All Forum Posts by: Bill J Fay

Second what @Gabe Waldrep said. The right engineer should also have some recommended and vetted foundation contractors they work with. 

All great points here! I would like to add, NW's marketed reno budgets are very subjective. With this being your 1st deal, make sure you get bid/bids from contractors before you make an offer. 

Absolutely! But, I wouldn't go out of your way for white. If your rental still has decent cabinets, you can always stain or paint a color that works with what you currently have. Depends on the status of your kitchen.

Do not replace your roof if there are no issues. Ask your roofer for a roof certification that you can pass to your buyer. 

I sympathize with you. If you flip enough property, every investor will run into a situation where you go negative. Although, doubling your budget in change orders is quite lofty. Did you use a GC? They should have caught a lot of these issues on the front end. Speaking from experience, it's really enticing to use cheaper contractors when you are getting started, but this can really bite you down the road. I would look at all the different exit strategies to mitigate any more loss. DM if you need to bounce any ideas off.

If it's in good shape, I would not replace it. Get a roof certification from your roofer instead. 

Depends on your ARV, but I have used both Lowe's and Home Depot cabs for lower/mid-tier flips. There are also a few wholesale cabinetry spots that are local to my area that I will use. Ask other flippers or your countertop contractor if they have any recommendations in your area.

This is the golden question. Personally, I don't think specific market is as important as what works in your market. Where are the majority of your buyers? I have found homes that are at or under the median home price in your area is the sweet spot right now with affordability being scarce. 

There are many private lenders found here on BP under the "Build your Team" tab. If you are looking to raise private capital, I would attend REI meet ups and speak to as many investors as possible. BP also has a book on this topic, "Raising Private Capital". 

For your 1st flip, I would recommend a GC to be able to permit, schedule, and be responsible for all subs. Once you get a few under your belt, finding individual subs can save you money, but then it will be your responsibility to pull permits, schedule, and pay accordingly. I have found if you find the right GC, their team of subs know exactly how to renovate a house and their extra fee is worth gold. With that being said, there are some terrible GCs that can be a detriment to your project. Make sure you vet the contractors by verifying their license, get references, and their track record.