All Forum Posts by: Drew Hickok

We have a contract for the house as is on the day the contract was signed. We are also giving the buyer estimates for some items she wants done right away. We may or may not do this work but it all will be after closing and in a remodel contract so that will generate a little more income off the deal. 

We are literally stopping with Hung drywall ... no taping, no mud... just the boards. We added a room and just had the final rough inspections on it and now we are giving her a price for demoing out that room... she has a vision for the house that is nothing like what we were executing so in the end everyone will et what they want. I will make a little less than planned however... the market has changed for this size house in the part of town and my agent forecasted that it would be on the market for 3 to 6 months and would probably sell for a little more than what we contracted for.  

If you don't find one in the condition you want there are companies that can surface it for you . Also... we have purchased modern reproductions off Wayfair and Signiture hardware for retail remodel projects. Check out our Instagram @tradeworksremod 

Thank you all for the insights, stories, perspective, and advice! Between what you have all shared an my agents updated market analysis we are going to try to get in a contract today. I will keep you informed once the dust settles and share more details then. 

Drew Hickok

Should I sell an Unfinished flip ??? OR Should I hold it until finished and sell it on the Open Market? I am about 75% finished and have been approached by a buyer who wants me to stop work and sell to her "as is". She said she would have to confirm with her financial advisor but could close in 20 days or less. Her reason for buying it unfinished is that she wants to be able to take the time to  make selections and changes to her design and goals for the space. It is a Massive house and we are starting drywall in 2 days (Tuesday Feb 26) The house has about 3500 Sq ft of finishes space, and a 2000 sq ft deck, 4 bedrooms and 3.5 baths, 2 car garage, walk about basement, 2 fire places, and sits on top of a hill that allows you to see for about 10 or 12 miles to the hills on the horizon facing the sunset... The work that remains is as Follows:

Drywall, Paint, Rehang doors with new Knobs and hinges, Master Shower tile, 2000 Sq feet of hardwood installed, 600 Fq ft of carpet installed, Install Kitchen cabinets and tops, Install vanities, plumbing finishes, electrical finishes, prose wash and re stain the deck and newly built railings. 

Any insights, wisdom, horror stories, or Victory story are welcome !! Thanks!! 

Ill be honest I haven't read all 3 days worth of replies and Im sure there is a ton of useful information that has answered your question and I will probably repeat ... but Being a contractor... here it is anyway!!!    CONTRACT, CONTRACT, CONTRACT.... if he can't give you a Contract then he's not a real CONTRACTOR! The contract that HE should give you should have the project address, anticipated timeline, detailed scope of work, payment terms, and some legal section about what happens when things don't work out. Im a General contractor, the legal section of my proposal is 8 pages of size 10 font. It spells out all that things from what happens if the dumpster cracks the drive way to what happens if payments are late. IF you want to pursue working with this man you should have him provide a Contractor license number that you can verify with code enforcement, proof of insurance (General liability and Workmans comp), a List of all his subs and THIER insurance certificates. The detailed scope should include mentioning what ISN't Included and what IS included (who pays for the faucet if he just goes and gets one? Who's bringing the tile to the job? ECT...     As a General Contractor    I do not do free estimates because I don't work for free, (Do you?) I do require 35% due at the signing of the contract. Notice I do not get paid until my customer has signed the contract and everyone is bound under an agreement. Then 30% after that upon the start of drywall and upon the start of electrical trim out, the remaining 5% then is due upon the completion the contracted work and signed punch list. Any change orders are due in full before work on them begins and the customer needs to sign off on the cost and the time the change is adding to the project.