All Forum Posts by: Account Closed

Well, here we are going on 3 months and this flip just won't end! My contractor (who is also my property manager) has been incredibly distracted and is having a hard time finding the time to get the job done. I really hope to have it wrapped up and on the market by the end of the year, so we will see. Things are going so slow, I have decided not to add a 2nd bathroom like I had hoped to. This will hurt my ARV and probably bring my asking price down to around $79k, but I just want to get it done and move on to the next one.

I am going to go by on Friday, so I'll snap a few pics to show the  progress.

Congrats on a great deal! Can you tell us how you made contact with the owner and negotiated the deal?

Great job @Silvia Durango 

Now go get another one!

Beautiful work, and great numbers! Congrats!

I apologize for not fully reading your post @Cindy Ace . I see now you need a 40 gallon, not a 38 gallon. Have you checked to see if you can just replace the elements or the thermostat on the existing water heater? Unless it is leaking, it can probably be easily fixed.

Did you look at the ones designed for a mobile home? I just installed one a few weeks ago that fit under the kitchen countertop, so I would think it would fit in a crawl space as well. If not, I would look into a tankless.

Edit to add: this is the one I used that fit under the countertop:

Lowe's Link

And here is the one that is even smaller for mobile homes:

Lowe's Link 2

I agree with @Pat S. about going to the CREIA meeting. That is going to be your best bet at finding a buyer. You will also get some really good advice there. Good luck!

I would just do a visual inspection of the siding and see what shape it is in. The masonite siding was bad to rot on the lower courses that got wet. It isn't that hard to fix if it is rotted. I just finished a job with this and it cost a couple of hundred dollars to fix it all up. In my case the actual sheathing on under the siding was in good shape, so the fix was easy. If your sheathing is rotted as well, the job will be a little bigger, but still not unmanageable if you budget for it.

When I bought my 16 unit the owner told the tenants I was a representative from the insurance company doing an inspection so they wouldn't know it was selling. I can certainly understand the owner not wanting to bother the tenants every time some tire kicker comes along, but there is no chance I would be willing to purchase without doing  through inspection. The owner has to understand it is very difficult to even make an offer without seeing the condition. 

I'm hoping to get my remote flip that was supposed to take 30 days to rehab (its now been 60 and we aren't even close) finished and sold. At this point I guess just finished would be great. Time is certainly flying by!