All Forum Posts by: Hugh Ayles

We are finishing a flip right now where we relocated the laundry to the middle of the house.

The room previously had a bathroom so we had water and waste very close by.   It is on a crawl space so I had to run duct under the floor to the exterior for venting the dryer.

Also, since we did not have an operable window, we had to add exhaust.

This was part of an extensive rehab so it did not add much more to our overall efforts.

I find it interesting that the article indicates flipping peaked in 2006.

Back then we could relatively easily buy a foreclosure whereas now they will get 20-40 offers.

I also do not recall all the gurus back then but it could be I just was not looking.

@Lisa Johnson

Who in Austin are you using?

@Bill Gulley

You mention using a money market account.  I was under the impression that you cannot use an interest bearing account for business.

Is an escrow account looked at differently?

With only working 5 hours a week why would you hire an employee?  I also think you would have a very hard time finding someone to work 5 hours a week.

You could get a virtual assistant for the phone calls and then pay someone per transaction instead of paying them as an employee.

Welcome to BP.

I grew up in Centerville but now call Austin, TX home.

@Kyle Stockford

This summer I met a college student who house hacked his student housing.  He found a fixer upper and now has roommates.  So instead of paying rent, he is putting some money in his pocket.  I believe his parents helped with the purchase but he has since refied and paid them back.

Regarding tattoos, who cares?  I have no tattoos.  In my construction company if I had a no tattoo policy, I would have no employees.

I have not had to reject tenants yet, but I imagine the hiring/firing process is similar.

"I chose to go in another direction."

I already filled the position (lease).  Short and simple with very little info is best.

We were working on finishing a flip and missed the first half. 

If you don't have experience estimating costs, you need to hire someone who does.

No app can tell you what needs to be repaired.