All Forum Posts by: Mke Wilburn

I'll be there tonight.

Adam,

First I agree with Christopher you need to have a team in place and having several levels deep is a great idea. 1st string, 2nd string etc.

As far as inspectors or any other "team members" go, I seroiusly doubt that you would find one that wouldn't be willing to help you out in the future.

My suggestion is use your time wisely, call them now, go see them now, ask to see a typical report they would do. You will find one that you like better than another and feel more comfortable working with.

Nothing against the other guys but you will always have your A level people B's,C's.

Just keep this one thing in mind....THEY WORK FOR YOU, NOT THE OTHER WAY AROUND.

Good Luck  

I'm in Houston as well. Welcome to BP it's a great place.

I am an experienced builder and remodeler. My longer term goal is to buy and hold as well but am currently flipping and am always looking for investors.

Are you fimiliar with the Jet Lending event tonight at the Red Neck Country Club?? 

The house is a complete gut job. All of the meters are gone due to the fire so, yes, permits are a must.

There is smoke damage and blackening in the attic and the only way to get rid of it is silver paint or kilz so it would be very obvious when someone would look in the attic.

There is no way to hide it, which I'm not trying to do, I'm just concerned about buyers reactions.

I've been told that most people don't have a problem with it as long as it's fixed properly and you can't smell it.

Ok, here's my question to y'all, any and all feed back is appreciated.

I am looking to flip a house that has burned. The fire wasn't terrible but it is going to require removing and replacing about 25% of the roof plus everything from there on. In other words plumbing, electrical (it was aluminum wire, cause of fire) A/C, insulation, sheetrock, cabinets, flooring... you get the idea. 

I am a very experienced builder and remodeler so the larger project doesn't concern me.

My concern is two things,

Even though i can buy the house right,

#1 it is going to take a large cash injection to do the job

#2 how are buyers going to react to the fact that it has previously burned.

I have done burn jobs before but not as a flip.

Thoughts?

Welcome to BP. I'm pretty new here myself.

Get their book on flipping. Definetly worth the read.

Try the Jet Lending thing. Lots of people. Lots of contacts.

They also do a once a month lunch at Gulf Gate Mall.

I agree with Tony, there are meetings all over town.

I'd say pick one and start there.

If budget allows you might try staging it.

That's a big house and people have a hard time visualizing.

Another thing too is when you show it make sure its as clean as possible, looks like the floors are dusty, maybe it's just the pics.

I would typically provide a range, dishwasher and microwave, but only if the mw is the over the range type.

No frig and definetly washer/dryer. Also, I agree try to find good rehabed ones.

There are places in my area that have rehabs with a three year warranty.

Don't discount section 8.

It's a very reliable source of income and the government is usually stricter with those tenants b/c they are helping pay their rent.

If a tenant messes up a property they can get kicked out of the program.