All Forum Posts by: John Espinosa

J Scott I'm not sure how it works in your locale J, but I've found that in my city they also allow you to use the conforming average of the setbacks of the houses to your immediate left and right.

I don't see why they would have an issue with the variance however, but if not it might be worth it to ask about using the average of setbacks and see if they have something like that in the codebook.

Everything on your list can be done with the stock video editors on MAC and PC.

Not sure what the one for MAC is called but the PC program is Windows Movie Maker.

Sony Vegas is easy to use and the cheapest version can be had for under $100 if I remember correctly.

Now if you don't want to do the editing yourself, before hiring a professional. Check out Fiverr. Plenty of video editors on there that will edit your videos for $5, and most can get it done in 24rs. Alot of them offer extras, but be aware the $5 for extras can add up.

Let me know what direction you go and ofc ourse share the videos when you're done.

Brandon Turner The color is Marsh wind by Sherwin Williams Brandon. However we edited the photos a bit so it may look bluish. Its actually a light grey color, but we found it to be quite a lovely neutral color, everyone loves it and we're thinking about making it our goto color.

My company is in the process of pumping out green energy savvy and healthy retrofits in our local market.

I say savvy because we go to the extent of putting out a better product than the average home "flippers" in our area, yet we don't necessarily break the bank.

Here is the medium ground we have found. And what we do with our properties in order to consider them green and a better product.

We are providing our homes that we flip with a much better insulation package than our competition. Our direct competition (investors we personally know, as well as others) insulate by code and only when it is needed. We rip out all drywall and plaster every time.

We are putting in much more efficient HVAC and water saving appliances in all our green retrofits. We shoot for 15 seer and above and the most efficient water heaters we can find while the competition is putting in the cheapest units and most standard wh's. we put in all low flow faucets and showers.

We replace non efficient windows and lighting fixtures with energy star rated items.

We use non volatile or renewable materials such as lowVOC paint, eco carpets, cork and bamboo flooring.

We hire a company or do it ourselves air sealing throughout the entire home.

Ofcourse we properly document everything we do that we feel is above and beyond a typical flip and have a third person energy audit completed in order to justify to the end buyer and appraiser why our home is better than a comp home.

We find that buyers love hearing from a certified professional that the home we are offering will cost them substantially less on their monthly bills than the competition, and that it was built with healthy and family conscious materials.

Our homes are not exactly getting certified for energystar or leed or anything like that, however we are getting really good HERS ratings and we find properly explained to prospective buyers they "get it"

In conclusion, by picking the upgrades that we feel matter and directly impact our end buyers monthly bills and health we find that

A. Yes we are spending on average 5-10% more on rehabs than the competition
B. We are enjoying awesome average list times
(We have a track record of 14 days being the longest it took for an accepted offer)
C. Its a hell of a lot of fun and we feel good about our product at the end of the day.
D. Building codes are changing everyday.... alot of the things we are doing now can and most likely will be code in the future anyway... we're just ahead of the competition in our eyes.

This is like the time I found an old beer can from the 80's, only it wasn't worth millions, and instead of getting it appraised, one of the laborers drank some of it and threw it out...

Jesse I believe you have to make a company profile, I think thats how I did it.

Emily Dixon oh yea definitely! I like to think I'm a good judge of character. With craigslist I can usually tell whether I'm not going to work with someone within the first 5 minutes of meeting with them. I automatically throw out someones bid if they are just waaay off compared to everyone else. Only way to protect yourself from craigslist scam artist is to have multiple quotes, ask for references, and go with someone in the middle of the ballpark.

Manuel,

Are you a wholesaler or a flipper, or a mixture of both?

I don't try to rush an estimate because whatever I come up with will affect my offer price. Ofcourse the longer you've been doing the faster you'll get. But I have yet to know anyone who can glance over a property inside and out and have a reliable number everytime. Only time I see this done is when you or someone have already flipped an identical property like next door or something and the properties are identical in the work needed.

I can understand when its several properties daily you are looking at, if thats the case maybe step it up on the due diligence before you even come out to any house therefore your not wasting time on the skinny deals.

But if you are a wholesaler, I appreciate you taking the time to do this for your clients. I hate hearing from someone "quick 5k rehab, paint and carpet and your done"

Keep up the goodwork and dont try to be too fast that you miss things.

Scott here are some things I have done in order to find good contractors who can give you ballpark estimates on the fly. However, I am a firm believer that if you are going to be in the rehab business you need to start learning the pricing for all the trades in your area. After a while, and a bit of experience you will be able to start adding these numbers in your head during initial walkthrough. (keep in mind, this doesn't save you from unforseen problems)

1. Drive through neighborhoods and spark up conversation with crews you see already working on other properties. This strategy works great if they are working near a home you are rehabbing or have interest in. Here is a quick conversation starter I use all the time

"Hey man! Those windows your putting in, they look great and I'm looking for a good window guy myself... you see that house right over there? (pointing) Yea you think you could do something like that for me? mind coming by and taking a look when you get the chance?"

This has worked for me before, and it is how I found my current siding guy and roofer. Not only is it convenient for the contractor, but you get a first hand look at the quality of their work right off the bat. Can't beat that

2. A tactic a lot of wholesalers use will be calling up general contractors on craigslist asking for a quite or bid on a property. They will say something to the effect of, "Hey I'm trying to put together some estimates for rehab on so and so street, are you free sometime to come by and take a look? I can pass on your estimate to the investor who purchases it..." something like that. Of course you could always offer these contractors lunch or 20-50 dollars for their time. I've done both.

3. The best way I have found reliable and accurate contractors to give me bids is by simply asking other investors. This is when being part of and active in your local REI group becomes valuable. In my REI group its not uncommon to find contractors and subs attending our monthly gatherings. When you mingle with these contractors usually the first thing they tell you is "oh yea, I've done work for so and so and so and so"

Write their number down and then of course verify with whoever it is they tell you they've worked for.

4. On very big jobs I will sometimes put an ad on craigslist myself!

Title : MULTIFAMILY rehab now accepting bids...

Big project accepting bids for following trades
FOUNDATION WORK
FRAMING
HVAC
ELEC
PLUMBING
ROOFING
ETC...ETC...

In my experience your phone will ring off the hook, gather emails and phone number... send a mass email, and have yourself a big contractor party!

Good Luck!

Mike,

Welcome to BP, as you may already know this is the place to be for awesome help and advice, as well as an incredible library of knowledge.

I'm always happy to see another Virginian on the forums! My company will be expanding into RVA soon. We hope to be in your area as well as further north around Alexandria & Fairfax by the end of the year.

If you are ever in Hampton Roads never hesitate to let us know, we are always open to network.