All Forum Posts by: Courtney M.

Hey guys! My first flip has had TWO full price offers back out on bad inspections. In both cases the housing inspector said the foundation needed further evaluation (but of course went on to add superlatives that I personally don't think they are qualified to say). In case 1 - the couple sought a contractor to inspect the foundation, who's report didn't speak to the status of the current foundation, but instead just provided them a $40,000 quote to REPLACE the foundation. In case 2, the couple just backed out without seeking further evaluation. 

SHOCKED by this "bad foundation" knowledge, I sought a foundation expert myself to come tell me what is wrong, and he disagreed ENTIRELY with both housing inspectors. He said the foundation is "performing well, and will for many years to come in its current state". He said one inspector was out of line in his assessment that the foundation was "poor and structurally compromised" - and said he had no basis for saying that. He said the house is "safe". And both inspectors noted the foundation as a "safety concern". He even said he's buy the house personally without concern, and the suggestion to replace it entirely was "silly". The second inspector even insisted the house be retrofitted for earthquakes - but its a brick foundation. You can't even DO that with a brick foundation. 

The guy I used is a guy who only BUILDS and INSPECTS foundations - he was referred to me by the leading foundation repair company in SoCal! These housing inspectors are jack of all trades, masters of none. Do I have any recourse here?! They've lost me TWO offers. The first inspector even went as far as to list the wiring as "knob and tube" - when I don't have knob and tube (in fact I rewired the whole house). He said my wall heaters aren't vented (they are, and through the roof, you can plainly see the vents from the outside of the house). He said I don't have carbon monoxide detectors (I do, they are carbon monoxide/smoke detectors). 

Are these people just allowed to blatantly lie?

No one will believe me, but there are also some great deals in South LA. And if you happen to want something move in ready - I own a property I am about to sell in that area. You will not get "gangster free" anywhere in LA. Every neighborhood has streets that should be avoided. But if you'd be interested in considering South LA let me know. I am trying to sell my place off market

Hi All! I am looking for connect with anyone who is interested in Buy and Hold opportunities in Los Angeles. I recently renovated a home in Historic South Central that I was planning to rent out and hold onto for a bit - but life changes, and it would be a great opportunity for someone else. I make a little, you make a lot. Hit me up!

Great buy and hold opportunity.

BEAUTIFULLY REMODELED! This 2bd/1ba single family home, sits on an R2 lot - and has a bonus bedroom/office space that includes a half bath. EXTRA square footage that isn't included. City permit shows the house as over 1400 square feet, county assessor says 913. Big kitchen, stainless steel appliances, bar top, recessed lighting. Large jack and jill bathroom with clawfoot tub. Large fully gated secure yard. Single car garage in back. Nice neighbors!

Attic is HUGE - and could easily be turned into a master suite or studio apartment.

Could easily rent for $2000 a month, if not $2500. 

CLOSE TO USC, Exposition Metro Line, Downtown, the THE LOS ANGELES RAMS!

The area is changing! Buy this beautiful house now, and sit on it as it increases in equity. Properties are being remodeled ALL OVER. Move in or rent out! 

Buyer to verify all details. 

Hey everyone! I am amidst a flip in South Central LA where the average days on the market are in the 60's. Obviously selling the home *for sale by owner, saves me the commission and gives me more profit. Does anyone have success with this model?

OR - do you suggest getting your real estate license.

OR - bite the bullet and pay the commission - (which could be appx $15,000 for 3.5%)

For those of you who do a for sale by owner, do you hold open houses? Print your materials? List the house on any of the usual sites (redfin, trulia, zillow). What are your tried and true tricks for success?

Following

 Hey guys! So my husband and I recently purchased a Fannie Mae home in South Central LA (whoop whoop) that we are hoping to flip in the next 6 months. This is our FIRST flip and it's already starting off with some crazy stories. We just got the keys last wednesday and by the time Saturday rolled around someone had changed the locks and stolen our motor off the front gate.

We are going to be chronicling this insanity on facebook - so we encourage you to play along at home by following our plight *ahem*, I mean success on our page: https://www.facebook.com/teamoperationrenovation/

So far we have a property tour video up on the page so you can check it out. We'd love any suggestions or ideas! NOTE: Strong language in the videos, I tend to talk like a sailor when things don't go my way. 

BTW - we are referring to the home as The Spearmint Rhino due to her luxurious color, not because there is a stripper pole in the attic, but don't worry - we may add one.

Ha! @Manolo D. - not sure I have THAT much extra money to play with lol. 

Hey everyone! I am in escrow on that Fannie Mae home I posted about a few weeks back. We close on the 6th.

SO NOW - Experienced house flippers - give me some advice. The house is a single family dwelling on an R2 lot in South Central LA - near USC (yes, I'm aware of the risk here). It is currently 2bd/1ba with an illegal half bath that I plan on getting permitted. If you had some extra money in your reno budget would you A. build a small studio apartment off the garage since the lot is zoned for it (lots of renters near USC). OR B. finish out the huge *** attic to be a master suite, knowing the area is primarily large families and 2 bedrooms - while common in the area - is not ideal. Decisions Decisions.....