Last week Wednesday was my monthly dinner with Damon. I asked him whether the work in his Vacancy Bank property was finally done, and he said no. After the good contractors did all the big renovations, his cousin is doing the painting while he does the trim. I… I lost it.
Doing the trim? Doing the trim??!! This motherfucker has a hectic insurance job that has him working 10-12 hours a day, on 6 projects at the same time. And he thinks he’ll have time to paint trim?! I told him a while ago that he doesn’t have the time to do any of the work himself, so just farm out all the work to contractors. Think I'm making it up? Here's an excerpt from May 2015's Dinner with Damon:
"As far as doing the work himself, I reminded him that he has a hectic schedule as is, and the chances of him doing it right and in a year’s time without a dip in quality at his bread and butter job is unrealistic. Damon said that he would really like to work on a project like this himself. I agreed with him that he should do that, but only when he has the time to do so. He’s got a tough job that takes him out of the city most of the time and makes him good money. I recommended that he get a reliable contractor to do the job. In the time it would take him to do it himself, the place could be rented out and he could recoup whatever the repairs cost in 12 months."
I can understand hiring the cousin to paint to avoid paying the contractor’s higher price, but why not have the cousin paint the trim as well? What’s the deal with this guy purposely putting obstacles in his own way?! I really didn’t want to get pissed off but I had no choice. What the hell is the point of these dinners if he’s gonna ignore sound advice over and over again?! So I went off on him about these points, and he had no response except to nod his head in shame. I told him to give the cousin an extra $50 to do the trim and focus on his own goddamned job. If he does this “I-can-make-these-repairs-even-though-I-don’t-have-the-time” bullshit again, these dinners are over. There would be no point if we go through the same BS over and over again. He agreed.
The conversation turned to me, and I once again spoke of my frustration in finding the right property. It had gotten to the point where I was actually considering going through the rigorous process of Vacancy Bank properties. Damon said that the process isn’t as bad as I thought, and that VB works with a bank that does 90% LTV refinances once the work is close to finished, exclusively for VB properties. That’s right. Even though the work isn’t completed, Damon is already in the process of refinancing. And he won’t have to shop around and file different applications at every bank on the planet. That’s a pretty cool perk if you ask me. Maybe I’ll consider it if I get desperate enough, but I’d rather not deal with their crappy rules and regulations if I don’t have to.
By the next dinner, Damon’s VB property should be finished. I’m really looking forward to seeing the final result, as well as how much his property will appraise for.
P.S.: I used to be able to eat three plates of food at the buffet, but now it’s down to two. I like that.
Doing the trim? Doing the trim??!! This motherfucker has a hectic insurance job that has him working 10-12 hours a day, on 6 projects at the same time. And he thinks he’ll have time to paint trim?! I told him a while ago that he doesn’t have the time to do any of the work himself, so just farm out all the work to contractors. Think I'm making it up? Here's an excerpt from May 2015's Dinner with Damon:
"As far as doing the work himself, I reminded him that he has a hectic schedule as is, and the chances of him doing it right and in a year’s time without a dip in quality at his bread and butter job is unrealistic. Damon said that he would really like to work on a project like this himself. I agreed with him that he should do that, but only when he has the time to do so. He’s got a tough job that takes him out of the city most of the time and makes him good money. I recommended that he get a reliable contractor to do the job. In the time it would take him to do it himself, the place could be rented out and he could recoup whatever the repairs cost in 12 months."
I can understand hiring the cousin to paint to avoid paying the contractor’s higher price, but why not have the cousin paint the trim as well? What’s the deal with this guy purposely putting obstacles in his own way?! I really didn’t want to get pissed off but I had no choice. What the hell is the point of these dinners if he’s gonna ignore sound advice over and over again?! So I went off on him about these points, and he had no response except to nod his head in shame. I told him to give the cousin an extra $50 to do the trim and focus on his own goddamned job. If he does this “I-can-make-these-repairs-even-though-I-don’t-have-the-time” bullshit again, these dinners are over. There would be no point if we go through the same BS over and over again. He agreed.
The conversation turned to me, and I once again spoke of my frustration in finding the right property. It had gotten to the point where I was actually considering going through the rigorous process of Vacancy Bank properties. Damon said that the process isn’t as bad as I thought, and that VB works with a bank that does 90% LTV refinances once the work is close to finished, exclusively for VB properties. That’s right. Even though the work isn’t completed, Damon is already in the process of refinancing. And he won’t have to shop around and file different applications at every bank on the planet. That’s a pretty cool perk if you ask me. Maybe I’ll consider it if I get desperate enough, but I’d rather not deal with their crappy rules and regulations if I don’t have to.
By the next dinner, Damon’s VB property should be finished. I’m really looking forward to seeing the final result, as well as how much his property will appraise for.
P.S.: I used to be able to eat three plates of food at the buffet, but now it’s down to two. I like that.
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