All Forum Posts by: Jamie Wooley

Thanks a lot I appreciate the feedback.  I will get my GC's estimate and if it works out make an offer.  If accepted sign the contract and get it inspected.  

Has anyone dealt with leaky roofs and had water damage on the ceilings in your rehabs?  Does this usually involve mold? 

I am looking at my first possible flip purchase.  I can account for all cost except this.  The roof needs to be replaced hence the water damage in most of the rooms on the ceilings.  The homeowner says it has been there for a while, whatever that means.  I am meeting my GC on Monday to give me an estimate for rehab cost (which I have a really good idea already) but they are not really on the up and up when it comes to mold.  I did not see any signs of mold anywhere in the house but I know this does not mean there is not mold there.  Should I get an inspection and find out or should I go forward with the deal.  My thoughts from a little google education is if I find mold I can have my contractor treat it as long as it's not black mold and I should be okay. Again this is my first flip so I really can't afford to walk into some huge cost that is unexpected here.  I am afraid if I get an inspector out they will tack me for all kinds of little stuff, this is a lower end neighborhood $50,000-$85,000 so these homes have a lot going on in them.  I want to do it right but we are not dealing with a high end home here.  Any thoughts?

@Ross K

Thanks so much!  I will try and play around with it.  I am not too tech savy but I should be able to figure it out.  Sounds easy enough!

Well, not to knock females at all.  But I am all girl when it comes to GRASS and know nothing.  I should sign the contract today if all goes well and it will close in about a week as I am all cash.  The house needs light rehab so I would put it on the market in 3-5 weeks hopefully.  So with that time frame I didn't know what would be best.  The homeowner has like 4 dogs in the back and it is solid dirt, bad deal.  The front almost looks the same and the yards surrounding look good which makes the home look even worse curb appeal wise. So I was needing the least expensive but best way to make it look good.

The red door looks great, btw.

Okay, so total newbie here. What program is that?  Super cool!

I am about to sign a contract on a home if all goes as planned and the yard front and back is complete dirt. What do I do? Spend the money on laying sod in November? If not I feel it will look terrible. It is a lower priced home ARV will be around $100,000, but I still feel it won't bring what it needs to without a good yard. Any suggestions?

@Bill G @Justin S

Thank you all so much for the wonderful tutorial.  That really helped explain a lot and gave me some really good information.  I will take that and run with it!

@Sharad M

Thank you very much!  You have been a big help.

@Sharad M & @ Hattie Dizmond

Thank you both very much.  As a new investor I am just trying to learn as much as possible so I don't make costly mistakes in the beginning and I just keep reading the 70% everywhere but it didn't seem very possible with the market I am in now.  What both of you say makes total sense and what I was thinking too.  It helps me a lot to hear it from other investors who have experience.