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All Forum Posts by: Daniel Hansen

Daniel Hansen has started 4 posts and replied 17 times.

Post: Structural/foundation classes or info?

Daniel HansenPosted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 21
  • Votes 6

A few team members and I are looking to take some type of educational course/class regarding structural and foundation issues and their respective remedies. We visit distressed properties and typically need to make a decision on whether or not to offer on it within 24-48 hours. From this, we're hoping to expand our ability to inspect and make correct pricing/offer decisions based on our initial inspection results. Obviously we consult with structural engineers on bigger or unknown issues, but we would really like to have a better idea of what we're looking at before it gets to that point. Does anybody know of any inspection companies or individuals who offer these types of general public courses in the Denver area? Thank you!

Post: Structural/foundation classes or info?

Daniel HansenPosted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 21
  • Votes 6

A few team members and I are looking to take some type of educational course/class regarding structural and foundation issues and their respective remedies. We visit distressed properties and typically need to make a decision on whether or not to offer on it within 24-48 hours. From this, we're hoping to expand our ability to inspect and make correct pricing/offer decisions based on our initial inspection results. Obviously we consult with structural engineers on bigger or unknown issues, but we would really like to have a better idea of what we're looking at before it gets to that point. Does anybody know of any inspection companies or individuals who offer these types of general public courses in the Denver area? Thank you!

Post: Old wood Soffit and Fascia

Daniel HansenPosted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 21
  • Votes 6

Hey Zack, sorry for the delayed response - not entirely sure why I didn't see your reply until now. 22k seems high, but given the 4 unit complex and 2x10 material I'm going to tell you your size of project and scope of work to demo old material and retrofit new product is probably why they quoted you so high. I wouldn't be surprised at all if this project cost you $10k+. The fact that it's 2x10 material gives me an approximate age of the property and most likely there are other items that new to be removed/replaced in order to bring this up to snuff. 

I hope you were able to find a contractor that shot it to you straight and was able to give you a solid result. Best of luck, and don't hesitate in the future to send me a private message regarding repairs/work oin your property, I'm more than happy to help you out as much as I can!

Post: Abandoned house, to rent or to flip?

Daniel HansenPosted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 21
  • Votes 6

Check county property records - if the home is not owner occupied, chances are that the county records will show who owns the property and where they live. I do this all the time here in Denver when I drive past a property that is clearly not lived in and most of the time I get a mailing address of the owners. 

Post: Questions to ask roofer when getting bids

Daniel HansenPosted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 21
  • Votes 6

Turning the repair into a rooftop deck - to answer this question its important to know what type of roof you have: steep gable, hip and valley, flat etc. Building a rooftop deck requires a fair amount of engineering to ensure it is stable enough to support guests. This might include a partial demo of your existing roof structure to install the standard joists needed for decking - all of this requires design approval from your local municipality and inspections to ensure its built to code. 

So on the surface I would tell you building a rooftop deck is quite the undertaking and might be more expensive that you're thinking.

As far as which questions to ask the roofing contractor, I would just make sure they're removing the existing damaged/old roof before they replace it. Sometime when I work on residential homes I see roofs that have several layers of roofing - not only does this get heavy, but also decreases the effectiveness of your new roof. As long as you're going with a reputable roofing contractor, they will know all of these things. Also important that your drip edge flashing is either in good enough condition to be kept, or completely replaced with the proper galvanized material. Again, as long as you've hired a reputable and trusted contractor, all of these things are pretty standard when replacing a roof, its your roof deck conversion project that gives me qualms - design/permitting/scope of work can be intense.  

Post: Contractor Scheduling - Wait to renovate?

Daniel HansenPosted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 21
  • Votes 6

I agree with @Christopher Phillips regarding who and how you can delegate to do the work. If you and your husband are willing to put in some sweat equity, my recommendation would be to tear out the carpet and remove drywall yourself. Typically getting these "demo" type items out of the way on your own will save you money because you're not paying a skilled laborer to do relatively non-skilled work. From there I would contact a couple of plumbers and have them assess the scope of work and provide quotes so you can choose who you feel the most comfortable with. Once the plumbing is finished (usually goes smoother before drywall/carpet so they can access walls/floors) I'm sure there are a plethora of drywall companies and carpet companies you can line up to get those items installed. Then either take back over or hire a handy man to put the finishing touches on things - paint, lighting, cleaning the jobsite etc. 

I know you said you don't want to/have time to play GC, but for this project it doesn't sound like it would be too much of an undertaking. Getting a GC involved is going to cost you more money than it sounds like this project requires - they typically mark up material and beyond that, as you've experienced, you're relying on that person/company's integrity as far as timing, hiring, and completing the job effectively without draining your funds. 

Post: Unfinished house a good option?

Daniel HansenPosted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 21
  • Votes 6

Hey Kyle, I agree with all the posts on here as to what to keep in mind, but one thing I didn't see anybody suggest is looking up county records to see what permits were pulled. Might also want to figure out if their are any liens on the property - this sounds like a situation where the original buyer/builder ran out of money for one reason or another, so I would be concerned about contractors who hadn't been paid for their work.

Otherwise this sounds like a great scenario to me - as long as the house is free and clear of any liens and there are general contracting permits for the property (insuring the foundation and framing were engineered and signed off on by the city) It might be a great place to pick up. Also, a big money item would be HVAC and Electrical if that hasn't been started. I also liked what @Rick Pozos had to say about purchase price - it all comes down to what you can buy it for that makes sense with the estimated completion costs. This is where I would get a GC to tag along with you to walk through the house to give an estimate. 

Best of luck!

Post: Old wood Soffit and Fascia

Daniel HansenPosted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 21
  • Votes 6

Afternoon Zack, 

The problem with wood fascia is the drip edge to the roof usually allows the water to bead and roll off the end, so unless it is sealed and painted really well the rot you're seeing is inevitable. I would look into a fiber/cement fascia product similar to James Hardie, this product is incredibly durable but also can be difficult to install due to its weight and fragility - it is very brittle and requires a special blade to cut. 

As for the soffit material, this is usually 1/4 ply that typically last for awhile given you roof and fascia are flashed properly. If you're trying to save cost I would just remove and reinstall 1/4 inch wooden ply and make sure it is calked at the seams and painter really well. A combo of the fiber/cement fascia and new ply soffit should be very durable and last you a very long time. 

As for DIY vs. having it installed by a professional, depending on your handy skills I would probably hire a company to have it done properly - they will know how to flash/caulk/paint everything that otherwise might get missed causing a decreased life span of the products. If you're handy, this is still a decent sized project as you're working on a ladder and above your head for most of it. 

Hope this helps!

Post: Multiple contractors to bid at the same time?

Daniel HansenPosted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 21
  • Votes 6

Afternoon Hen Ley, in my experience working with contractors its usually best to set up separate times for same-trade contractors to visit the property and give estimates. I work in a larger city than you it sounds like, but I typically like to have more in depth conversations about what the contractors schedule/approach is to a project. I think you'll get higher quality and more accurately detailed estimates as opposed to contractors simply trying to out bid one another - what good is the lowest initial bid if they end up going over budget just to get the job from the jump. Hope this helps!

Post: Investment/Fix and Flip Finders Fee/Split Help.

Daniel HansenPosted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 21
  • Votes 6
Originally posted by @Charlie John:

Very cool @Daniel Hansen

I find the deals (direct mail, networking), negotiate the purchase price/terms and then take it from ugly to pretty on the construction design side. My partner funds the purchase and rehab and then lists the house (licensed broker).  

I do pay myself a fair/below market wage for my time working ON the property. Things like painting, demo, landscaping, etc I get paid for. Because if I wasn’t doing it, we would have to pay someone else to do it anyway. I enjoy doing these things and am a quality worker. 

My partner includes his commission on the sale side into our profit split. 

We split 55/45. I get 55. 

Honestly I feel like finding a profit venture and then being able to execute it is has more value. 

 Thank you for the response and insight, this definitely helps!