Reo Offer/Painting Brick?

Question

I about to put my first offer in on a house I intend to fix and flip. Couple of questions for the pros. First, it's listed at 83 and I need to obtain it in the 75-76 area. What would you reccomend as my initial offer? (it's an REO), also how much time would you reccomend to ask for a Financing and or Inspection contingency?

Secondly, provided I obtain the property.... It's in pretty good condition, but it's a brick house and the brick is a bland, boring tan color all the way around..... Any suggestions to give the house more curb appeal? (pic below) Thanks everybody!

Account Closed · Answer

I agree with Andy. I wouldn't do anything with the brick. You could enhance the curb appeal by using more contrast on the trim areas (fascia, window trim, door jamb). Some colorful shrubs and other landscape work would also add some interest as well. Changing the door and or painting it. When you do the repair work, I would consider hiring a designer to help you come up with some ideas.

Mark B · Answer

Hi George, Cool little house. I'm a registered architect and curb appeal is one of my specialties. This thing has lots of upside. Quick answer on painting the brick: no, not in this case. The bland color is not so bad, and if you choose the right trim colors, you could bring it to life. The house is begging for a little overhang over the front door. If zoning allows (setback to front prop line), I'd building roof that comes down on two nice sized columns that sit on the front porch wall. Have a look at the wall to see if you can determine the footing size or see any settling already. If you frame the new roof extension out of 2x lumber, it should not be too heavy and the exising porch may be able to support it as is. Look into that. Take the storm door off. They work, but they are hideous (let the new owner deal with that). Paint the door a deep red which will look good with the brick color. Replace the door if it is hollow or in bad shape. Paint the door trim and the eave the same color, a darker earth tone, I'm thinking. Create a planter below the window to the left of pic, plant a small multi-trunk tree. If it was in NM or TX, I'd make that a Crepe Myrtle. Could build a wood stair rail that ties into the new columns that I mentioned earlier. Would love fixing this one up. M

Bill Gulley · Answer

Follow Mark's plan. Under the window on the right at the bottom of the steps I see a concrete planter with a tall green planting. A free formed flower bed in front of the porch from the bottom of the steps around the porch and under the left window and at that cornet another tall green planting. Please don't paint that brick, it will look much better with some greenery next to it and the front bumped out, IMO.

Don Hines · Answer

My wife and I completed a rehab/flip about 2 years ago. She did the neatest thing that I would have never thought of. The home was trimmed with a pale (faded) blue vinyl siding that she painted with some kind of fancy paint she found at Sherwin Williams for vinyl and changed the color to grey. She also painted randomly chosen bricks with the same paint. The results even impressed me and I can't even tell when I have black or blue socks on So, there is my advice. Get married or otherwise find a woman to tell you how to add appeal. Don

Andy J. · Answer

Regarding your first question. Do you already have a pre-approval letter from a lender stating that you are eligible to finance a property as a non-owner occupant? Or are you looking to finance with hard money? A bank is going to ask for one with your offer. The shorter your contingency periods are the more enticing an offer will look to the bank. Regarding your second question. Are you sure you want to paint that brick? Looks like it's in decent shape from what I can see. Is this going to be the only painted brick house in the neighborhood, if it is then I would definitely reconsider. Even if you were to paint the brick, it's still going to look bland from the curb. Personally, I would leave the brick, paint the front door red, remove the screen door, and do some light landscaping in the front. A couple flower beds maybe, some ornamental bushes/trees/plants, mulch to bring contrast, maybe even a very short picket fence if it fits well.

Mark B · Answer

Stan, so what happened? Did you get this house? Let's hear the update.

Stan Jackson · Answer

I agree with others, do not paint the brick. Maybe you could do acid wash to brighten the brick a little bit. Be careful not to confuse "curb appeal" with "sore thumb" by making it stand out too much! Look at the other homes on the block for guidance.

Diane J. · Answer

" Curb Appeal" is one of my favorite shows on HGTV. I just saw an episode where they overhauled a mid century brick house very similar to this one and they did paint the brick. However, it wasn't the paint that made the difference but the pergola and deck at the front entrance along with trim colors that made it pop. They usually use 3 colors for the trim, one for the door, one for the shutters and a darker shade around the windows. Some paint chips already have color schemes worked out so as long as they work with the brick color, you're good to go. You may not have room for a pergola on the front landing and building a deck out is expensive. Maybe a couple of pots with arbor vitae (little conical trees) at the corners with a planter box in the middle would help and tall plants in front of the brick. Window boxes make it look friendly.

George Moehlenhoff · Answer

great suggestions everyone, please keep them coming!!!

Mark B · Answer

Thanks Charles. George, I found a similar example (although this guy takes it further than may be necessary or profitable in this neighborhood, it transforms the house.) Look at those columns, they have a bit of girth appropriate for the age of the house (no 4x4 or 6x6 posts). Before and after pics: http://tomtarrant.com/?page_id=57