All Forum Posts by: Don Hines

I didn't go to the summit. But, I can't beleave it has been six months either.
First we found a great deal on a new home last May. Rehab should finish up in another month.
Gained tempoary custody of two grand kids a couple of weeks later.
Buried my sister in June.
Made a few trips between Houston and Little Rock checking on my parents.
Gained permanant guardianship of the G kids a couple of weeks ago.
Moved my parents in last week.
accepted a contract on my current home today. I have 6 weeks to get the new house in order.
In the past 3 months, we have gone from 2 to 6 in my house. Some entering puberty; some exiting puberty; some way past it.
don

Ryan M.
Sorry I missed your question last June; on my birthday btw. I thought this guys spray granite looked more like splatter paint on his demo chips. I chose not to do that. But I did let him redo a bathtub and surround for about $300.
Don

Mitch Kronowit
I tend to show up in my paint stained jeans and newest and best Fruit of the Loom t shirt. The wholesalers will mob that attire too.
Don

I have always used a flat fee service on my "normal" flips. However, I have my own home on the market now which is about $150k over my flip price range. I have found the traffic to be more like "tire kickers" and may not be as serious as those looking at the flips. So, I have hired the agent that sold me my last project who impressed me very much. I simply don't have the time to be an investor, work a full time job, and be an agent as well any longer. So far, I am please with the progress; even though I have my flips under contract in the same length of time.
Don

I was not a fan of appraisals before my last flip. I took FNMA's word on square footage and it cost me about $10k (just for one reason). I hired an appraiser on my current project; for a current value and an ARV. It just gave me some peace of mind that I was getting a good deal. And since I hired and paid for it, there were no "secrets" like when the bank pays for it.
Don't get this confused with an inspection. Appraisals and inspections are two different criteria. After missing some foundation issues, I may become a fan of hiring inspectors too.
Don

K. Marie Poe gave the best advice you can receive. You may lose a tennant. But, you cannot get that involved with their business and mind your's too.
Don

Scott G
I have just learned my lesson about the"hammer" too on a '77 model bathroom tile floor laid over 2 to 3 inches of mortor. Mi amigo will finish the job for me.
Don

Shaun Vembutty
I am wondering exactly what you mean by "involved"?
I am at a turning point from DYI everything to trusting contractors. It is really difficult for me to turn loose of swinging the hammer and laying the floors my self. I really enjoy doing it. But, to meet the goals I have for the rest of my days, I will never make it with a hammer in my hand. So, my business model is changing dramatiacally from a DYIer to a "buyer, rehabber, and seller". I will not target as much profit. But, I haven't met my profit goals anyway in the last 2 years per project.
Time for me to learn how to point for a while.
Don

I am not actively looking for a flip right now. But, once i resume, I plan to offer about 5% more on purchase and will settle for a target of $15k rather than $20k in the resale range of $100 to $130k. I think in order to compete with OO's and people that just plain ole don't know, I will have to settle for a little less than I have been aiming for. I am going for the volume route rather than the "grand slam".
Don

Hey Will Barnard
I just learned how to post pictures painlessly on a fishing sight I visit. It almost makes life complete. I have posted pics on BP before. I don't remember a "thang" about how I did it. Life will be complete when I do.
BTW
I had the same question Steve Babiak did while reading this thread.
Don