All Forum Posts by: Milena Garcia
Milena Garcia has started 1 posts and replied 10 times.
Post: Pros & Cons of Listing Property End of Year
- Posts 10
- Votes 14
I agree with what others have said - while I haven't been doing this as long as some, I've listed flips toward the end of the year for the past two years and successfully sold each time. Good luck!
Post: looking to make my first flip in JAX!
- Posts 10
- Votes 14
Hello Sean,
I am currently flipping in Jax and will be glad to share whatever knowledge I have acquired to others. Please DM any questions/concerns you might have. Good luck!
Post: Current listing with not enough showings
- Posts 10
- Votes 14
Hello @Peter Mckernan,
These tips are very helpful and will definitely use them on future listings. The house is under contract and i hope we close soon. Thanks!
@Cynthia Leite Not sure how to attach a file here so I just sent it that way, let me know if you'd like to have it via email. Hope that helps.
| Client Name: | |||||
| Property Adddress: | |||||
| Current Property Type: | |||||
| Post Rehab Property Type: | |||||
| Level of Finishes: | |||||
| List Structural Changes: | |||||
| Final Bed/Bath Count: | |||||
| Exit Strategy (sell or refinance): | |||||
| PHASE 1: PRE-CONSTRUCTION | Original Amount | Net Adjustments | Adjusted Total | Description | |
| Drawings | $ - | $ - | $ - | ||
| Permits | $ - | $ - | $ - | ||
| Expeditor | $ - | $ - | $ - | ||
| Alarm/Security | $ - | $ - | $ - | ||
| Temporary Fencing | $ - | $ - | $ - | ||
| Portable Toilets | $ - | $ - | $ - | ||
| Engineering Fees | $ - | $ - | $ - | ||
| Architectural Fees | $ - | $ - | $ - | ||
| Utilities | $ - | $ - | $ - | ||
| TOTAL PRE-CONSTRUCTION | $ - | $ - | $ - | ||
| PHASE 2: DEMOLITION | Original Amount | Net Adjustments | Adjusted Total | Description | |
| Interior Demo | |||||
| Exterior Demo | |||||
| Dumpsters | |||||
| TOTAL DEMOLITION | $ - | $ - | $ - | ||
| PHASE 3: CORE AND SHELL | Original Amount | Net Adjustments | Adjusted Total | Description | |
| Excavation | $ - | $ - | $ - | ||
| Foundation | $ - | $ - | $ - | ||
| Underground Plumbing | $ - | $ - | $ - | ||
| Drain Tile | $ - | $ - | $ - | ||
| Sump Pump | $ - | $ - | $ - | ||
| Steel | $ - | $ - | $ - | ||
| Floor Joists | $ - | $ - | $ - | ||
| Subfloor | $ - | $ - | $ - | ||
| Rough Carpentry | $ - | $ - | $ - | ||
| Interior Stairs | $ - | $ - | $ - | ||
| Dormer | $ - | $ - | $ - | ||
| Roof | |||||
| Masonry | |||||
| Siding | |||||
| Windows | |||||
| Exterior Paint | |||||
| Soffit/Fascia | |||||
| Gutters | |||||
| Landscaping | |||||
| Walkways | |||||
| Exterior Doors | $ - | $ - | $ - | ||
| Exterior Stairs | $ - | $ - | $ - | ||
| Porch | $ - | $ - | $ - | ||
| Deck | $ - | $ - | $ - | ||
| Driveway | $ - | $ - | $ - | ||
| Garage | |||||
| TOTAL CORE AND SHELL | $ - | $ - | $ - | ||
| PHASE 4: HVAC | Original Amount | Net Adjustments | Adjusted Total | Description | |
| HVAC Rough | |||||
| Furnace | |||||
| Condensing Unit & Lineset | $ - | $ - | $ - | ||
| HVAC Trim | $ - | $ - | $ - | ||
| TOTAL HVAC | $ - | $ - | $ - | ||
| PHASE 5: ELECTRICAL | Original Amount | Net Adjustments | Adjusted Total | Description | |
| Electrical Rough | $ - | $ - | $ - | ||
| Electrical Finish & Fixtures | |||||
| Low Voltage | |||||
| TOTAL ELECTRICAL | $ - | $ - | $ - | ||
| PHASE 6: PLUMBING | Original Amount | Net Adjustments | Adjusted Total | Description | |
| Water Service Upgrade | $ - | $ - | $ - | ||
| Sewer | $ - | $ - | $ - | ||
| Plumbing Rough | $ - | $ - | $ - | ||
| Water Heater | $ - | $ - | $ - | ||
| Plumbing Trim & Fixtures | $ - | $ - | $ - | ||
| TOTAL PLUMBING | $ - | $ - | $ - | ||
| PHASE 7: DRYWALL AND DOORS | Original Amount | Net Adjustments | Adjusted Total | Description | |
| Insulation | $ - | $ - | $ - | ||
| Drywall, Tape, Sand | $ - | $ - | $ - | ||
| Finish Carpentry (Trim) | $ - | $ - | $ - | ||
| Interior Doors | $ - | $ - | $ - | ||
| Interior Paint | $ - | $ - | $ - | ||
| TOTAL DRYWALL | $ - | $ - | $ - | ||
| PHASE 8: FLOORS | Original Amount | Net Adjustments | Adjusted Total | Description | |
| Hardwood Floors | $ - | $ - | $ - | ||
| Tile | |||||
| Vinyl | |||||
| Carpet | $ - | $ - | $ - | ||
| TOTAL FLOORS | $ - | $ - | $ - | ||
| PHASE 9: KITCHEN | Original Amount | Net Adjustments | Adjusted Total | Description | |
| Cabinets | |||||
| Countertops | |||||
| Backsplash | |||||
| Plumbing Fixtures | $ - | $ - | $ - | ||
| Light Fixtures | |||||
| Appliances | |||||
| TOTAL KITCHEN | $ - | $ - | $ - | ||
| PHASE 10: BATHROOMS | Original Amount | Net Adjustments | Adjusted Total | Description | |
| BATHROOM # 1 | |||||
| Tub | $ - | $ - | $ - | ||
| Shower | |||||
| Tile | |||||
| Vanity | |||||
| Countertop | |||||
| Plumbing Trim & Fixtures | |||||
| Light Fixtures | |||||
| Glass & Mirrors | $ - | $ - | $ - | ||
| Bath Accessories | $ - | $ - | $ - | ||
| TOTAL BATHROOM # 1 | $ - | $ - | $ - | ||
| BATHROOM # 2 | Original Amount | Net Adjustments | Adjusted Total | Description | |
| Tub | $ - | $ - | $ - | ||
| Shower | |||||
| Tile | |||||
| Vanity | |||||
| Countertop | |||||
| Plumbing Trim & Fixtures | |||||
| Light Fixtures | $ - | $ - | $ - | ||
| Glass & Mirrors | $ - | $ - | $ - | ||
| Bath Accessories | $ - | $ - | $ - | ||
| TOTAL BATHROOM # 2 | $ - | $ - | $ - | ||
| BATHROOM # 3 - Basement | Original Amount | Net Adjustments | Adjusted Total | Description | |
| Tub | $ - | $ - | $ - | ||
| Shower | $ - | $ - | $ - | ||
| Tile | $ - | $ - | $ - | ||
| Vanity | $ - | $ - | $ - | ||
| Countertop | $ - | $ - | $ - | ||
| Plumbing Trim & Fixtures | $ - | $ - | $ - | ||
| Light Fixtures | $ - | $ - | $ - | ||
| Glass & Mirrors | $ - | $ - | $ - | ||
| Bath Accessories | $ - | $ - | $ - | ||
| TOTAL BATHROOM # 3 | $ - | $ - | $ - | ||
| **Please add itemization of work for additional kitchens or bathrooms** | |||||
| PHASE 11: OPTIONAL | Original Amount | Net Adjustments | Adjusted Total | Description | |
| Other | $ - | $ - | $ - | ||
| Fireplace | $ - | $ - | $ - | ||
| Final Cleaning | |||||
| Staging | |||||
| Stucco | |||||
| Closets | |||||
| General Contractor Fee | $ - | $ - | $ - | ||
| Finish Carpentry | $ - | $ - | $ - | ||
| Underpinning | $ - | $ - | $ - | ||
| Footers | $ - | $ - | $ - | ||
| Contingency | $ - | $ - | $ - | ||
| TOTAL OPTIONAL | $ - | $ - | $ - | ||
| Total Estimated Cost of Repairs | $ - | $ - | $ - | ||
Post: Current listing with not enough showings
- Posts 10
- Votes 14
Thank you all! The finishes are actually better that other listings in the area. I am selling through a realtor since I believe the commission is worth it. We decided to lower the price and hopefully that’ll create some traction.
Post: Current listing with not enough showings
- Posts 10
- Votes 14
Hello, I am selling a 4/2 and it's been listed for 23 days with about 6 showings. Feedback has not suggested property needs additional repairs/work, only that they are looking in a different area. Should I lower the price?
@Gerardo Waisbaum I would also be interested, currently a Jax resident, already in the flipping business. Thank you.
Post: Security Measures while renovation
- Posts 10
- Votes 14
First thing I always do is cam and signs. Real time cam
Post: Best Practices For Structuring Partnership
- Posts 10
- Votes 14
@Todd Chandler Hello! I am in the middle of something similar. And I opened a new LLC, new bank account, proceeds will be distributed from the new LLC. I agree with Brian and I'd consult with your tax professional.
My struggle has been on the percentage for each partner since they are bringing 80-90% of the cash (for purchase and renovations) and I am finding the deal, putting the sweat and selling it. What is your agreement in reference to profit distribution? Thank you!