All Forum Posts by: Leland S.

@Andrew Syrios The neighborhood is not a high end neighborhood by any means. From the outside it looks pretty old, it's a condo community from the 70's and they just painted everything this mild yellow look. Wow, hideous. The comp I'm using for my target has extra 1 bath and 140 sqft that sold for 110k over my purchase. But it had a one level and very open floor plan. 

@Manolo D. We are using a private contractor who is not pulling any permits. What do you mean "register and sell as comps"? Do we need permits for any additions to the house to be "official" on the MLS listing? See my numbers above.

@Account Closed True, the neighbor house put in very basic materials for their rehab, carpets in the bedroom and basic laminate flooring throughout. The issue for me is trying to make my house more open to match up with theirs. So I have some extra demolition work to do. 

@Valerie Hiscoe Thank you for the references. My house is actually in the Nashville area. 

The "bonus room" is a bedroom that was a garage conversion, so it's a bit awkward in that it's on a lowered slab compared to the house by a step. The plan is to have a door in the wall on a landing to the downstairs bath and add a standup shower. 

I am hoping for ARV of 305k on purchase of 205k ish.

Hi, I'm on my first flip and have all these great and expensive ideas. I'm not sure which ideas are worth the money though. For example, I could just refresh the kitchen with all new hardware or I can open up a wall to the dining area, move the sink/stove, move the HVAC and have a nice large open kitchen space for probably another 10k. 

I have the same question for a bathroom. I have 3/1.5 right now but want to expand the downstairs bath to a full bath that attaches to the bonus room down there making the house a 3/2. That would probably be an extra 7k. 

I do have a very recent comp that was actually a flip next door to go by, so I want to get as close to their unit as I can so I can list at the same price, that unit was a 3/2.5 with 140 more sqft and single floor plan, so more open and spacious.

I just did a regular single closing on Saturday with just a notary. The realtor was there to give me the keys. All those folks should be involved in advance to prep the contracts and be reviewed by both parties. Depending on if you're using a financing company each one might want their closing attorney present, that was my backup option to close, using the lenders attorney. 

Hi I'm closing on a house for flip this week. I needed a contractor to estimate the costs of some of the items we plan to do and help us decide which things we'll do ourselves vs what they charge etc. Also we need to estimate the work to finish items that weren't performed in the inspection agreement by the seller so we can ask them to remove that from the sell price.

Any references to people who are timely and will be able to quickly respond would be appreciated! I'd like to have someone out Monday. 

Hi - I'm closing on my first investment in 2 weeks. What type of financial arrangement should I setup to pay for the repair costs? I was planning on getting a zero interest credit card.

My budget is 30k and I intend to put on the market in 3-4mo when done or wait until next spring with my parents renting for that time. 

Appreciate your inputs. 

Hi - I'm under contract to buy a house and the inspector reported mold evidence by a indoor HVAC vent. Not sure how it got there. There was also a leak evident with water damage to a ceiling drywall, but it was dry. 

I'm wondering what should be the basis of hiring a mold inspector and how I should know what level of work it would be to remedy the mold. 

Appreciate your experience.