greg froms

Title Companys...
1) Can You explain the different types of Title Coverage
2) When Will I Receive a copy of the Settlement for closing
3) Can You Provide a Schedule of your Fees
4) How Long Have your company Been In Business? Are You a Local Or National Company? Do You Have a Finanical Rating and if so what is it?
5) How Much time will a closing take
6) What are your Hours for performing a closing and do I have Flexibility in Scheduling a day and time
7) I Often Purchase and resell Property. Can you offer a discount for repeat business?
In Some Cases I purchase and sell property within a matter of a few days. If I Purchase and also sell it within the same day can you do a Simultaneous or back to back closing?
9) Can I get an Email and a Secondary Number to contact with further questions

10) Thank You

1) How Long have you Practiced Real Estate Law within the state?
2) How Many Real Estate cases do you normally handle per year?
3) Can you briefly tell me about some recent real estate issue you have handle?

4) Do you charge a flat fee for reviewing or perparing real estate purchase agreements? If so, what is that fee?

5) For other real estate needs what is your bill structure?
6 ) Who Else in your office would I work with real estate issues and what is there hourly rate?
7) Do you provide free consultations for different scopes of work with real estate?
8 ) Do you provide Itemized billing statements?
9 ) Do you assist LandLords with Evicting Tenants? If so, what is the average time it will take ti evict a tenant and the average cost? Is it a Flat Rate?

10 ) Do you have expertise in reviewing contractor agreements/contact?
11) Do you pursue garishments for any issued landlord judgements against Tenant?

12) Do you specialize in Real estate Law? what other areas of law do you specialize in?
13) Have you assisted other investors with short sales or Foreclosures?
14) Can you provide me with a list of References?(remember Trust but Verify! Also a great way to find other Investors)

15) Also Ask him If He has handle other Double Closing

16) Make sure to get a Email and Secondary Number

ok great...

any body seen the property rehab form??

anyone???

here's the link to Greg Murphy's rehab sheet
https://docs.google.com/viewer?a=v&pid=sites&srcid=ZGVmYXVsdGRvbWFpbnxnc...

If you have the RBBP, Greg breaks down the pricing for rehabs in his 4th call.

Hope this helps...

Andy Sager
DG's AndyS

Unless I missed it, this rehab sheet does not include Kitchen Or bathrooms!!!??? The two most important areas of rehab/remodeling! I must have missed it! NO rehab estimate should be missing kitchen and bathrooms.

Michael Mangham
MD Home Acquisitions LLC

Thanks to all of you who posted. Having these things written down is very helpful.

Your outlines for questions were great and much appreciated!

Meeting with a new real estate oriented attorney tomorrow morning so I'm really glad I found these beforehand.

These are notes from Greg Murphy's 4th call on the RBBP. They may not be perfect, but are close. I hope it helps.

Rehab Estimates

*People understand Simple. Simple makes you Money!
*These are just estimates and are rounded on the high end to keep you safely within budget.
*Budget a little in each house for: paint, plumbing,electrical,flooring, yard, pest control/termite work, HVAC, roof, appliances

1. Flooring Varies by area
1. Carpet $3/sqft
2. Tile $3-5 installed? + $1/sf grout + $1/sf misc.
3. Hardwood
4. Laminate
5. Peel and Stick
6. Bc Tile (commercial tile)

2. Kitchen Cabinets $300 ft installed (Pretty universal)
1. Included: $100 each for top cabinets/bottom cabinets/counter top

3. Kitchen Sink change out $750 (Pretty universal)
1. Sink-$119
2. faucet- $150
3. disposal basket
4. reg. Basket
5. 2 supply lines
6. trought? Grout?
7. Shut off valve

4. Appliances $2500
1. 18 cubit inch fridge (painted metal is good) $600 included above
2. microwave in hood
3. stove
4. dishwasher if applicable

5. Cammode
1. Toilet $150-200 + $100 to install = $350
1. include the this price even if it looks like it may need to be changed out-may just need a new rebuilt kit
2. Fixtures-don't scrimp especially on plumbing fixtures
1. toilets- go brand name : Kohler or American Standard
2. faucets- Delta, Kohler, crise fixture (Pfister?)

6. Bathroom Sink $1100
1. Single or double sink
2. Cabinet
3. supply lines
4. troughts
5. counter top
6. faucets
7. medicine Cabinet or mirror
1. If faucets need replaced, just change everything

7. Tub $2000
1. tub
2. sometimes the surround (fiberglass wrap or tile)
3. faucet - $150 Delta or Kohler
4. Brass drain kit - $40
1. Items-$850-900 + $1100-1200 install (2 men/4-5 hrs easy)
2. Lowes doesn't do this install everywhere, but any descent plumber can do this whole change out with another person in 4-5 hrs

8. Water heater $750-1000 installed - depends on area of the country
1. 40 gal (gas or electric) 4-6 yr warranty
1. use the price of whichever is higher
2. Water pan
3. 2 supply lines
4. shut off valve
1. Just put all in new if replace heater

9. Exterior Front Door $200-300 + $200-300 install + good door lock = $750
1. fiberglass or metal

10. Single Interior Doors $225 installed (pretty standard around country)

11. Double Doors Exterior
1. French or slider
1. Nice vinyl slider installed - $1100
1. Slap door – if frame good you can just buy the door - $65 installed (I got confused on this part)

12. Windows
1. If you buy everything at lowes, you get a discount on windows
2. If just buying windows:
1. window world -$200/window
2. Lowes - $300/window
3. Either change none or all
4. Count windows only if there's enough $ in the budget
5. Fix or paint so don't have to change them all
6. “Mini-blinds go a long way on a window”

13. Electrical
1. Light installed - $125
1. get contractors grade light bulbs – (6/box = $40) or (2/box = $20)
2. Fan installed - $200
1. descent fan- $40-60

*Lowes = great customer service
20-30% discount at Lowes if you use them for multiple installations
ex. Advertised $200/door-You need 5. - $200 for the 1st one/$120 for the next 4

14. Paint $1.50-2.50 X sqft of the house
1. Lowes doesn't paint for you right now

15. Shingles $4.50 X sqft of the house

16. HVAC $4.50 X sqft of the house

17. Front Yard $1.00-2.00 X sqft of the house

thanks

Thank you. As usual I am making a word file for my folder and then saving to my computer files. Thanks again, Tammy

First of all, Thanks for the list! Great job and really appreciated. Have been checking around my area and prices seem to be pretty accurate. If anything, might be a bit on the high side, but that just helps protect you.

I really liked Greg's sessions, very easy to follow and loaded with practical, "Hey! I can use that today" stuff.

What is everyone finding for prices for roofing? Roof-over, complete tearoff, complete tearoff/new sheeting? How about guttering/downspouts? Seems like almost every rehab I run across either needed a roof last year . . . or will before the end of the next couple weeks . . . think it's because they're expensive to replace so when they go bad that's when sellers get motivated?

HINT: Drive around and look for houses with deteriorated roofs, they're almost as good as grown-up yards!

heres a calculator for materials only,
http://www.roofingmaterialscalculator.org/

add labor at $60 sq on and off=$120 sq. steeper pitch cost more,same applies to gutters and height(gutters approx $5-6 lin ft)

$250-$300 sq. roof tear off and replace-to include shingles, 30lb felt,drip edge,etc + hauling.

roofovers not recommended due to weight + snow(if roofover, no more than 2 layers ever)

That roofing materials calculator is AWESOME!

Will give me a very rapid way to see if I'm getting fair estimates from my roofers!

GREAT TOOL!!!