All Forum Posts by: Robert Obniski

Hello everyone,

I have my first flip property under contract and its in pretty good standing. But I've been reading about over rehabbing and under rehabbing.

My questions is, what are somethings that most people rehab or renovate that they could go without? Something that doesnt add any value?

2 specific things I was wondering about were the basement and garage.

The basement is partially finished so it has the drywall already up. No light fixtures and just concrete. Is it worthwhile (valuable) to add flooring? If yes, even further, is it worth doing tile over carpet? Mind you there are no leaks or mold in the house. Solid place

The garage is partially finished as well. I believe 2 of 4 walls are dry walled and painted white. Is it worthwhile to get the rest finished?

Thanks in advance!

I am new to rehabbing to flip but to work. My handyman skills are pretty good, I could do all the work myself and thats how ive always done it with anything but now that I want to hire somebody, Im not sure who to call. 

I'm definitely going to get at bids from a GC and individual subs. 

Since rehabbing and flipping my first property is my only priority at the time, I think I can save a buck and learn a lot if I find individual sub contractors for each task. 

For some of the tasks at hand I know the type of people, I need to hire. (flooring, plumbing, electrician)  But i'm not sure who i call for a few things

-Installing a new kitchen

-Patching drywall

-Tiling a bathroom

-Replacing/rehabbing exterior trim/windows

Those are the few things im not sure who to call or look for when trying to get a bid. If anything else comes to mind ill add it in but thats where I stand right now. 

@Deeb Dweik 

 I havent gotten any recommendations from anyone here about an inspector so I just did some calling around. The one I liked the most charges $375 and has 16 years experience. I forget the name only wrote down the phone number. 

@Greg H. Ok great, I will pm you if I have any questions.

@Greg H. I am not sure how this is going through. As far as I know, we have a agreement on price and he just sent the contract over so I will check that out. As far as the '15' day rule, I wasnt aware of that. 

Any resources for finding out some more about buying HUD foreclosed properties?

@Lumi Ispas 3 months? Is that a for sure-set in stone type of restriction on all HUD homes? I wasnt aware of it/ Also can a home be under contract before 3 mo and have a closing date of 3 months and 1 day?

Anything I should know or an attorney should no before I go through with this?

Plan on purchasing a home in North Aurora, IL it's about an hour west of down town.

This particular house is a HUD property being purchased from a whole saler.

What im looking for is..

-Real Estate attorney that has dealt with HUD properties

-Diligent inspector that has inspected residential in ground pools

-Title company that is priced well and does good work

-General contractors. Fair price for good work. Looking for multiple recommendations for this one.

Thats all i can think of at the moment. Thanks in advance

As of right now, the seller and myself have an agreement on price and hopefully he sends over the contract tomorrow.

This is a HUD property being wholesaled to me.

I wont be using an agent this time so i'm taking any referrals for a real estate attorney, Preferably one that has dealt with HUD properties.

One thing that is worrying me is that the home has a in ground pool out back but theres snow all over and no way to inspect it. Any thoughts on how I can inspect the pool during winter?

I'll be updating this thread as this all unfolds. 

Oh, and this is in the Chicago land area

@Ben Oki Interesting! I look forward to following your journeys if you decide to post it. I plan at one point to have some buy and holds, either complex or flats. But thats down the road.

Right now im looking in the norhtwest suburbs for single family homes and apartments to fix and flip. I wanna get my hands dirty in REI first then start to tackle more and bigger projects.

@Ben Oki 

Welcome! Im just starting out too!

Starting in the northwest suburbs. Do you have any plans on how you are going to take action?