All Forum Posts by: Brady Lucero

Very interesting...
Never thought of overseeing others projects for extra income.
That's a great idea.
I have a decent resume to pitch.
Would need to find the proper people to pitch it to and figure out how to pitch it...

As of now my plan of attack is to build up a sufficient savings to quit my current job as a Carpenter and support multiple flips/year. I'll be able to afford doing two projects at a time from here on out so my final day working for the man is coming.....

I like to imagine my potential when I can utilize the 2000 hours/year I give to the man (for JACK) and invest them into my personal business.

I will consider your advise and possibly make amendments to my business plan.

Thanks Keith

It's a great looking floor but high maintenance. It needs to be re-top coated every two years if traffic is high.

I'll give ya a quick rundown of the steps:

Step 1:
You'll need to purchase your concrete overlay product. ( many out there ) My brand was bella vernichi. I also had to purchase fiberglass tape, serico and HardiBacker since I was installing over plywood subfloor. Also had to purchase reinforcer for mixing, primer for bonding the concrete to the backer, the color stain I wanted, a sprayer and a suitable top coat.

Step 2: (Only for wood subfloor)
Install HardiBacker, tape seems with fiberglass tape, serico all seams. 3 coats and sand.

Step 3:
Paint a coat of primer over everything and when tacky to the touch:
Mix concrete with reinforcer and trowel on roughly an 1/8" thick everywhere. I was very inconstant with my trowel pattern to give a rock look.

Step 4:
After drying overnight
-Hydrate-use sprayer and soak everything with water then
Immediately after
-Stain-use sprayer
Repeat if darker tone is desired

Step 5:
After drying overnight
Apply top coat with a paint roller
15 minuets in between coats
3 coats
Let dry over night (BAD FUMES so don't stay in house long)

The whole project wasn't that bad...even a little fun. The only part that sucked was having to put 60 big screwes or so in every single piece of hardibacker.

Your Done! Until 2 years....
These floors are also very easy to repair if damaged.

If you decide to try it I can help you with any questions you might have.

Thanks Keith,
I never count my personal time put into my projects as repair costs. I figure this time is worth its weight in gold and also to be my most important key to success.

My best estimate is around 340 total hours for repairs.

Thanks David and Tina!

I'll have extensive before and afters of every project.
Fun to do.

Thanks Brandon!
Our market is stable and my wife/Realtor expects 60-90 days.
I had to juggle a full-time job but about 90% of the project took 2-1/2 months of 3-4 hour week days and 8+ hour weekends. The last 10% I've been working on the last two years.

This week I'm building a stained concrete patio with a black stained pergola out back...last project

Can't wait to do it all over again soon!
I must be crazy...

Well, it's about a rap with my latest two year "live in" flip. Did 100% of the work myself. She will be going on the market in a couple weeks. Here's the before and afters!

Purchase Price: $102,000
Repairs: $20,000
Asking Price: $169,000

The kitchen had to to be added onto about two feet into the garage otherwise you couldn't get by the fridge to go out to the garage...

Buying my first home at 21 was the best move I've ever made.
Four short years later, I'm moving into my third home with nearly $100,000 in the bank all thanks to two live in flips. This is all extra income on top of my full -time job. There is some serious potential in this business. Can't wait to accumulate that bankroll I need to flip full-time...
A few rules I abide by:
-Buy the worst looking house in the best neighborhood with a solid foundation.
-Get a thorough inspection
-Keep to a strict budget
-Do most the work yourself (I went through a four year Carpenter Apprenticeship program but you may already posses the skills if you've been helping your Dad for a while)

Good luck to you.
There's nothing like cashing that first big fat check after a successful flip!

Thanks everyone. I never realized there was a forum this great for real estate investing!

The floors are an 1/8 inch thick bella vernici concrete overlay, stained and top coated. The manufacture guaranteed me as long as I put down HardiBacker there would be no problem putting this overlay on a plywood subfloor. I've had to completely re-do the bathroom floor and repair a few cracks in the kitchen. I would never recommend using this product on a wood subfloor.

So including a progressive federal tax, a fixed state and a fixed self employment on $90,000 I come up with $32,150 in taxes. Would still pull in $57,850....

Now...

When you include wright offs for all the things self employed house flippers can wright off can I figure on getting some of that $32,150 in taxes back?

That's a great point. I'll be asking my accountant about this.