All Forum Posts by: Jesse Lynch

Hey @Paul Zofsak - I tend to find that specialty stores are typically a bit more expensive than the big box stores.  A tile shop will have an incredible selection, but at a higher premium.  There are "discount" stores, surplus/outlet stores and habitat for humanity "restores" in my area that have great deals, but a very spotty selection.  They're worth checking out at least once.  My Building Material Outlet has amazing prices on cabinets, but that's about all I go there for... When it comes to flips I'd almost always rather save myself the time by just running to Home Depot or Menards.

Popcorn is old, but not old enough to be cherished.   I removed two rooms worth of it in my most recent flip and I was so glad I did.  Flat or Knockdown are both perfectly acceptable right now, BUT if you're doing a buy and hold/long term rental situation, I think flat is a safer bet.  40 years ago popcorn was all the rage.  In 10 years the general public might loathe knockdown texture, but I don't ever see flat offending anyone.

Hey @Izzi S.

Here is a good PDF of what an inspector might use.  Potentially too thorough for a home flipper though, because there are a lot of "givens" in regard to things that would need to be replaced.  That being said, if you could fill this out during a showing, it would make for a very nice list to estimate rehab costs!

http://www.totalhomeinspection.com/totalhomeinspec...

I also think this is a very valuable reference tool in from the Bigger Pockets Resource page.  It's a Rehab Cost Guide!

https://www.biggerpockets.com/files/user/Alneal/fi...

Use the two in tandem, and you'll have a pretty decent picture of what your rehab costs are going to look like!

Thanks @Chris Schadyand yep! We play in the cities every few months.  Our next show is at Triple Rock in late December.

Originally posted by @Daniel Okon:

@Dylan Swanson could you explain "driving for dollars" a bit? Heard about it and read about it but still not 100% sure what that means. 

 Hey Daniel!

Fundamentally, "driving for dollars" just means driving around your target/farm neighborhood, looking for properties that appear vacant or neglected, with overgrown lawns, broken windows, etc., with the intent of contacting the owners of those houses (sending a letter) asking if they're looking to sell.

Hope that helps!

I think a finished basement will definitely add value in most situations. Most basements will be less dollar per square foot compared to the rest of the house, and short ceilings will often reduce the dollar/sq ft of the space, as well. BUT, if you can add a bathroom and a bedroom (or two), there is no way that doesn't add value. Try to keep the framing where it makes sense, any plumbing and electrical, and it should be well worth the money to finish it.

They've both been mentioned before, but I think you have two great options, which have different strengths. Granite: Expensive. Durable. Beautiful. A selling point. Installation is usually included in the base price. (Side note: Sometimes Quartz is the same price per sq ft as granite. And quartz is more resistant to burning and doesn't need to be sealed) Butcher block: Inexpensive. Extremely easy to install. Visually attractive. Can be refinished a few times, and even stained to suit different looks.

I've seen at least one mention of this, but I used fabric softener mixed with water in a spray bottle 50/50.  It couldn't have been easier!!  Just spray from the top, down, get something to start the peeling, and then just slowly peel entire sheets of paper off the wall.  I read somewhere to go to the dollar store, and buy the cheap softener, because it works better for this.  The good stuff is intended to be "gentle," but you don't want gentle when it comes to wall paper.  I got an entire room stripped of wallpaper in probably half an hour with this technique.

That being said, maybe I lucked out.  But, it's worth $1, and half an hour to see if it's doing the trick.

I've also used this same technique to remove that awful adhesive people use to glue vinyl flooring over hardwoods.  Ugh.  Saved the hardwoods though!

Hello!

Just an introduction.  My name is Jesse Lynch.  So far, I've flipped two houses in the South Minneapolis area.  They were "live-in" flips, both of which profited around 20k after realtor fees, closing costs, etc.  With no employment history in construction, I did most of the work myself, all of the design, self-staged, and learned mostly everything from books and the internet.  Naturally, I find I much prefer the design and planning to all of the manual labor.

Here is a B&A of the kitchen in my most recent flip:

I sing, play piano and write guitar in a signed, touring indie band, and I'm aware that 99% of my real estate peers are not at all impressed by my career in music, which does not generate any substantial income and causes me to live in a van for half of the year with 5 other guys.  It is, however, what I love to do, it's allowed me more life experience than most people my age, and is a huge factor in why I find real estate attractive.

Here is a B&A from my first flip:

I find the Detroit market extra fascinating, and I want to get my rental property feet wet while the town is still in repair.  I can also acknowledge that this is not a popular opinion, especially on the podcast, but still, I like a challenge.

Thanks for your time, new comrades.  I look forward to meeting you.