All Forum Posts by: Nhi Nguyen

Greetings to everyone.  Hope we're all heading to a great weekends.

As some of you probably know, I started a follow-along-my-flip post for local beginners here.

This one meant to be a branched off post for them, and anyone else interested, to follow along.  

Some quick notes:

- Since these flips are meant to be for practice, I won't be posting numbers or plans ahead.  :)

- I'm not really aggressive on profit margin.

---------------------------

Here it goes.

This project is a SFH

- ~1882 sqft  3/2.5 with 400sqft detached garage.  Front garage was converted to family room w/o known permit

- Lot size is 15,000 sqft (75x200)

- built 1952, rough conditions inside out.

- Listed at $499,990.00

- Purchase price & plan of actions will be followed in the next post. 

Here are some photos.  More inside photos will be uploaded later.  

Are those Imported cabinets or semi/custom?  Looks great. 

Just saw it in my email. 

https://www.realtor.com/news/trends/housing-trends-2018/?identityID=59b552cc0a57fb48f703cb18&MID=2017_1201_WeeklyNL&RID=4520299122&cid=eml-2017-1201-WeeklyNL-blog_1_housingtrends2018-blogs_trends

welcome to the site @Viktor Bokun

I would try to come up with a catchy/descriptive title so others know what’s your posts are about without having clicking on it. 

Including good keywords in your posts help as well. 

Have fun at the site. 

Finally, welcome email just got sent.  :)  

If you're local, beginners, signed up but didn't get an email from me, please PM me your contact info (email address & phone number).

After our first meeting this Saturday, I'll create separate posts for each of the flips so everyone can follow along the progress (with photos).

Thanks again.

I have 2 types of customers who promise to give me bonus up front:

+ Flippers:

- My price is already more than average.  But if I can beat their time frame expectation, AND still keep or exceed high quality, there's a bonus.  Being a flipper myself, I do see huge value in completing projects on time with plan while keeping quality high.  So it makes perfect sense to incentivize contractors. 

+ Main contractors:

- They also stress on two points: speed and quality.  If I can beat their schedule and keep their customers happy (with great quality of course, keeping job sites clean, great communication with customers, etc...)

In any case, I think finding a great/reliable contractor is very tough.  Keeping them is even harder.  Tipping them for doing great jobs on time not only to reward & tell them you value high quality and speed, it also helps when comes time they are thinking about jumping ship with other investors.

Hello @Whitney McClary

Thanks for your interest.  This is a local hand-on event at the job site for beginners.  It seems like you're in NY.   It'd take me a while (if at all possible) to be able to fly you guys here  :)

I structure my own payment schedule and have my clients agreed & signed before start work too.  But of course I make them "fair" for both sides. 

Mostly, after the first small down payment, subsequent payments are based on milestones of task completions.  Done demolition, passing rough electrical inspection, finish tile work, etc...  That way, both clients and contractors are happy and it drives the momentum.  

One of a bigger contractors who I am a sub for pays out every Tues & Thurs if you send a bill a day before for the agreed upon amount, which is also milestone completion driven.

Hello everyone.  Hope you have a great Monday after Thanksgiving without ... spending a lot on Cyber Monday shopping.  :).  This year I didn't spend anything, saving up for the flips.  Haha.

I'm composing the list of those interested right now and will email out details in a day or two.  In the meantime, if you don't have your contact info (phone & email address) listed in your profile, please PM them to me.  If not, I'll go through and PM to ask.  Won't use it for any other purposes so please rest assure.  :) 

I'm pretty exciting to get started on these projects and looking forward to seeing everyone soon.