All Forum Posts by: Eric DeVito

Thank you Mr.Allen. I will make note of that.

Okay, thank you all for the information. I really have no knowledge of what should/has to be done in a house. Just basic stuff such as painting a wall, removing carpet, kitchen renovation of course is easy to point out. As far as pricing materials I have no idea about that. I will take the advice of getting at least 3 different estimates and take it from there.

How do I go about creating a accurate scope of work? Do I bring in a home inspector and get an idea of what needs to be done off of what he/she says? As a newbie I am sure my "scope of work" will not be entirely accurate.

As a newbie who is doing research for his first flip. How do you know if a contractors estimate is to high or to low? For example say the contractor tells me all the work needed to be done will cost 40,000, but in reality 20,000 is more then enough and the house can still look good and be sold. How do I know what is right/wrong basically? I don't want to get ripped off.

Mr Scott already purchased it!  Waiting for it to come in mail. Thanks. 

Hello all! I would like to know if anyone can break down a typical flip process start to finish in simple terms just so I can get an idea of all the stages I will be facing. thank you!

Hello just a quick question here. When exactly do I have a home inspector come in to check a property I am interested in? Do I have to make an offer first or is this done before the offer? Same with bringing in a Contractor to determine my Rehab Cost. Is this once I closed on a property? Just confused on to do at what step and who to bring in. I know that I will be checking out a lot of properties before jumping onto the first one I see so it wouldn't make sense to bring a contractor to all these homes when I am just browsing with a RE Agent, correct? Thank you.

Thank you for the help.

thank you for the tip. I will use your rough estimates for now. How would I go about contacting these various utilitiy companies? I do not know what company runs what in philly area.

Hello all, I am just having trouble how a  newbie like myself can figure out monthly cost when flipping a house. For example, I am living in NYC and I plan on flipping in Philly, PA. How do I determine the monthly cost in terms of insurance, gas, water, sewer, etc.. I have no idea what to do/where to start.