All Forum Posts by: Shari Posey

Hello All!

I just want to give a little friendly professional advice from a Realtor to certain flippers...

Every week I look at flips that are sitting on the market and in southern California if anything has been on the market more than 2 weeks it ain't going to sell for the price you have it listed at. Here is what I see as most flippers' biggest mistakes:

1. Know the neighborhood and what buyers expect. Before you choose your cabinets, appliances, style, etc. look at some other homes sold. I can't tell you how many times I go into a nicer area and I'm finding really cheap carpet, fiberglass tub enclosures, no dishwasher, stock cabinets, etc. These really cheap-looking remodels are fine in lower-income areas but not when you are trying to get top dollar in a moderate-high priced area. Buyers do not want to have to go in and remodel your cheap remodel. As someone who has done home remodeling, it really doesn't cost that much more to step it up a notch or two.

2. Be picky about your contractor's work. Buyers can see shoddy work from the curb. Be as picky about the standard of their work as you would with your own home.

3. Clean up after your contractors. Contractors don't clean up and you've got a new listing you just paid money to remodel and there's dust throughout the house, garbage in the yard, etc. Pay a housekeeper to clean the house up periodically.

4. Don't go with an ultra modern style. I guess there are some markets (Hollywood?) where black, gray and white are the in colors but in most family-oriented neighborhoods buyers tend to like warmer tones.

In my market we have a couple of flippers who do outstanding jobs and I know in advance my buyers will like their properties. But honestly, the majority are not that way and they seem to be getting worse--maybe as the margins are shrinking.

Just a few tips that will appeal more to my buyers at least :)

Getting a new wood door is about $700, trimmed to fit and installed. A security door is $400 for the door and installed, so think I'm going that route. I don't have time to look for a used door.

I'm also going to suggest she can get ADT or install wireless window alarms at her own expense.

I think what bothers me most is we just got an expensive custom screen door last year and the fact that I agree with Jon K. that she shouldn't have gotten involved in the first place. This will be a purely psychological fix and I have the feeling it will only be temporary...

I wish board members were paid! They are voluntary but the HOA may pay a management company to handle many of the functions. Actually, these fees can be quite high but hardly any members want to get saddled with ongoing management tasks.

The move-in move-out fees are just revenue for the assocation.

Yeah, I'm going to go to Lowe's today and check out solid wood door options. I think it's easiest to trim the sides and bottom to fit the unusual door size. It will be the least costly and we can match the style of the home.

K. Marie--I initially thought about replacing it with a new solid-wood door while I was talking to her because she said she's uncomfortable about having just a pane of glass between her and a threat. But then I thought about the fact that there are a dozen windows that are easily accessible to climb into if someone wants to get in there. Plus, there is a locking metal door (just a small lock but it would be somewhat of a deterrant) infront of the glass door.

Of course no door will keep anyone out if you open it to see what all the noice is about.

I lived in a different area (better) and two teens got into a horrible fight in the church parking lot next to us. I did the exact same thing--I shouted at them to break it up and they threatened me and I called 911. The entire time, my husband is yelling at me to stay inside and mind my own business. It's one of the negative aspects of living in a city.

Thanks for all your advice!

The house was built in 1924. The front and side doors are old-fashioned 8-pane glass doors. I do have a custom metal screen door on the front, which does lock but it's not a security door. All doors have deadbolts.

The neigbhorhood is o.k. but the surrounding neighborhood isn't very good. I always explain this to prospective tenants. We lived in the house for several years and out of 12 years of ownership only this and one other incident has happened. Three of the direct neighbors have all been in their homes more than 30 years so I think I will tell her to reach out to them and get to know them a little better--it's a very friendly pocket neighborhood.

This tenant moved from a much better area so I was very insistent that she drive around the area and get to know it before she moved in.

I will suggest the ADT because I think it will provide the highest level of security including the doors and windows. I will offer to pay for the installation as it can be used by future tenants and she can pay the monthly fee. (I need to look into the terms of usage.) I will also suggest they do not open the doors and confront the problem even if it is as a good samaritan.

We have a young single woman who is a tenant in one of our properties who moved in fall 2012. She's a nice tenant and responsible. There was an incident a few nights ago when a big fight broke out on the street in front of the house and in the area. She says her boyfriend opened the door to see if everyone was o.k. and they got threatened. She called 911 but the police just drove by without stopping. (I called the police dept to complain but they have no record of her 911 call and no other neighbhors called. However, I talked to one of the neighbors and they said it was a very loud fight caused by some young people drinking.)

Now she is very nervous and is having a hard time sleeping at night and has asked us to implement some security measures.

I'm not sure what to do as she hasn't lived there long and I'm not sure she is likely to stay no matter what we do. Before she signed the lease, we let her know it is an urban area where incidents do happen. 99% of the time it's very quiet and lots of original owners live there but she experienced that 1% when there is trouble on Friday.

We can install security doors but we have 3 specially sized doors so the cost will be about $800 each. Or we can install an ADT system for about $200 and ask her to pay the monthly fee of $50, or help her pay a portion of it. Or we can ask her if she would prefer to be let out of her lease.

I hesitate to put the security doors on, not only because of the cost but because they are really ugly and our property is really charming. About half the people in the neighborhood have security doors so maybe it's just my own personal dislike of feeling like it's like living in a prison to keep people out.

Any advice? What would you do?

Thanks!

And the short sale lender is reducing the price based on your home inspection findings??

I've never resealed my granite counters even though I know people say you should. (I've never had a problem.) This owner had to reseal quite often and they actually did stain from food so they had to be restained and then resealed.

I've never met a single buyer that preferred concrete or tile counters.

I sold a house with them and most of the buyers thought they were cool but weird. Around here, granite is the standard.

The sellers put them in and in hindsight they wouldn't do it again. They weren't cheaper than granite and they required more maintenance than they expected.