Partner packs it in
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Partner packs it in (by NE [PA]) Sep 2, 2024 1:35 PM
       Partner packs it in (by mapleaf18 [NY]) Sep 2, 2024 2:09 PM
       Partner packs it in (by MC [PA]) Sep 2, 2024 2:13 PM
       Partner packs it in (by MikeA [TX]) Sep 2, 2024 2:20 PM
       Partner packs it in (by Richard [MI]) Sep 2, 2024 2:22 PM
       Partner packs it in (by 6x6 [TN]) Sep 2, 2024 2:37 PM
       Partner packs it in (by Pat [VA]) Sep 2, 2024 6:28 PM
       Partner packs it in (by Ray-N-Pa [PA]) Sep 2, 2024 6:36 PM
       Partner packs it in (by NE [PA]) Sep 2, 2024 6:39 PM
       Partner packs it in (by Mapleaf18 [NY]) Sep 2, 2024 8:54 PM
       Partner packs it in (by Ken [NY]) Sep 2, 2024 10:15 PM
       Partner packs it in (by Ray-N-Pa [PA]) Sep 3, 2024 4:52 AM
       Partner packs it in (by zero [IN]) Sep 3, 2024 9:30 AM
       Partner packs it in (by WMH [NC]) Sep 3, 2024 9:42 AM
       Partner packs it in (by 6x6 [TN]) Sep 3, 2024 11:50 AM
       Partner packs it in (by Ray-N-Pa [PA]) Sep 5, 2024 10:46 AM


Partner packs it in (by NE [PA]) Posted on: Sep 2, 2024 1:35 PM
Message:

A partner that I’ve been working on and off with for almost 20 years is calling it quits. We have done a ton of houses together. His last couple houses I have been very busy with my own stuff and not able to help him out on. He told me today that he’s pretty sure this last house is his last one. He can’t get any help for day labor anymore hardly and to hire everything out makes it not worthwhile anymore. It’s too bad too, he’s 72 and works harder than most anybody that I know. --174.240.xxx.xxx




Partner packs it in (by mapleaf18 [NY]) Posted on: Sep 2, 2024 2:09 PM
Message:

Yep. It's exhausting to have to hire out because no one wants to work anymore; especially on small jobs. --64.246.xxx.xx




Partner packs it in (by MC [PA]) Posted on: Sep 2, 2024 2:13 PM
Message:

Most of the time you have to babysit someone working as well. Tired of hearing there are no jobs. People just don't want to get thier hands dirty or actually work. --73.230.xxx.xx




Partner packs it in (by MikeA [TX]) Posted on: Sep 2, 2024 2:20 PM
Message:

At 72 he deserves some rest and relaxation. I'm not to that age yet and I'm already scaling back.

He's right about getting day laborers, used to be able to get truckloads of them and now they are harder to find than an honest politician.

--209.205.xxx.xx




Partner packs it in (by Richard [MI]) Posted on: Sep 2, 2024 2:22 PM
Message:

NE, That's too bad. A couple possibilities but I'd bet he's already thought of these.

1.High school kids. There's been some awakening of this generation of high school kids to the fact that a college education is likely not worth it anymore unless they're going to specialize in being a doctor, engineer or something like that. More of them are realizing that going into the trades can be a good option. No robots replacing them (yet).

2.Piece of the action. I've offered a piece of the action to some people who looked promising. Work with me doing a certain number of rehabs and after that number is done, I will buy one and give it to you free and clear in exchange for you helping me do the others. Then you fix it up and either sell it or use it to start your rental business. They work for a discounted reasonable fee while doing the repairs on however many you agree to, maybe 10 or so, and after the last one is done, give them one. The one you give them you likely paid no more for it than the discount in the wages they agreed to, so it really did not cost you more than the higher wages would have been. Plus, you got their help for 10 places. If their wages would have been 10K for each place, they get 5K each and after they are done you give them a 50K place. It evens out. You make the profits on 10 places, less the 50K, and they have a place free and clear that they can fix up and live in or make a nice profit or use as a rental.

Now if you're doing 3 or 4 a year, after about 3 years, they have a free and clear house. This might work well with younger workers just out of high school. Their expenses could be low (no families, etc) and by the time they are 21 or 22, they have a free and clear house. I would have jumped at such a chance when I was 18-21. --172.58.xxx.xxx




Partner packs it in (by 6x6 [TN]) Posted on: Sep 2, 2024 2:37 PM
Message:

Hope he enjoys his retirement. Definitely hard to find good help and that won't break the bank. --76.129.xxx.xx




Partner packs it in (by Pat [VA]) Posted on: Sep 2, 2024 6:28 PM
Message:

Every deal I suggest, DH says no. He's tired. 79 next month.

He says the same thing, we're not able and it's hard to make anything if we have to pay for everything.

Still no bargains here anyway, a torn up doublewide on an acre is 99,000. One nice block house on 2 acres for 89k. I'd like to get it but he says no, oil furnace and a leaky basement! --216.126.xx.xxx




Partner packs it in (by Ray-N-Pa [PA]) Posted on: Sep 2, 2024 6:36 PM
Message:

If he is looking to retire does that mean you can buy him out? If not buy him out do a master lease on his holdings so he can enjoy the spoils of the long haul he has had. --24.101.xxx.xxx




Partner packs it in (by NE [PA]) Posted on: Sep 2, 2024 6:39 PM
Message:

He was mainly a flipper Ray. I didn’t partner on rentals with him, just on flips. I’ll take investors on rentals, but I won’t do partners. --24.152.xxx.xx




Partner packs it in (by Mapleaf18 [NY]) Posted on: Sep 2, 2024 8:54 PM
Message:

Husband hired a youngster earlier this year shortly after school let out. It was a particularly warm day since summer had an early onset this year. Job was to remove demolition materials into dump truck. Kid kept remarking that he hated to sweat, he looked miserable and would stop working whenever husband stopped to use the phone.

Paid him and never heard from him again as he made up some excuse about going to his dad's house for the summer. --64.246.xxx.xx




Partner packs it in (by Ken [NY]) Posted on: Sep 2, 2024 10:15 PM
Message:

I have 4 good guys working currently,not sure why i am finding guys and many cant.I would like to figure it out so i can concentrate my efforts on finding more.I havent done any of the work in years and cant effictively do it now anyway,my balance is so screwed up i wont go up 2 steps on a step ladder.3 of them have a credit card of mine and never abuse it so there character is good, 2 are homeowners and a third one has been and will be again.I let them come and go as they wish. --74.77.xx.xx




Partner packs it in (by Ray-N-Pa [PA]) Posted on: Sep 3, 2024 4:52 AM
Message:

I remember working with an Amish-man one day a week for about a year and half or so. When he turned 50 he said he wanted to slow down. I asked him what that meant. He said he was not doing any more roofs.

I am closing in on 60 now a days. Had a two man team with me two weeks ago and we got a duplex covered with a new metal roof in a single day. Last week did a metal roof on a 1.5 car garage myself and that took just over 1.25 days.

So this morning I ran up to local city's Amtrak station to pick up that original Amish neighbor of mine.....as I picked him and his wife up at 2:30 AM, I gave him a hard time about wanting to become union on me at age 50.

I ask myself when will I get to that same point. I look at a two story roof differently now a days. I enjoy starting the days early and finishing up early. I like seeing what I got done that day. --24.101.xxx.xxx




Partner packs it in (by zero [IN]) Posted on: Sep 3, 2024 9:30 AM
Message:

Congrats on having someone for so long to work with.

I have had decent people work for me in the past. I have offered them partnerships in flips. I would pay for all materials, they just supplied labor.

Never got any takers. Always too scared to try it I guess. I would pay them by the hour and they were happy enough. None would take the chance to make better money.

Then again they have all moved on. Never have they tried a flip on their own.

I wish that my dad didn't decide to take a little time off. That was maybe six years ago. Now he isn't stable enough to climb a ladder and is too shaky to paint a straight line. He got out of practice and doesn't think he can do anything any more. --107.147.xx.xx




Partner packs it in (by WMH [NC]) Posted on: Sep 3, 2024 9:42 AM
Message:

My husband is 70. He's in better shape than many men half his age, I know because he regularly runs our adult sons into the dust during renovation projects. But we both know a single moment can change things, so the "boys" are stepping up to learn more these days, as their turn at bat is looming.

But we have also off-loaded way more stuff onto contractors. This last reno, we hired a concrete guy to pour the floor, a carpenter to help with the framing and window installation, a roofing and siding company, a plumber, an electrician, an insulation guy, a drywall company and a painter.

DH oversees their work and pitches in on the details, and acts as a GC - but he's off the roof and not hauling drywall anymore. We used to do all of that together, then as I tapped out he did it alone for a few years. Now we'd rather pay than play. --173.28.xx.xxx




Partner packs it in (by 6x6 [TN]) Posted on: Sep 3, 2024 11:50 AM
Message:

A body in motion stays in motion.

We don't quit moving because we get old, we get old because we quit moving.

Keep playing. --76.129.xxx.xx




Partner packs it in (by Ray-N-Pa [PA]) Posted on: Sep 5, 2024 10:46 AM
Message:

Since he is retiring, you lost a helping hand. But you may still have a silent partner. Is his money also retiring or does he like the idea of having a nice steady monthly income guaranteed by real estate? --24.101.xxx.xxx





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