All Forum Posts by: Joshua Jarvis

I've been wanting to write the "last 3 years of real estate flipping" blog post but I still have this one nagging property.   While I love investing I ran into a problem with an underperforming/overpromising contractor and I'm stuck. 

Not to bore you too much with my back story or personality but I want everyone I work with to feel valued and really want them to hold up their word.  I might even allow them a little "grace" in order to finish something. 

I messed up BIG TIME and just let something go on too long... 

That brings me to the question

Q:  What do I do?  Lower the price or fix up the home?

I have a home (3/2 ranch) with almost no curb appeal.  I'm wondering if it makes sense to spend the money on the curb appeal, the finishing touches in the home or just lower the price?

I know the short answer might be "both" but obviously I'm working on a budget. 

The question arises from that balance of profit vs time.  Does anyone have a good rule of thumb they use to determine when to cut a home and move on from a flip?

You likely won't find them in Gwinnett, N. Fulton or Forsyth unless you market for seller's directly.  I get a bunch of flip worthy stuff from wholesalers all over Atlanta, but the really good ones are not sent out via email anymore. 

There's a lot of soft spots in the floor and a little unevenness.   A GC might be the best in this case you're right, I was just wondering if I had missed an obvious person on this one. 

This next project I'm working on I am a bit concerned about the sub floor, previously the contractor would just handle it, but now I'm wondering what trade is this?

I'm 3 years into flipping and investing and loving every minute of how this business can stretch (and stress) you!  I've had the blessing (and more recently a curse) of using GCs to do almost all rehab on my investments.  I'm back to thinking it's best to be my on GC on this stuff and wondering what's first?

I have my plumbers, electricians, punchout and trim guys, painters, etc... for a 1950's home, what's first (after demo) - Just curious what you guys would say or point out (book recommendations welcome).

Thanks! 

I am doing a seller financed deal with a client and they were wondering if there were any consumer servicing companies (like a property manager) that could set up payment collection, etc?

Got a few sub $200K homes and the $2,000 price tag we're getting quoted for staging seems a bit high.  Any suggestions for low cost effective staging?

Cal,  

If you're looking for where the investor has added the value from $55K to $85K  here it is:

• Banked enough to buy a property with cash
• Did due diligence to locate property
• Negotiated/bidded and competed to win said property at a great price
• Insured clean title
• Secured property
• Cleaned out property to make ready for an investor

If this helps you rationalize why you might want to pay more for a property then someone else paid for it a few months ago then great.  I'd hope at least on BP we'd evaluate the deal itself and not just rely on a 30 second trip to zillow.   

$50K PROFIT FROM THIS REHAB

Link To Photos

With an after repair value appraisal at $165,000 and a purchase price of only $84,900 this East Point deals is perfect for consistent veterans and newbies alike. The home has been "pre-habbed" and ready for you crew.

Here's your repair break down.

• Window replacement - $3,700
• Repair/replace drywall - $1200
• Bathroom total replace - $3,000
• Refinish hardwood floors - $2300
• Kitchen cabinets - $2100
• Granite counters - $1300
• Appliances - $2100
• Paint interior - $1700
• Kitchen floor tile - $1250
• Replace all doors and hardware - $1400
• Replace light fixtures and Electrical repair - $1600
• New Hvac - $4000

---------------------------------------------------------
Total Repairs - $25,650

Call me at 770-406-6123 if you are interested. Just let me know the time and date you want to see this and I will set it up.

TERMS

• $2,500 Earnest Money - Seller or Seller's Attorney To Hold
• Seller's Attorney
• 3 Days Due Diligence or less

Want to be notified first before we post to BP - add yourself to our list - http://eepurl.com/byc9Vj

Keller Williams agent conference.  I'm going and I know there's other agents, agent investors in BiggerPockets that might be there, so it's just a message for that.  If you're an investor and in downtown Austin and want to meet up I'm game for that as well.