All Forum Posts by: Brian Pulaski

I wouldn’t hire a contractor to paint. If it is a house hack you can paint as you inhabit the space. Flooring would be tougher to do and I would entertain hiring that out.

The other items you note seem like they could potentially cost north of your $7,500 estimate/budget. I would get firm numbers on all of it before I committed. You may find your budget won’t cover contractors performing all the work.

I don’t know your market... however painted wood floors used to be a trend, many, many, many years ago and done so to be cheap. I would 1000% not paint wood floors. I imagine any buyer looking at a renovated house would be turned off by that.

What do you have budgeted for floor refinish? I have seen sand and refinish (no stain) for as low as $2/SF. Personally I wouldn’t entertain doing it myself and also wouldn’t entertain painting it.

Without seeing the house, none of these costs seem massively out of line. The flooring I would want to know what they plan to use for material.

Water heater and new panel would be more than $1,500.00 where I live. Personally I would have the seller get the work done. If it was enough of a credit to cover it I would prefer to have my contractors do the work.

That was my thinking as well. Never had a HUD house that I didn't win come back on.

I offered on a HUD house a few weeks back... crickets. Just for fun I was back on their site and the house is back open to all bidders. I had my offer as a back up (or whatever HUD calls it) but never heard a peep. Do they message the realtor, or is it some portal in their site that messages are sent to?

All the deals I have done in CT there was a standard real estate contract I always used. I am not sure if it allows for assignment as I have never done that. I imagine you would want to use what is standard verse creating some one off contract. I would however get an attorney on board before you start.

Honestly, most new wholesalers do "wing it" and I imagine have to back out of deals because of that. Wholesaling combined all the difficult parts of real estate, lead generation, marketing, sales, contract knowledge, construction knowledge, ARV knowledge, etc etc... personally I see wholesaling as an advanced technique yet most start there.

You can try and get contractors to give you bids, but that will get old quick after giving you 10-15-20 bids and seeing $0 return.

I had one a couple years ago...

I was sitting in an Attorneys office closing on one house to flip. The attorney asked if I was interested in looking at another one, a family member of hers wants gone. She said some guy keeps trying to “buy” it with this half assed disaster of a contract. Of course I was interested and I reached out to another investor to go look with me (both of us were possible buyers). When I sent him the address he laughed. Turns out the wholesaler was already advertising the property as under contract...

Amazing to see someone advertising a contract they didn’t even have yet! In the end the house wasn’t for me or the investor that came with me. The funny thing is a different company ended up buying the house, not the wholesaler who was advertising a deal he didn’t have under contract.

I would 100% be in discussion with a competent attorney before I did anything I wasn’t sure was legal. Houses are one of the biggest most personal items anyone owns, I would be certain what you plan to do there are no issues with it, and no matter what anyone here tells you, only an attorney (who would be there to defend you should the issue arise) will have any skin in the game giving you the truth.