All Forum Posts by: Doug Ferguson

I have done a lot of work with a 5x10 trailer single axle trailer.  $1500 new.  I towed with a 4-runner and graduated to Tundra about a year ago.  The truck is great for quick hauls when you didn't plan on it, but the trailer wins hands down on ease of load, unload, weight capacity and the ability to leave it behind.  So if you are doing demo, it can serve as your dumpster.  I thought once I got a truck that I would not use the trailer but that is not the case.  Definitely the trailer on price.

That is very funny and probably going to be very true. The current house is new to market. It will make for a good flip to observe and learn what the market supports. I am excited to get MLS access so I can see what other flippers are doing. This is the only one I have stumbled upon on Redfin that I could tell was a flip. 60 hr class exam is in the morning...

@Lee Badragan I sold a 2 unit in Baltimore city that I lived in and renovated to a fine detail and I had a similar selling experience.  Buyers realtor actually asked if asking price would still get it done.  I was second guessing holding the property. 

I was hoping to repeat the same quality on my first flip deal in hopes of quick sales and a good reputation.  I am glad to hear this is a model that works for others.

Indeed the house was in an upscale Baltimore County neighborhood. After a little more research it looks like they are comfortable with properties sitting as evidenced by their 100+ DOM listings. I am glad to hear I am not crazy for wanting to error on the side of clean details.  I don't know if I have the stomach for that much waiting on a regular basis. 

@K. Marie Poe  Would you say $500k is an averaged priced home in your area or more on the upscale.  

Anyone else?  I know I am not the only guy who has a keen eye for details!

Hey Guys,

I went to an open house at a recently finished flip today and left a little perplexed.  This was by a company that has about 12 houses on the market in the state.  Just by their scale I would have to say they must know what they are doing.  

I was not overly impressed with the details of the rehab.  The kitchen and bathrooms were done to a fine detail including the tile work, but the laminated wood floors felt very bouncy and cheap when walking through a $600,000+ house.  The painters did not prep the drywall very well and they had some thin spots in the color.  Floor transitions and the quality of the carpet install were also lacking as well as some other things I would call detail problems.   

If I were running the rehab I would have required better paint prep and detail before going to market.  I know I will have to rein in my eye for detail to stay on my budgets but I would have thought 600,000 would be when the real hardwood and thorough paint inspections kick in.  I do think this company must know what they are doing based on their inventory, but this has left me thinking...

Is having a good eye for detail a blessing or a curse when flipping?

I look forward to hearing what your experiences have been.

The General Contracting Prep Course I took taught nothing about actually General Contracting with regard to construction.  It seemed to me the course was for people that know about construction practices but don't understand the business side of it.  I don't think General Contracting is best taught in a classroom.  

It sounds like you want to mainly use your GC license to pull permits and sub out all of the work.  I was looking at doing that but determined a Real Estate License is more valuable for rehabbing/investing.  I would want to have some serious legal council before selling a house I am the Realtor and GC on.  

If you are looking at getting your GC license to hire employees and bid out jobs, then you need to really know what you are doing.  I do find construction to be very common sense based and it can be done without a ton of experience.  I am sure business experience and knowledge would need to compensate for a lack of GC experience to be successful.  I am almost certain I will get my license one day, but I know it is a very challenging field.

Sorry J!  If I would have waited a couple more weeks you would have gotten away with it.  Thanks for the update though!

Sometimes you just know something is a good choice...

All seriousness thank you for the recommendations.  As much as I know I have to learn from a Brokerage my focus is really on the investing benefits.  I look forward to meeting you two at a BWI meetup sometime soon.  

Hello All,

I should be looking to hang my license with a brokerage in the next couple weeks.  I was interested to hear if anyone has a good recommendation for a local Brokerage who caters to Investors/Flippers/Holders in the Baltimore Area.  Baltimore County or Carroll County would be a very convenient location.  Thank you for any advice you may have.