All Forum Posts by: Jeremiah F.

I guess I'm either ahead of the game or was left behind along time ago. I had a car payment about 10 years ago, but then I started flipping houses and it changes the way I think about everything.

I got out of a car payment and this is what I did. Bought a $600 Chrysler cirrus 98 ran for 2 years just maintenance, it died, scraped for $150. Bought a 85 Toyota pickup for $500, sold to my ex employee for $400 last year. In between then bought 85 BMW 735I for $1060 and a 89 Ford f250 for $620. Ford is a great work truck and the BMW had 130k miles and a 2" thick folder for all past service record back to 85 when it left the lot (over $38k in preventative maintenance and upgrades over the years, New clutch and trans in last 10,000 miles) I am the second owner and justify this purchase because I like to tinker on cars and I could sell it tomorrow for $3,000 easy. Bought a 86 Audi 4000 for $350 let my brother drive it when he was in the country, and anyone else who needed to borrow it, gave it away to a friend who's son was learning to drive for 16th b day, still runs great. Bought a 01 Chrysler cirrus for $700, gave it to my girl friend she wrecked it, bought a 96 Buick century for $450 3 days ago, gave it to the same girl (my ex now).

I might not be turning heads at stop lights but I take enjoyment in knowing that I have only spent $3,800 to get around the last 10 years. But more importantly, with the Ford and BMW I still own, I could sell both this week and walk away with profit, and a big smile knowing that I got everywhere I needed to go for 10 years for free.

4 Votes

Originally posted by @Corby Goade:

I've dealt with this issue twice. All new carpet, coated all of the walls AND the subfloors with three coats of KILLZ oil based primer. Both houses reeked of KILLZ for about a week, but when that subsided, the smoke smell was gone. Best of luck!

I did the same with KILLZ 2 the latex water based product. I did this to avoid using oil based product in my sprayer, either one will work great.

0 Votes

If you really have a good HML he will run the numbers and not do the deal. lts important to a good HML that you make a good profit. If your not making good money then what's the chances a year from now you will want to keep doing deals for free? It is more important to be substainable than worrying about impressing him. Just my thoughts

0 Votes

I am wondering how much value additional bedrooms add to the house. Of course I understand maintaining legitimate square footage in these bedrooms is necessary. I'm mainly wondering is there a point that I should not cross, or that's the return won't match the invesment.

This is my own personal residence please let me know if any more information is needed to answer my question Thanks

0 Votes

Originally posted by @Linda Weygant:

@Robert Norvell

Please don't take this the wrong way, but are the pictures on the listing you linked actually the AFTER rehab pictures? If so, I'm afraid that either the pictures are pretty terrible (they are anyways - the lighting is awful and the angles are not really ideal) or you really didn't do much to this property. The walls look like they haven't been painted and the floors... what's going on with them? They're very discolored in places. Were they refinished at all?

While the baby blue in the bathroom would not have been my first choice, the color is moot considering that you've got a VERY uneven ceiling line in that bathroom indicating a poor quality job and it looks like the bathtub hasn't been caulked.

The kitchen is also... interesting. The open cabinet design is usually a very modern and sleek look, but the wood that's been used on these looks kinda cheap and it makes the kitchen look more desolate than inviting.

Based on these pictures, I would probably scroll right on by as well, if I were an owner occupant.
At the very least, get some better photos. If you don't have the know how or the equipment to do this yourself, then pay somebody else to do them.
If these are in-progress or "Before" pictures, scrape them off the ad and get some post-rehab pictures up.

If this is the final results of your rehab and I'm not just looking at bad photography, go back and fix the details. Get the ceiling line in that bathroom tightened up and caulk the tub (if indeed that's what I'm seeing). Paint the kitchen and dining room and if you're going to keep the open cabinet look, I'm afraid you're probably going to have to pull the cabinets down to paint the wall and then put them back up. It would be very difficult to pull off a crisp look with the cabinets still up. If you've got the money to refinish the floors, you should do that as well.

I have no idea what this neighborhood would support and I'm not advising that you over remodel, but if the comps you're looking at are sleekly and very nicely remodeled, I'm afraid that, based on the pictures I'm seeing, you've fallen a bit short of that mark with your rehab. That may indicate a need to lower your price, but again, I don't know your market or this neighborhood, so I could be way off base.

Good luck to you and let us know how it ends up!

I have been following this thread a few days, waiting to see the listing before adding my 2 cents.... @Linda Weygant nailed it.

Have you studied your competitors flips? Maybe I'm missing something but if you want the comps you have seen are possible in that neighborhood, your finished product must be comparable. Best of luck

0 Votes

All Forum Posts by: Jeremiah F.

Jeremiah F. has started 1 posts and replied 5 times.

Post: If you were going to drop 5k on a car what would it be?

Post: Good Duplex Short Sale, but REEKS of cigarette smoke!

Post: Busy Street flip

Post: Should i add 2-4 bedrooms before appraisal for Heloc

Post: Stuck in a flip