All Forum Posts by: Dan White

Keep shopping - I would suggest calling a local roofing supplier and get some referrals from them. Tell them you are a flipper/investor and you need a good priced crew that is insured and licensed. I have done this and found some amazing trades people.

I would let them know that you want a quote with the price per sheet of plywood replaced and how much the chimney work would cost. 

So ask for:

Roof replacement price

Price per sheet of plywood or sq ft.

Chimney work

We are full time flippers - You are very sharp to understand that the leads are the hardest part of business. It has been our biggest learning curve - everything else is easy.

We know around 20 plus flippers in our area (Wash DC suburbs)...only 1 or 2 wholesale. Most just flip including us.

As far as lead flow, we utilize Google PPC and some direct mail to get the leads directly. A lot of other flippers do utilize wholesalers and birddogs for getting leads. 

I have noticed that some wholesalers in our area were once flippers and switched to wholesaling. Some of them commented that wholesaling was less liability and almost as profitable as flipping. They also said that they had struggles with flipping...takes too long, no reliable labor, etc.

So, I feel us controlling 100% of our lead flow is best for us. It is more expensive for marketing but allows more profit for us too.

The lender will get their appraisal management company to do the appraisal. You can always get an appraisal for informational purposes but like @Carolyn Yates said, the lender will not take it, most likely.

I would interview agents that know the area and the current market conditions in that area...sounds like you are overpriced. 

Great Answer @Dan H..

I would agree about the Out of State renos too. Stay with the area you know and can manage if needed.

 I will echo some of the others here...yes and no.

The trade specific items like plumbing parts and electric boxes etc...we don't buy.

The design based items like toilets, LVP, cabinets...we buy.

Not to save money per se...but we want to decide the look. We have built relationships with the supply houses for those items we buy to save money though. Tile Shop, HD and Lowes ProXtra accounts, Floor and Decor.

I agree with @Ryan Normand. Pulling tiles up might be an option from other spots. But it's risky and may not be worth the hassle.

LVP all the way.

 Same as Andy - we use the Allure from Depot. Looks nice and easy install.

 Based on the numbers, It works as a flip. 14% Profit or so. Assuming the numbers are all legit.

Great answer @Garrett Crosby. I agree with Business degree if you feel like you want to get a degree. Ultimately, you are running a company - your REI company.