All Forum Posts by: Don Hines

This subject has probably been discussed many times before. But, for the newbies or other less experienced rehabbers (than myself) here is my most recent experience.....
Lesson 1.
I depended upon the disclosed square footage when I aquired my most recent rehab. After almost 1 year of DYI rehabbing (and working full time 60 or more hours a week), I learned it was a little over 300 sq ft less. This cost me about $10,000 and some embarrassment. Specially since I worked with 3 full price offers thinking I was already discounting the property. I will still clear $7500. So, I didn't have to pay for this lesson completely out of my pocket or hide.
Lesson 2.
This project was 6 months over budget. I paid around $5000 in holding cost more than I planned. Looking back over the last year, I would have gladly given that $5000 to a contractor to get this project done in time. I would have hugged his neck too.
Lesson 3.
When something "offends my eye" take care of it. I made so many mistakes with this one that were snagged in the inspections. A lot of the items could have been avoided with about 15 minuets the first time I did them. Other items could have been addressed before hand with a 3 dollar can of spray paint.
I made money on this one. So, my wife likes me this time unlike my first one. I have 3 offers out looking for the next one. Plus I have some contractors lined up too.
Don

I wished I could enforce my long term goal on myself like I do my short term goals.
I was afflicted with sportscar racing in my younger days, it taught me how to do the "check off" list while preparing a car for my monthly races. If I didn't meet my daily (nightly) goals, I might be finishing up my car while everyone else is practicing or qualifying; or might cancel even going to the race at all.
I find I do the "check off" things when I have set an open house date.
I wished I was diciplined enough to do this with my long term goals. But, I can see what direction I want to go to.
Don

I agree with Mitch. Check the line between the air gap and disposal. Then check the conection inside the disposal. I stay onto my wife all the time about leaving chunks in the dishes. There is nothing to grind them up inside the dishwasher before the disposal except maybe the pump inside the washer. That can't be good.
Don

YES!!!
I was showing a single mother our house when we caught her 8 year old going through the drawers in a credenza (SP). Remember we use furniture from our house. He found some change and other sorted items that we had failed to remove.
Other than that, I gave a picture away that the buyer just had to have. Wife wasn't overly joyed about that. I am always asked if the furniture stays.
Don

Do you see the common denominator here? If you are going to do DYI staging, you have to have a lady involved. I am always amazed at the comments/complements that are made on our (my wife's) taste in staging and colors. But, I always knew she had good taste when she picked me out of the crowd.
Don

We use furniture from our home. My wife is in charge of the staging in our partnership. She does it cheerfully; until about week 4 or 5. We didn't do the bedrooms on our last one. I don't think it made a difference. But, she did do the baths, kitchen, and living area.
Don

They are all I have ever used. I had some amazing results with this last house. I had three offers the first week it was listed on the MLS.
Don

I bought a little 5'x8' trailer on my very first rehab. I don't know how I lived with out it before. I use it for everything between going to the dump to hauling staging furniture. Sometimes I might pull it for a week or more while I make daily trips after work for this and that (sheetrock ETC).
Don
Edit PS
I pay the city about $28 to dump when it is loaded with all it can carry.

I am afraid i will get zapped by the "advertising cops" if I answer your question directly.
So, you can veiw my latest ad at [www.homesbyowner.com/73345]
Don

I wonder if you are contractually bound to your broker as well. But, I have a great experience with a flat fee listing. Make sure you offer the buyer's agent their 3% and it should work well for you. Even though it is on the listings, all of the agents that have shown my property always asked up front if I am paying a commision, just to be sure they are getting paid.
Don