All Forum Posts by: Aaron Schrader

Absolutely, don't allow them to buy material or start work without a contract that outlines costs, timeline expectations if you can get that on there too.

honestly I don't know why a contractor wouldn't be supplying this, they've gotta want to get paid too!  

Absolutely, don't allow them to buy material or start work without a contract that outlines costs, timeline expectations if you can get that on there too.

honestly I don't know why a contractor wouldn't be supplying this, they've gotta want to get paid too!  

Regrettably I won't be able to make this, I hope you have a good turnout!

Hi Ryan, I've got a guy!  Send me a DM and I'll connect you with him.

I'm working on putting one together actually!  Would late May be a good time for you guys?  

A couple of thoughts- that bathroom tile failing under the window seems to me strong evidence of leaking at the window and moving down the wall, whether it be from the shower or from outside.  The blistered paint toward the top of the ceilings looks to me like there's either been ice dam problems forcing leaks, or issues at the soffits.  That's where I'd start.  

 That's funny- yes I remember meeting you.  Hope things are well and if you want to meet up when you're here let me know!

I think that is good foresight to fix the problem before you get a renter in there! As for reline or repipe, I can't really say much for the lining as I don't have experience- if costs were the same I'd go new. But you didn't mention, with new plumbing are we talking about a new sewer line? Or just your interior house plumbing and supply lines and similar? I think if you have the option of relining your main sewer pipe I'd lean toward that but I'm sure they'd need to scope it and see what they're working with. Regardless, those cast iron pipes are 60 years old at this point so tackling this issue is probably a good idea, and if I were in your situation I'd either 1) take on side hustles, save money and pay cash or 2) HELOC it, fix it, and take on side hustles and pay off that HELOC. I wouldn't wipe out my 7k in savings if that's all you have in savings. If you have other cash and this is your house money savings then I'd consider it I guess.

Just personal thoughts, not saying they're correct but that'd be my approach.

Have a conversation with a property manager, but also check in with your local REIA group. I looked and there are a few in Mass.

I'd evaluate your own timeline expectations for the whole project- will you live in it for 2+ years or less than that, and consider your next step and how to best manage taxes and expenses.  Would you roll your profits into another primary residence after two years of living in this flip? 

 Other things I'd consider- do you have a place to crash while certain aspects of the job are being done?  I did all my own hardwood floors in a house and had to move the whole family out while sanding and finishing.  As far as what to look for when searching for a property...If you're flipping it then I'd look for a home that is undervalued in a nice area, so that when you are done you can sell it quickly.  I'd probably shop for generic appeal (3 bed 2 bath type home).  

When rehabbing, keep things neutral and don't get weird ideas and try to implement funky project ideas- these slow you down, decrease the breadth of appeal to wider buyer pool.  Let the buyer put their own funky designs on it.  Talk to a few different agents in your area that have a reasonable amount of sales volume and ask them what the majority of their buyers are looking for in a home.  Is it lot size?  Bedrooms?  Neighborhoods?  You want to hit as broad of an appeal as possible!