All Forum Posts by: Shawn Pottschmidt

UPDATE: When I first went there the roof was covered in snow. It has since melted and lo and behold you can see where they had nailed down tarps to cover the roof. But the only thing left of the tarps was the pieces that were immediately nailed down to the roof. So anyone who mentioned moisture gets a prize. Thanks everyone for responding. case closed

I scoped out an abandoned house today. There was a ceiling fan will all the blades drooping or hanging from the attachment site instead of being rigid. It looks like they melted. Anyone have an idea what this is from?

DONT USE THE DRUM SANDER. If you have never done this use an orbital floor sander.

To those in the Midwest, what has been your return rate recently been on your flip deals?

If its pine you might have pine pitch weeping through.  I noticed this with a loft I built once.  It was circular like a knot in the wood.  Not sure how to fix. Paint might work for a while.

Since I originally posted this, my wife says all my free time will be spent working on a house. That was really a coded message meaning rethink your strategy. I see the wisdom in hiring a GC. I am now analyzing deals with a GC factored in. Down the road after a few flip deals I will probably do more work myself to pad the equity and use those as deals as BRRRR's.

To those who have bought a property with tenants included: 1. What information did you glean from the owner? 2. This would my first house and it's a very desirable neighborhood. What else can you tell me to watch out for?

Originally posted by @Gail K.:

I like older houses but they can be a headache to work on.   Haven't found anything "exciting" in any of them except an old, old newspaper shoved up a fireplace that had been there since the 50's (I'll skip the "Jug's" magazine found in one bathroom.

Gail

 So do you ever avoid buying an older place with say tube and knob or plaster?  My sisters personal residence had/has it and seemed like a major pain in the ***.  

@Clayton Plank as a woodworker I can appreciate the character of a craftsman style as well.  

When first contacting the owner of an FSBO, what are you looking to accomplish? Or what information are you trying to glean from the owner without offending someone. Getting into the property and having discussion seems the way to go. Of course if you live far away that may not be possible. What is that first conversation on the phone going to be about?