All Forum Posts by: Sara Smith
Sara Smith has started 1 posts and replied 4 times.
Quote from @Travis Bobo:
Thanks for quick replies. One of the things that I like is that they focus mainly on wholesaling until you decide that you want to do something else. They evaluate your goals with you and help you work at your speed. I like the comfort of knowing that someone as a vested interest in holding my hand, but I'm still a little skeptical. That's not to say that the BP community isn't a big help. You already have been.
There are 3 levels
10k investment. 50/50 spilt on profits
20k investment. 70/30 split
30k investment . 90/10 spilt
If you want to continue after 12 months, the spilt is negotiable.
I feel like it wouldn't be too hard for me to make a 10k-30k mistake on my own in the school of hard knocks.
Thank you, Jaysen. I am going to keep this list handy for the next flip.
@Will Barnard You wrote this in a previous post. "I made mistakes and did some things out of order, but that helped me to better understand the order and why so when I hired subs to do the work, I knew how to properly schedule them, how much it should cost, and how long it should take."
Do you have a guide or any references on the proper order to do things. We have run into some issues with our live in flip.
Thank you!
Hello All,
My husband and I are nearly done rehabbing our first ever flip. We learned the hard way about the importance of taking time to interview and gather multiple bids to find the best contractors and not to get too hasty to just hire someone to get it done.
We moved into the house after paint, carpet and bathroom tiling was done. Wood floors, plumbing (except toilets), kitchen counters, and kitchen appliances were not in yet. Many small repairs still need to be made and we need to do them ourselves because we are over budget. We live in it with our 3 boys, ages 9, 6 and 2. The part that is really wearing on us is protecting the work already done with the kids in the house. Mostly the paint and the engineered hardwood. Plus working around all our stuff and their stuff seems to be really slowing us down. I wish we didn't have to do a live in, but financially it seems like the best option for us right now. Here is my question. Is there a best order to complete a live in flip. I feel like we did things out of order on this one. Here was our order: had furnaces and condensers replaced, removed old carpet, demo-ed 1000 sq ft of tile on main floor, painted upstairs, tiled laundry, half bath, master bath and upstairs bath, tiled master bath shower, carpeted upstairs and master downstairs, painted downstairs and kitchen cabinets, installed engineered hardwood, installed granite, had plumber come to plumb the shower and kitchen. Now we are on the little fixes we need to do ourselves.
Should paint have come last? It seems like each contractor took their turn adding to the mars, dings, wall scuffs and grease prints. My kids picked up where they left off. Professional painting is expensive! Next time we hope to do our own painting we just don't know where it makes sense to put paint in the schedule.