marketing and advertising, well, there's a reason they don't have enough business, that could be alarming. Like Phil said, a great contractor is too busy to advertize and they don't even need it.
been researching and learning real estate investing and after a few months i think i have watched almost all your videos and others. I think i am ready to start practicing
New sub. I love your videos! You're awesome, Phil! Thank you. I'm going to be looking for a GC for a concrete/foundation type work. And to be honest, I am very nervous about getting this done. So many horror stories in my state, NC, that it almost prevents me from trying to move forward. But, thank you for the advice! We do appreciate your videos and content! It makes a huge difference. Thank you!
hello if you are dealing with contractors a lot, this video will help you negotiate good deals. Let me know your thoughts ua-cam.com/video/sCm-ZRGcrTg/v-deo.html
@@goldentalonconstruction7289 Hey, GTC, those were great tips. I appreciate the information. However, my issues have never been with negotiation, as much as they have been with getting a "High-Quality" result. I will PAY ANY contractor for their craftsmanship! To me, that is worth every dime spent. I make a high-quality product, and I expect a contractor to do the same. My name is on my product, as their name is on theirs. And, in NC, dumpy contractors are NOTORIOUS for shutting down one name, and re-opening under another. This happens quite often, here. Because their is a shortage pf contractors in this area of NC, they can get away with doing shoddy work, and no-one can do anything about that, as the damage is already done, and having to un-do a huge mess, is twice as much money. Anyway, you get it. Thank you for the info! I really do appreciate your time! Happy 4th, and stay safe!
@@INFIDEL82AA I understand what you're saying now. Fortunately in NYC area, there is a lot of competition. In order for you to stand out and get the high paying jobs, you have to do a good job. Also there are regulations that allow the city and customers to continuously sue you until losing your license. Once you lose the license, you won't be able to restart a new business under that person's name. Driving down to NC now :)
Great videos with enthusiasm! Every time when I looking for new contractors I come back to your video. My favorite RE channel! Keep up the good work. Mind if I ask where are you located? Definitely want to meet up when pass by next time
Yep. Had a contractor try to mess with me. He showed up when he said he would to look at the job. Told me he would have an estimate for me the next day. Didn't hear back for a week. I thought maybe there had been a miscommunication and approved the job. He said he would have the materials list for me the next day and could begin the job the following week. Didn't hear from him the following day, so I contacted him the day after I was supposed to receive the material list to ask him about it so I could get materials. Didn't hear back from him until the day he was supposed to show up for the job. He texted me a copy of the materials list and said he would be able to start the job later that week. I replied by telling him that when he didn't respond to me the previous week, I believed he had disappeared and decided to go another way. It's a shame. He is one of the few contractors I could even get to return to me with an estimate.
@@jvhamby5 Dont mean a thing I do business with those that are true to their word. If you tell me you'll have an estimate tomorrow and I dont hear from you. That is a red flag for me. Ypu should've just told me next week but you didnt. So bye
Your honesty is awesome with its passion even though shallow people complain. Experience is where your skin thickness is formed and I can understand how it was birthed. I actually appreciate the pitbull perspective because often times too many people are so willing to take advantage of someone. And your videos and perspectives can help position someone in a position where they can now function in a guarded way and yet stay professional to keep the business relationship in good standing. It's sad that certain people respond better with a direct assertive and pitbull perspective rather than something less because their inner man is not in great shape or condition. Your thick skin really gives a true sense of reality to what you have encountered and I am grateful to witness it because that really reveals to me what is really out there. That helps me to discern how I must approach my endeavors before I begin to not allow anyone to make me their victim of choice. Thank you for the advice and thank you for reminding me of what I have already learned in the real estate industry because I almost forgot and now I have a real sense of direction to start with. P.s. I forgot that certain industries allow felons. Thanks for your FYI, Thank you
I have to get a new roof put on, I vetted two contractors all ready and I don't feel confident at all with either. I like your pointers. Going to put them to use. If you know someone in CT I should look at, hit me up!
Feel you hit it on the head again great discussion about contractor I live here in Florida had some damage from Hurricane Irma now I know what to do thank you
I had a contractor steal some 2x4s that were in my basement to frame their work, and use one of my garbage containers to use for water. When I asked him about it imho said yeah sorry I needed to use it. He never came back to replace them. But he did leave some tools and some extra bags of cement.... Best believe he never will see those tools again, nor cement. This mindset TOTALLY baffled me.
I never hire a GC. My plumber does plumbing. My electrician does electrical. My HVAC guy does HVAC. My roofer does roofing. My concrete guy does concrete. And then my crew does all the other stuff.
That is awesome. How long did it take you to build your own crew? This is something I am very interested in. I am a licensed architect and have a very good understanding of how things should be constructed scheduling wise etc. but, have been having trouble finding the right people because all of my previous connections are too big (commercial building).
Enjoy your videos ty question in state of Florida having a outstanding mortgage can i sell the single property lease to own or rent to own and where i can i get a copy or sample of a contract format .
Where are you located? I’m currently saving money to build my first home from the ground up in Cochise County, Arizona with my own money. Earned from the sweat off my back. I would happily pay you for your time to supervise the construction. Or at the very least perhaps you could recommend someone in that area who could supervise it. I’m just scared to death of being screwed by contractors building my first house. As I don’t know what the heck I’m doing and I admit that
So Phil I have a Handyman right now and he tells me it will take 2-3 days to complete a job. When the Job is all over he might have spent 2-3 days but not 8 hours per day. Does a day mean 8 hours or just that he is committing 2-3 days for the job? Thanks in advance!
Phil, you mention sometimes hiring unlicensed plumber for a minor job - how about the legality if they get hurt on the job? Do you need to buy some sort of insurance for these purposes?
I am not aware of any insurance that would protect you since most liability components of your property insurance policy exclude contractors. Instead, ONLY hire uninsured contractors on jobs that have 0% chance of getting hurt (such as a cleaner sweeping the floors)
Gotcha, thank you so much for the reply despite your busy schedule. I just started looking into real estate investing. Hoping to work on it part time to supplement our current income. Need to convince my husband, so learning all I can. I love your videos. I can feel your passion coming through. Hoping to one day work with you and your team. I’m in Sanger CA, central CA. How much is your program?
Dear Phil, I greatly appreciate your educational videos about investing in real estate, I have learned so much. I have been in real estate industry for 15 years on snf off now I would like to be an investor. When should I buy a vacation rental property in Lake Lure, North Carolina? Is it better to buy vrprop. On the water, in the mountains with a view? I am going through divorce right now, should I wait till it's final or can I buy property while in a process of divorce. Any information about this would be appreciated. Again. Thank you. Sincerely Marina
Wait until the divorce finalizes so that you will be the owner of the property without the soon-to-be-ex-wife having any claim to the property. Next, use that time to study that market by reading the Reviews of every vacation rental listing in Lake Lure area. And look at the pricing too. It will become clear what the sweet spot is, in relation to price versus rental rate versus guest satisfaction. Obviously the best would be a lake view and a mountain view; but let the facts teach you the real story.
Phil, thank you for taking time from your busy schedule and giving me your best answer. You are so nice and personable. Your advice is priceless. I wrote everything down you told me to do and will follow your advice. I am determined and excited. Sincerely, Marina
Phill. I like your videos and I am actually considering getting into real estate as an investor. I am thinking 4 family houses. What's your opinion, and can you give me an idea of what a realistic percentage monthly cash flow should be from a property after paying the mortgage and expenses.
You're in the cash flow capital of the world. You can buy properties below $30,000 and get $900+ per month in rent. There is basically no other place in the United States that has as good of a cap rate as you have.
wow really? 36% cap rate? im across the pond and looking at getting into some real estate investing..best cap rate i can find is 14% and i thought that was good...im better off to convert to american dollars and buy over there....idk how that works as a canadian citizen though
What’s your take on paying contractors upfront to get started. Most are willing to accept first payment after a certain percent of job is done, but there are some that require 25% down before they start. Do you just skip them and go to another?
No one works for free, I am not going to risk my time and material for nothing. I use , a third down, third half way, a third after completion, unless there arespcial circumstances.
Hi Phil Pustejovsky my name is Kenneth have you ever bought a REO could you explain what they require from you before you bought it because i don't know if i can put it on contract to wholesale for a assignment fee to my rehab buyer
Phil, you mention someone willing to work without pulling permits. You didn't indicate if it's good or bad. I never want a short hassle to become a long one. Thanks for your series. I also want to hear your take on needing architects.
Dear Phil, I have to live in a very expensive area in Charlotte NC, Zip 28277, where my almost ex husband wants our kids to go to school. I currently rent $1000 per month and on the low side, rentals here go up into $2000 or more. South Carolina border is couple miles away where I could purchase a trailer or manufactured home for less $80,000 vs cheapest toenhome in 28277 for $200,000. Could you please make a video on trailers, manufactured mobile homes and is it a good investment, purchase idea. Many people asking and don't know if they are getting themselves in financial trouble here. What is the solution for people like me who must remain in expensive area for kids. Sincerely Marina
Hey Phil or anybody with an experience would like your advice on this, am trying to buy a property from a owner willing to sell it to me but he has a lien on real estate and also he filed bankruptcy like 6 if not 7 years ago, his 1st house was auctioned on the 18th this month but his 2nd house which am trying to buy i did a title search found out it has a lien due the the judgement, some taxes but no mortgage because the home owner paid off the mortgage couple of years ago. This house will be auctioned due to taxes on March but am trying to get it before March, my concern is on the lien on it, what do you suggest? My goal is to have the house before March tax auction but i only have February and these few January days left, i thought about doing a Quiet title action but looks like it is a 60-90 days process that wont help me beat March timeline. Btw the house is in Indiana just in case you wondering what state due to state laws. THANKS
@@aliendude100 well this comment was back in 2017, missed out of the house but also didn't proceed to do Real estate investing until August 2020 I joined forced with a friend of mine we bought our first deal (duplex) and now we have 16 units under contract on 1 to make it 17 by mid July also flipped 4 houses. At the moment by business partner and I a looking on to scaling our business, getting into a little bit bigger apartment buildings in a form of syndication. We are looking for investors to come in as limited partners, our target market is the MidWest Because we live in northern Indiana. We are connecting with other investors because during this process we have learned real estate is a relationship based business for the most part.
@@fred1521 Evening Fred, really appreciate you spending the time to reply to me a few days ago, I wish I could of gotten to you sooner. Sounds like your readied mindset allowed you to scale your abilities to becoming a successful real estate investor. I’m actually in Canada and a realtor so I’m doing my best to learn and show value to whoever I meet. If there was a book or speaker or a specific task that you thought best helped you in your real estate journey, I would appreciate any advice and run with it :)
@@aliendude100 bigger pockets community and podcasts (bigger pockets rookie episodes) are the best when you try to learn as a beginner then later when you're in the game with some to enough experience depending on your goals you will learn which people you should focus on learning from them. To my situation my business partner and I are switching to multifamily we have figured we should focus on learning from successful multifamily individuals like Robert Martinez etc. So all depends on your goals, plans, vision meaning those will help you figure out which path to stick with and follow.
@@fred1521 super clear instructions Fred, I really appreciate you spending the time to get back to me. I’ll take a look at the bigger pockets podcast and community and figure out who Robert Martinez is. I’ve heard the saying quite often, you gotta find someone to shadow/copy and do everything they did and you’ll get to where you want to. Best of luck Mr. Fred, hope you and your partner have a really good years ahead. Appreciate you,
Although we may not have any availability left in Central Florida, a few pockets still remain, depending on how "Central Florida" is defined. But you woud want to apply to my Apprentice Program here: www.freedommentor.com/apprentice
Any way we can talk directly? I would like more information I tried filling out a contact for but was contacted by a representative. I want to work with you the alpha so I can hit the ground running.
That has become a great screening test over the years. Anyone who must talk with me directly before joining never works out to be a good Apprentice. So consider this request a huge strike on your application :)
Go to the building department for the county that your hotel will be built and study all permits pulled by GCs that built hotels in that county. Now you have a list of contractors to connect with.
I have several Apprentices in OK, and several graduates of my program too. I've made a fortune in that state. You're in one of the best places to be a real estate investor in the world.
I can’t find a SINGLE contractor who will itemize with price each piece of the project let alone separate materials from labor. They say it’s nitpicking :/
I'm about to start a search on a new project and am concerned about that as well. I will say, I'm not an investor. The work I have done is something I have to live with, so I definitely want quality at the best price. I recently replaced the windows in my home. It was a smaller local guy and he did break down the quote, so I know they're out there. BTW, he had great reviews and did a great job. I think great contractors are willing to do this. I hope I can find another great one on my new project!
Ninsa Perez ugh they’re usually not into administrative tasks. You Should keep a running list of items & prices and try to get them to commit to some sort of estimate on time (then multiply by two) and put it together on your own. I’m the same way, Type A...But they are not
I think they're in cahoots with home inspectors too. Buyer's agent get's a commission off the total sales price so that's incentive for them to tell the inspector to miss things. I'm not saying that all agents are dishonest. ALWAYS find your own unbiased inspector. Don't be lazy and get a recommendation from your real estate agent.
This comment is delusional. They are either giving you their best recommendations or they are building in the pain in the ass client fee for the contractor...
Hey Phil, how do I go about entering your Apprentice program and getting a mentor? Can anyone join, or do I need to meet certain requirements? I can afford it, so money is not too much of an issue. Currently I'm in the military, and I'm going to be deployed until June. I'd like to begin working real estate part time shortly after I get back. Thank you.
Phil Pustejovsky Thank you. Unfortunately I'll have to apply in half a year or so, since I'll be out of the country during that time. Hopefully spots will still be open.
I'm the contractor that shows courtesy and respect HOWEVER I am about the job. It all starts with a thorough inspection of the house and property so I'm extremely unlikely to have to say "I found a problem; I need more money" It has happened but it's rare. My bids ALWAYS include all the details, what labor I provide, what materials I use, and what I will charge, and the subs I use and their detailed bids The contract specifies the start date expected completion date, payment terms, who pays for what and who, MOST IMPORTANT things; the bank the budget is held in escrow at, and oh yeah the mechanics lien. When someone hires me for a remodel, I take possession of the house until I'm done. I am the GENERAL CONTRACTOR. Just as the rank implies I am in command. Subs and employees are lower rank not the other way around. I get the job done on time on budget and you pay me or no lien release for you. When all goes well and the job is done then we can be casual. And we can talk about future jobs.
I'm an investor that values my contractors, but I will never allow any contract which includes a lien on my properties. If I don't pay (has never happened), the contractor can then file a lien to prevent a sale or other conditions. Further, all subs will be paid by me at finish of the job and after the inspection by me and the government agency that issued the permit. Then, the GC gets paid.
There is a great difference between contractors who use the Depot for supplies and the contractors who work for the Depot. Mr. P. obviously refers to the former, not the one's who work for the supplier. In either case your friend could have filed a law suit.
That's too bad you disqualify someone for being aggressive. Ive been self employed for 35 years and have yet to come across someone who can out work me.
Every successful real estate investor has a mentor. Get your mentor here: www.freedommentor.com/apprentice
OK Phil. I'll accept some responsibility here. I just watched the 7 things to never say to contractors video and was PISSED at you. You seemed like a typical want everything, but will give nothing kind of a customer. As a high quality contractor, every negative thing that you said in that video grated on my professional pride. And... I hammered on you a bit in my comments.... My apologies - I take back my comments about you picking the wrong kind of contractors.
OK - you hit the nail on the head with this video! These are all great tips for folks to break into the building community and not end up on the wrong side of the tracks. I also loved the parts about being an informed client and also not being a PIA client. Anyway, wanted to apologize for the comments on the other video - you seem like a professional guy who knows what's up. Good on you.
I'm starting to play around in the RE investment field and want to provide a product that is a cut above the laminate floor and quick paint job that most of the homes that I see on the market have as their 'remodeled' look. I'll definitely be looking into more of your vids. Cheers from AK!
Phil is fucking awesome! I’ve used a bunch of his advice and it has worked out great! Would love to meet you sometime!!
Me too. I am looking forward to having a powwow with my favorite RE guru some day.
Attend his upcoming seminar at... just kidding. He doesn't do that.
used to watch you religiously, until I lost my nerve in real estate. imagine my jaw dropping when your ad came on my channel. thank you Phil.
permit cost for panel changeout: $84
delay caused by waiting for power company to disconnect and reconnect: 6 weeks.
totally feeling you on the pulling permits issue
-guy who changed his own service panel
Another enlightening video packed with useful tips for the real world. Thanks.
Gosh, love your videos and advice! Some of this applies to many other professions as well. Especially those who are consultants and freelancers like myself. I write proposal for a living and can often tell if a client will be difficult to work with when they haggle me on prices (difficult to pay) or do NOT communicate their needs. Often times they don't take responsibility.
This is GOLD, Phil! I like your fairness and integrty. I can see why you're very successful. Thanks for sharing the wisdom of your experience.
Very informative; very very relevant. And very well communicated. Thank-you.
Just starting the process. Dude, these videos are gold! Subscribed.
I had a terrible experience with HomeAdvisor they gave me a charlatan who took my money to start a job to buy materials and never came back HomeAdvisor wanted them to show the receipt for their materials and they didn't have it no I do not like HomeAdvisor they actually told me they're just an advertisement agency and they gave me a bad one
Thanks for the "heads-up" in this post
Sorry you had this bad experience. Did you ever get your money back? I kind of feel that a good number of contractors on AL and HA don't have enough business and that's why they need the marketing and advertising, well, there's a reason they don't have enough business, that could be alarming. Like Phil said, a great contractor is too busy to advertize and they don't even need it.
How would you prevent something like this from happening? Sorry to hear that...
What you wrote matches my experience with them. See the separate posting I made on this thread.
been researching and learning real estate investing and after a few months i think i have watched almost all your videos and others. I think i am ready to start practicing
You can do it Aaron!
another great video, you hit every nail on the head
New sub. I love your videos! You're awesome, Phil! Thank you. I'm going to be looking for a GC for a concrete/foundation type work. And to be honest, I am very nervous about getting this done. So many horror stories in my state, NC, that it almost prevents me from trying to move forward. But, thank you for the advice! We do appreciate your videos and content! It makes a huge difference. Thank you!
hello if you are dealing with contractors a lot, this video will help you negotiate good deals. Let me know your thoughts ua-cam.com/video/sCm-ZRGcrTg/v-deo.html
@@goldentalonconstruction7289 Hey, GTC, those were great tips. I appreciate the information. However, my issues have never been with negotiation, as much as they have been with getting a "High-Quality" result. I will PAY ANY contractor for their craftsmanship! To me, that is worth every dime spent. I make a high-quality product, and I expect a contractor to do the same. My name is on my product, as their name is on theirs. And, in NC, dumpy contractors are NOTORIOUS for shutting down one name, and re-opening under another. This happens quite often, here. Because their is a shortage pf contractors in this area of NC, they can get away with doing shoddy work, and no-one can do anything about that, as the damage is already done, and having to un-do a huge mess, is twice as much money. Anyway, you get it. Thank you for the info! I really do appreciate your time! Happy 4th, and stay safe!
@@INFIDEL82AA I understand what you're saying now. Fortunately in NYC area, there is a lot of competition. In order for you to stand out and get the high paying jobs, you have to do a good job. Also there are regulations that allow the city and customers to continuously sue you until losing your license. Once you lose the license, you won't be able to restart a new business under that person's name. Driving down to NC now :)
Great videos with enthusiasm! Every time when I looking for new contractors I come back to your video. My favorite RE channel! Keep up the good work. Mind if I ask where are you located? Definitely want to meet up when pass by next time
Yep. Had a contractor try to mess with me. He showed up when he said he would to look at the job. Told me he would have an estimate for me the next day. Didn't hear back for a week. I thought maybe there had been a miscommunication and approved the job. He said he would have the materials list for me the next day and could begin the job the following week. Didn't hear from him the following day, so I contacted him the day after I was supposed to receive the material list to ask him about it so I could get materials. Didn't hear back from him until the day he was supposed to show up for the job. He texted me a copy of the materials list and said he would be able to start the job later that week. I replied by telling him that when he didn't respond to me the previous week, I believed he had disappeared and decided to go another way. It's a shame. He is one of the few contractors I could even get to return to me with an estimate.
rebecca long sometimes contractors are so busy doing the work. They cannot always produce paperwork when they are knee deep in work.
@@jvhamby5
Dont mean a thing I do business with those that are true to their word.
If you tell me you'll have an estimate tomorrow and I dont hear from you. That is a red flag for me. Ypu should've just told me next week but you didnt. So bye
Curious as to what state you are in. Even if a contractor gets delayed in submitting a quote (it happens), they should at least communicate that fact.
Your honesty is awesome with its passion even though shallow people complain. Experience is where your skin thickness is formed and I can understand how it was birthed. I actually appreciate the pitbull perspective because often times too many people are so willing to take advantage of someone. And your videos and perspectives can help position someone in a position where they can now function in a guarded way and yet stay professional to keep the business relationship in good standing. It's sad that certain people respond better with a direct assertive and pitbull perspective rather than something less because their inner man is not in great shape or condition. Your thick skin really gives a true sense of reality to what you have encountered and I am grateful to witness it because that really reveals to me what is really out there. That helps me to discern how I must approach my endeavors before I begin to not allow anyone to make me their victim of choice. Thank you for the advice and thank you for reminding me of what I have already learned in the real estate industry because I almost forgot and now I have a real sense of direction to start with. P.s. I forgot that certain industries allow felons. Thanks for your FYI, Thank you
I have to get a new roof put on, I vetted two contractors all ready and I don't feel confident at all with either. I like your pointers. Going to put them to use. If you know someone in CT I should look at, hit me up!
Feel you hit it on the head again great discussion about contractor I live here in Florida had some damage from Hurricane Irma now I know what to do thank you
Thank you Phil for such a great lecture.
I'm not even a real estate investor. I watch this guy just because he's entertaining as hell.
David Christie same.
You are amazing!! Lol .......especially with the number 4!!
Great tips, Thanks a lot!
Thank you Phil. Great lecture
Agree 100% ! Thank You Phil!
This guy gives very good advice.
So glad I found your channel thanks to my husband. We are about to buy a land to build our first vacation home. Phil, I've got tons to learn, right? 😉
Watch this video: ua-cam.com/video/phv3i1ZmxNs/v-deo.html
I just watched it. Great!!
Very informative ! Thank you 🙏
Love all of you video, very informative. I appreciate it very much. I am wondering the contractor hired should be licensed GC or handyman. Thanks.
You want both.
Im affraid of contractors and im only 13. I almost rather have some buddys help me if i ever need.
That's a healthy fear.
A Truck Campbell you’re already ahead of the game.
I had a contractor steal some 2x4s that were in my basement to frame their work, and use one of my garbage containers to use for water. When I asked him about it imho said yeah sorry I needed to use it. He never came back to replace them.
But he did leave some tools and some extra bags of cement.... Best believe he never will see those tools again, nor cement. This mindset TOTALLY baffled me.
phil you are precisely what I needed thanks
Glad to hear that!
Just bought both your books Phil and received real estate investing gone bad, today
I seen that video, makes good sence..
Phil, great video! Do you ever hire a GC only? If not, how much do you separate the trades? For example some plumbing companies also do mechanical.
I never hire a GC. My plumber does plumbing. My electrician does electrical. My HVAC guy does HVAC. My roofer does roofing. My concrete guy does concrete. And then my crew does all the other stuff.
That is awesome. How long did it take you to build your own crew? This is something I am very interested in. I am a licensed architect and have a very good understanding of how things should be constructed scheduling wise etc. but, have been having trouble finding the right people because all of my previous connections are too big (commercial building).
Enjoy your videos ty question in state of Florida having a outstanding mortgage can i sell the single property
lease to own or rent to own and where i can i get a copy or sample of a contract format .
Yes, you can.
Happy to have found you
Where are you located?
I’m currently saving money to build my first home from the ground up in Cochise County, Arizona with my own money. Earned from the sweat off my back. I would happily pay you for your time to supervise the construction. Or at the very least perhaps you could recommend someone in that area who could supervise it. I’m just scared to death of being screwed by contractors building my first house. As I don’t know what the heck I’m doing and I admit that
What do you think about the book: The Speed of Trust by Stephen Covey?
Great video!
Hello if you ever needs to hire a contractor, this video will help you negotiate good deals ua-cam.com/video/sCm-ZRGcrT/v-deo.html
Should I start investing if I plan to quit work for one year to finish my degree or should I wait until I complete school?
Start now
Phil Pustejovsky thank you!
Wonderful Littature do good stay with the faith
So Phil I have a Handyman right now and he tells me it will take 2-3 days to complete a job. When the Job is all over he might have spent 2-3 days but not 8 hours per day. Does a day mean 8 hours or just that he is committing 2-3 days for the job? Thanks in advance!
Phil, you mention sometimes hiring unlicensed plumber for a minor job - how about the legality if they get hurt on the job? Do you need to buy some sort of insurance for these purposes?
I am not aware of any insurance that would protect you since most liability components of your property insurance policy exclude contractors. Instead, ONLY hire uninsured contractors on jobs that have 0% chance of getting hurt (such as a cleaner sweeping the floors)
Gotcha, thank you so much for the reply despite your busy schedule. I just started looking into real estate investing. Hoping to work on it part time to supplement our current income. Need to convince my husband, so learning all I can. I love your videos. I can feel your passion coming through. Hoping to one day work with you and your team. I’m in Sanger CA, central CA. How much is your program?
Also, do you have a GC license yourself? Is it a good or bad idea to get one?
Dear Phil,
I greatly appreciate your educational videos about investing in real estate, I have learned so much. I have been in real estate industry for 15 years on snf off now I would like to be an investor. When should I buy a vacation rental property in Lake Lure, North Carolina? Is it better to buy vrprop. On the water, in the mountains with a view? I am going through divorce right now, should I wait till it's final or can I buy property while in a process of divorce. Any information about this would be appreciated. Again. Thank you.
Sincerely
Marina
Wait until the divorce finalizes so that you will be the owner of the property without the soon-to-be-ex-wife having any claim to the property. Next, use that time to study that market by reading the Reviews of every vacation rental listing in Lake Lure area. And look at the pricing too. It will become clear what the sweet spot is, in relation to price versus rental rate versus guest satisfaction. Obviously the best would be a lake view and a mountain view; but let the facts teach you the real story.
Phil, thank you for taking time from your busy schedule and giving me your best answer. You are so nice and personable. Your advice is priceless. I wrote everything down you told me to do and will follow your advice. I am determined and excited. Sincerely, Marina
hey phil it's kenneth wiley could you answer this question i have for you
How do you come up with a fair market value on a bank owned home?
This video explains: ua-cam.com/video/fyvQHiKlh_g/v-deo.html
Phil I was wondering your opinions and experience with turnkey rental properties?
It depends.
You should get on BiggerPockets podcast man
Why?
Why not? Great exposure and you seem like a good fit.
Ibrahim Elzaim i agree it’ll link you in to a already vast network could boost this channel as well
Phill.
I like your videos and I am actually considering getting into real estate as an investor.
I am thinking 4 family houses. What's your opinion, and can you give me an idea of what a realistic percentage monthly cash flow should be from a property after paying the mortgage and expenses.
Where are you located?
Phil Pustejovsky
Western NY Orleans County between Rochester and Buffalo NY
You're in the cash flow capital of the world. You can buy properties below $30,000 and get $900+ per month in rent. There is basically no other place in the United States that has as good of a cap rate as you have.
wow really? 36% cap rate? im across the pond and looking at getting into some real estate investing..best cap rate i can find is 14% and i thought that was good...im better off to convert to american dollars and buy over there....idk how that works as a canadian citizen though
Hi g/d, Contents are great. How much funds a person should have in order to get into Real Estate? Thank you?
Take this free course: courses.freedommentor.com
What’s your take on paying contractors upfront to get started. Most are willing to accept first payment after a certain percent of job is done, but there are some that require 25% down before they start. Do you just skip them and go to another?
I give them an upfront; the amount depends on the job
No one works for free, I am not going to risk my time and material for nothing. I use , a third down, third half way, a third after completion, unless there arespcial circumstances.
Always get a downpayment. Why lay material on a property and then learn you are chasing a ghost to get paid?
What is the youngest age you can be to start real estate investing?
18
Hi Phil Pustejovsky my name is Kenneth have you ever bought a REO could you explain what they require from you before you bought it because i don't know if i can put it on contract to wholesale for a assignment fee to my rehab buyer
Watch this video: ua-cam.com/video/bumaRrhHdVE/v-deo.html
Phil, you mention someone willing to work without pulling permits. You didn't indicate if it's good or bad. I never want a short hassle to become a long one. Thanks for your series. I also want to hear your take on needing architects.
I did that on purpose :)
I don’t do projects that require architects.
Dear Phil,
I have to live in a very expensive area in Charlotte NC, Zip 28277, where my almost ex husband wants our kids to go to school. I currently rent $1000 per month and on the low side, rentals here go up into $2000 or more. South Carolina border is couple miles away where I could purchase a trailer or manufactured home for less $80,000 vs cheapest toenhome in 28277 for $200,000. Could you please make a video on trailers, manufactured mobile homes and is it a good investment, purchase idea. Many people asking and don't know if they are getting themselves in financial trouble here. What is the solution for people like me who must remain in expensive area for kids.
Sincerely
Marina
don't pay 80 k for a trailer and land unless its a decent lot
Marina Lueders invest in a small (Affordable) home in an expensive area.
Great vids, U did not include yelp in your list of sites for reviews. Do u not trust yelp?
Yelp is dying sir....
Tim Penfield I’ve been provided 100% Refunds on services for not leaving bad reviews.
pullin' on a permit is like pullin' on a ...you know...I like what this guy is sayin'
Hey Phil or anybody with an experience would like your advice on this, am trying to buy a property from a owner willing to sell it to me but he has a lien on real estate and also he filed bankruptcy like 6 if not 7 years ago, his 1st house was auctioned on the 18th this month but his 2nd house which am trying to buy i did a title search found out it has a lien due the the judgement, some taxes but no mortgage because the home owner paid off the mortgage couple of years ago. This house will be auctioned due to taxes on March but am trying to get it before March, my concern is on the lien on it, what do you suggest? My goal is to have the house before March tax auction but i only have February and these few January days left, i thought about doing a Quiet title action but looks like it is a 60-90 days process that wont help me beat March timeline. Btw the house is in Indiana just in case you wondering what state due to state laws. THANKS
How did things go Fred?
@@aliendude100 well this comment was back in 2017, missed out of the house but also didn't proceed to do Real estate investing until August 2020 I joined forced with a friend of mine we bought our first deal (duplex) and now we have 16 units under contract on 1 to make it 17 by mid July also flipped 4 houses. At the moment by business partner and I a looking on to scaling our business, getting into a little bit bigger apartment buildings in a form of syndication. We are looking for investors to come in as limited partners, our target market is the MidWest Because we live in northern Indiana. We are connecting with other investors because during this process we have learned real estate is a relationship based business for the most part.
@@fred1521 Evening Fred, really appreciate you spending the time to reply to me a few days ago, I wish I could of gotten to you sooner.
Sounds like your readied mindset allowed you to scale your abilities to becoming a successful real estate investor.
I’m actually in Canada and a realtor so I’m doing my best to learn and show value to whoever I meet.
If there was a book or speaker or a specific task that you thought best helped you in your real estate journey, I would appreciate any advice and run with it :)
@@aliendude100 bigger pockets community and podcasts (bigger pockets rookie episodes) are the best when you try to learn as a beginner then later when you're in the game with some to enough experience depending on your goals you will learn which people you should focus on learning from them. To my situation my business partner and I are switching to multifamily we have figured we should focus on learning from successful multifamily individuals like Robert Martinez etc. So all depends on your goals, plans, vision meaning those will help you figure out which path to stick with and follow.
@@fred1521 super clear instructions Fred, I really appreciate you spending the time to get back to me.
I’ll take a look at the bigger pockets podcast and community and figure out who Robert Martinez is.
I’ve heard the saying quite often, you gotta find someone to shadow/copy and do everything they did and you’ll get to where you want to.
Best of luck Mr. Fred, hope you and your partner have a really good years ahead.
Appreciate you,
Subbed.
Hey Phil how can I get in contact with to you I live here in central Florida and am working on getting in the business
Although we may not have any availability left in Central Florida, a few pockets still remain, depending on how "Central Florida" is defined. But you woud want to apply to my Apprentice Program here: www.freedommentor.com/apprentice
Any way we can talk directly? I would like more information I tried filling out a contact for but was contacted by a representative. I want to work with you the alpha so I can hit the ground running.
That has become a great screening test over the years. Anyone who must talk with me directly before joining never works out to be a good Apprentice. So consider this request a huge strike on your application :)
Phil, I'm an investor wanting to build a hotel in Tn, how can I find a GC to oversee the GC?
Go to the building department for the county that your hotel will be built and study all permits pulled by GCs that built hotels in that county. Now you have a list of contractors to connect with.
Do I need a real estate license to be a real estate investor?
No. Watch this video: ua-cam.com/video/7vS9basu8uc/v-deo.html
Tony Allen o. The two aren’t even related.
i am building my first time ,the ace in the hole i have is my brother in law,he is a contractor
Phil come to Oklahoma help me get some deals done
I have several Apprentices in OK, and several graduates of my program too. I've made a fortune in that state. You're in one of the best places to be a real estate investor in the world.
Yup
I can’t find a SINGLE contractor who will itemize with price each piece of the project let alone separate materials from labor. They say it’s nitpicking :/
I'm about to start a search on a new project and am concerned about that as well.
I will say, I'm not an investor. The work I have done is something I have to live with, so I definitely want quality at the best price. I recently replaced the windows in my home. It was a smaller local guy and he did break down the quote, so I know they're out there. BTW, he had great reviews and did a great job. I think great contractors are willing to do this. I hope I can find another great one on my new project!
Ninsa Perez ugh they’re usually not into administrative tasks. You Should keep a running list of items & prices and try to get them to commit to some sort of estimate on time (then multiply by two) and put it together on your own. I’m the same way, Type A...But they are not
Any videos on hire contractors for 203k
Same principals as this video but certainly you will only want to consider those contractors who have already done 203k deals.
No Craigslist??? Lol
I have found real estate agents usually recommend the highest cost contractors. I guess they get a kickback off it.
I think they're in cahoots with home inspectors too. Buyer's agent get's a commission off the total sales price so that's incentive for them to tell the inspector to miss things. I'm not saying that all agents are dishonest. ALWAYS find your own unbiased inspector. Don't be lazy and get a recommendation from your real estate agent.
This comment is delusional. They are either giving you their best recommendations or they are building in the pain in the ass client fee for the contractor...
@@dannydaw59 I can definitely agree with your post. Get your own inspector!
Hey Phil, how do I go about entering your Apprentice program and getting a mentor? Can anyone join, or do I need to meet certain requirements? I can afford it, so money is not too much of an issue. Currently I'm in the military, and I'm going to be deployed until June. I'd like to begin working real estate part time shortly after I get back. Thank you.
Apply here: www.freedommentor.com/apprentice Our team can go through all the details and answer your questions.
Phil Pustejovsky
Thank you. Unfortunately I'll have to apply in half a year or so, since I'll be out of the country during that time. Hopefully spots will still be open.
Try to Relax litle bit mate this vidio it is good but the other one with 7 thinks really piss me off any way looks like you understand this industry
I'm the contractor that shows courtesy and respect HOWEVER I am about the job. It all starts with a thorough inspection of the house and property so I'm extremely unlikely to have to say "I found a problem; I need more money" It has happened but it's rare.
My bids ALWAYS include all the details, what labor I provide, what materials I use, and what I will charge, and the subs I use and their detailed bids The contract specifies the start date expected completion date, payment terms, who pays for what and who, MOST IMPORTANT things; the bank the budget is held in escrow at, and oh yeah the mechanics lien.
When someone hires me for a remodel, I take possession of the house until I'm done. I am the GENERAL CONTRACTOR. Just as the rank implies I am in command. Subs and employees are lower rank not the other way around.
I get the job done on time on budget and you pay me or no lien release for you. When all goes well and the job is done then we can be casual. And we can talk about future jobs.
What does that mean to take a possession on the house until you're paid?
if the full budget is in escrow with contract there should be no need for a lien.
Bob Is The Builder Would you happen to know a contractor with you mindset in Portland area?
I'm an investor that values my contractors, but I will never allow any contract which includes a lien on my properties. If I don't pay (has never happened), the contractor can then file a lien to prevent a sale or other conditions. Further, all subs will be paid by me at finish of the job and after the inspection by me and the government agency that issued the permit. Then, the GC gets paid.
Maybe Zero,haha.
Phil
The suppliers who accept credit cards must have the cost built-in the prices. NO?
Absolutely. But they don't offer a discount for paying cash so I pay with credit cards.
I'll still watch your videos and make use of them. Let me know if you change your opinion.
Haha!
Home depot contractors butchered my friend's house.
There is a great difference between contractors who use the Depot for supplies and the contractors who work for the Depot. Mr. P. obviously refers to the former, not the one's who work for the supplier. In either case your friend could have filed a law suit.
That's too bad you disqualify someone for being aggressive. Ive been self employed for 35 years and have yet to come across someone who can out work me.
Hard work alone is not a key ingredient in economic success. Billions of people work hard out there and are flat broke.
Bob Is The Builder working smarter is better than working harder
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