All Forum Posts by: Adam Abdel-Hafez

Along with what everybody else has said, for this to make sense to me and my team we stated that the home would need to sell for $450-$500k, which there are no comps in that area showing we would get that. From comps it looks like we would be pushing it at $400k. Also, the house across the street was in the middle of being gutted so we checked it out. It was a little big smaller but had a better flow. The house sold for $200k and I would expect a $150k rehab. I am interested in what it will sell for. A few other homes in the area were similar to the one you are looking at, but they are all owner occupied rehabs, no flips that I could see.

@Account Closed, that's funny I just went to assess that home yesterday as a possible flip. Looks like it used to be some kind of multi family housing, and we condisered keeping it as some kind of condo/townhome and as a single family home. For a single family rehab you are looking at somewhere around $150k, so nowhere near your $75k budget. That house would basically need to be gutted and to gut and rehab a 4500sqft is no small task. It also had a lot of structural problems with uneven floors, reconfiguring etc. 

Those prices are so insane I don't know where to begin. I do not know the Maryland area, but all of it seems very high in regards to atlanta pricing.

I would just replace the aluminum windows and the broken ones. If the glass is broken, you may be able to just replace the glass. I never replace wood windows, but aluminum has got to go. 

You need gutters for sure no matter what. 90% of water intrusion problems can be solved with fully functioning gutters that move water away from the home with simple corrugated pipes. Shoveling in dirt around the foundation will assist in having puddles of water slopes towards the foundation. I cannot stress how many times people suggest wrapping a foundation and/or French drain system when it is not necessary. On rental properties, rule out the simple solutions before you get to the difficult/expensive solutions. Out of 100 situations, I've had to do a French drain maybe once or twice to solve the problem.

What's wrong with the windows? Are they aluminum or wood?

I don't know any contractors in Utah, but I would recommend adding gutters with drain pipes about 5-10ft away from the home. I would also backfill dirt around the foundation so that it doesn't slope down to the house. On rentals, I always try to rule out the simply solutions before I get to the more difficult ones.

It is difficult to assess situations like this without seeing it, would you be able to post pics or the drain along with the terrain of the yard?

I am assuming this is just labor, as there is no way this includes material. If they say it does include material, look for somebody else as they have no idea what they are doing. Is this a handyman or contractor doing this? If it's a handyman it's a little high, if a contractor then I would say it's reasonable including all of his business expenses. I would however ask for them to be more specific on what they are doing, because a lot of this is very vague

How to remove mildew: 1) repair leak where water is coming from 2) rip out damaged drywall and framing 3) let area air out to allow all moisture to escape 4) replace framing/drywall It's not rocket science, people try to make this more difficult than it needs to be