House Flipper, I Cant Stop Laughing

Patrick

A house flipper asked me to bid some work, he was offended by my price, so I explained to him MY costs of doing business, Here was his reply I cant stop laughing!


"We haven’t ripped any contractors out. The setup for collecting money is in place since we deal with foreclosure liens every other month. We don’t need to collect payroll taxes, only provide him with a receipt similar to a 1099 form, it will be his responsibility to pay taxes etc.

You seem bitter but we are not the guys that rip people off and you are welcome to bid on our jobs. However, we are just trying to compete in the new global economy and the only way to make any profit is to keep costs low. In quite a few cases, us (four partners) do jobs ourselves but we can only do one house at a time so we need more help. Now, look around you, you are probably surrounded by Chinese made products, cheap products without quality controls, lead tainted toys, soft drinks that lead to diabetes. You made the choice to buy these products, even though for more money you can buy American groceries, natural foods etc.

I ask you not to pass judgement on others without seeing it from our point of view. We are all trying to make some money. You by working, us by investing. Neither job is less challenging or noble than the other. Without the cost cutting measures, we are not able to remain competitive.

Speaking from a price point of view, I am attaching an ad from somebody in Craigslist, which would be a contractor in this case.

If you need clean reliable help to help you with your projects give me a call. I have some experience doing handy work. Give me a call and we can talk about if I can help. I have no need to lie and I will return your call. I'm free nights and weekends. I also own a small truck that can be used to pickup materials.

Labor - $15/hr minimum 3/hrs

As you can see the price is an issue $15/hr for an independent contractor vs. $35-48 for an insured contractor.

Thank you

Egon

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Originally Posted by Celtic
Like I said...I'm sure you are very good at what you do ~ whatever that is and where ever it happens.

Celtic

I wasn't aware that house flipping was part of the global economy

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Patrick

I think its cause his name is "Egon"

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Originally Posted by Celtic
Like I said...I'm sure you are very good at what you do ~ whatever that is and where ever it happens.

Brickie

Sounds like ole Flipper needs to call his "Independent Contractor" & stop wasting everyone's time or perhaps he can "save" more money by rounding up some Illegals & hiring them

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KillerToiletSpider

I think thats his way of referring to the illegal aliens that work for him.

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A flush is better than a full house.

NorthstarNC

I just want the contact info for the dude who "owns a small truck". That's pretty desirable. Nothing says "jackleg" like a craigs list ad. Gee wilikerz.

mdshunk

"Without the cost cutting measures, we are not able to remain competitive."

I'd wish him the best of luck with that and move on. Typical of the flipper mentality.

Since when does indpenendent contractor mean uninsured, anyhow?

Patrick

I take offense to that, Heres my Craigslist ad,

Attached Images

 

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Originally Posted by Celtic
Like I said...I'm sure you are very good at what you do ~ whatever that is and where ever it happens.

neolitic

I thought he meant he was hiring a container load of Chinese guys.
Wonder when he looked into Patrick's grocery bag though?

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(Sorry....it seems there really are dumb questions)

troubleseeker

That is probably why he is looking to hire someone else now.. to fix what some of them already f***ed up. And the $ he is trying to hire people for is just proof of the old axiom that some people never learn. Every time I see or hear anything about this latest be a millionaire by house flipping scheme, I think that I have not seen such a collection of know nothing easy money fantasiers attracted to anything since every no skills, unemployabe idiot jumped on the home inspector bandwagon 20 years ago. If it wasn't that this crap gives so many legitimate people in the construction trades more of a bad rap, it would be humorous.

Brickie

Yup & now he's going to have to pay the "Stupid Tax"

__________________
“Ron Paul is one of the outstanding leaders fighting for a stronger national defense. As a former Air Force officer, he knows well the needs of our armed forces, and he always puts them first. We need to keep him fighting for our country.” – Ronald Reagan

JustaFramer

Actually there was a article last month that said European buyers from their windfall profits they made selling their houses are looking to buy in the US because of our declining dollar.

Patrick

Yes, You guys are correct, Here is what he said to me originally

"The house is a rental so we were not expecting perfect work but our last contractor never showed on time. I agree that it is easier to collect damages from an insured and licensed contractor, however we were able to get a civil court judgement against him for the labor, materials + 10% of labor and materials + court costs.
He owns a property and we have a civil court judgment against him and are in the process of collecting money from him by attaching a lien on his property.
There is a small margin when buying tax lien properties, foreclosures and buyers short sales so a contractor who charges a lot of money is out of the question. We learned our lesson and from now on we will hire people on an hourly basis."

He apparently has not learned his lesson though!

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Originally Posted by Celtic
Like I said...I'm sure you are very good at what you do ~ whatever that is and where ever it happens.

Celtic

Does that make the flipping market global?

I dunno?

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Double-A

INVESTMENT is the purchase of real property, stocks, bonds, collectible annuities, mutual fund shares, etc, with the expectation of realizing income or capital gain, or both, in the future. Investment is longer term and usually less risky than speculation.

SPECULATION is the taking of above-average risks to achieve above-average returns, generally during a relatively short period of time. Speculation involves buying something on the basis of its potential selling price rather than on the basis of its actual value.

I think your flipper is confused as to what his real job is.

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"My clients’ wishes are the center of my attention." -- David Guido, a contractor in Woodstock, N.Y.
New York Times, July 20, 2006

wizendwizard

I think all flippers are!!

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There is no such thing as an illegal immigrant, they are either illegal or immigrants.
I'm Retired, or a student, don't really know anymore.

hbiss

I agree that it is easier to collect damages from an insured and licensed contractor, however we were able to get a civil court judgement against him for the labor, materials + 10% of labor and materials + court costs.
He owns a property and we have a civil court judgment against him and are in the process of collecting money from him by attaching a lien on his property.

When they get done with this poor jerk it looks like his house will be their next project.

Sounds to me that you would have a better chance of survival wading through a swamp full of gators than getting mixed up with these shysters.

-Hal

G@PC

If you need clean reliable help to help you with your projects give me a call. I have some experience doing handy work. Give me a call and we can talk about if I can help. I have no need to lie and I will return your call. I'm free nights and weekends. I also own a small truck that can be used to pickup materials.


Had he posted a picture of his small truck I might be sold. Jack A$$

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If you can't fix it with a hammer.....You've got an electrical problem!

kevjob

So are you taking the job?

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Kevin
Basement Finishing Highlands Ranch Colorado
Littleton Colorado, Basement Remodeling
Kitchen Remodeling Denver

Patrick

Maybe, there was just some simple plumbing and electrical work which I could do myself. Any idiot can do electrical or plumbing

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Originally Posted by Celtic
Like I said...I'm sure you are very good at what you do ~ whatever that is and where ever it happens.