All Forum Posts by: Joe Schaak

This was a really rewarding project. Sycamore Property Solutions purchased it from a homeowner that was facing foreclosure. She was very stressed out about her situation which included divorcing a husband with mental health issues. We were able to give her a bit more than what she owed. After we finished the rehab, we had her back over and she absolutely loved the transformation. She and her husband are in a better place both financially and in their relationship. The house had some significant plumbing issues that needed to be addressed as well as some electrical updates. Those (along with cosmetic updates) created a super cute and cozy home at a very reasonable price point of less than $180k. The home is currently on the market. Bonus : we were able to split the lot and still leave a very large back yard. We are selling the empty lot for $27,500. It was a blast to be able to have such a positive impact on the homeowner and we look forward to having the same positive impact for the new homeowner that buys this charmer!

Check out the Before/After photos here : 435 Ruth St N, St Paul, MN

A buildable .21 acre (60'x150') lot in the heart of St Paul. Great location convenient to I94, Lake Phalen, parks, shopping, and downtown. A 2013 build on a smaller lot 1/4 mile away recently sold for $287,500.

I've heard that TC Discount Granite is pretty good. I've used Darion at 651-Carpets and have had great luck with them. They can turn it around very quickly and the price is competitive with any other place that I've checked out. For quick turnaround, the granite is the thinner version but its never held up a sale of one of my properties.

I did some research on FundingForFlipping when I first started redeveloping homes about 2 years ago. My understanding is that they basically open up several credit cards with introductory rates of 0% for X amount of months. Then, they can roll it over to other credit cards (in your name) later with the balance transfer offers. They streamline the process and handle it all for you. However, its something that you could do yourself (if you're okay with the hit on your credit score).

@Nick Jordan I've found GC's a number of different ways : asking other investors (least successful), asking my sub contractors, Thumbtack, etc.. The important part that is to always check their references and an active job site.

@Dillon Blesi I paid $143k and hope to sell north of $210k. It was going to be an easier and quicker project with a lower target ARV. Once some code issues were discovered with electrical and plumbing, I wanted to fix them and then decided to do a full rehab.

@Nick Jordan it should have been 30-45 days but my GC really fell down on the job on this one. It took him about 3 months to complete a pretty simple project. Needless to say, we won't be working together again. 

@Laura Thorne Thank you!

BEFORE/AFTER 100 16th Ave S Album

This was going to be a simple redevelopment. However, we discovered some major electrical issues and some very illegal plumbing "solutions" by the previous owner. We fixed them all including a completely new electrical panel. This was also the first time we had some major issues with our general contractor who delivered significantly behind schedule due to poor management. All in all, though, we're very happy with the results and are anxious to have a family enjoying this lovely 4-bedroom / 2-bath home. Click on the above link for before/after photos.

Welcome, Jeremiah! Yes, there are Meetups. You can search for them here on BP or search on MeetUp as well. They tend to meet 1/month or so. Last one was just last week. Other good groups are MNRec, MNReia (some good info but mostly filled with newbies), and Sean Blomquist at Pine Financial hosts some really helpful get togethers. Hope to see you around!

@Bruce Runn, I'm constantly surprised by the city. Things can also vary from inspector to inspector.