All Forum Posts by: Kevin Ivey

Yes most buyers expect to have appliances and not have to have the extra expense. may be able to skip a fridge as those were kind of personal. But if you have a buyer on a budget, they're going to need the appliances to be installed in order to afford your house since they know they're gonna have other costs in moving in buying $2000 worth of appliances would probably be too much of a pain point. Concern worry for them to buy at your house.

I just want to know where you're finding these deals. Here in WA state it seems impossible to find a BRRR where you aren't leaving 50-100k capital in it to break even cashflow. I flip houses from. foreclosure auction and can't make the math work. With the high price to rent ratio here.

TIA

Typical here in WA is 50% up front 25% at mid way of work and final 25 % at finish.  This is usually if they do materials. Labor only can be a little different since they don't have the upfront materials expense.  

No contractor here is doing weekly pay on Fri since that's basically an employee and changes all kinds of labor law and things

But it can vary just found one that is going to do a siding job labor only all the pay at completion.

Typically your buy and hold investors are looking for a deal to create cash flow or force their own value add.  So very different buyer and margin.

A house hacker might value a move in ready duplex.  Or look at condominium redefining the property to a 2 property condo.  More places are allowing this in an effort to encourage dadu 

as a remodeled I always think about repairs and replacement.  tile maybe more durable and longer life but will look more dated sooner and expensive skilled install.  Tear up will be torture for tile.

keep an extra box of whatever you use for eventual repairs.

When you list it on the MLS you offer a percentage to the buyers agent, as you should know.

  I can pay it make my money and still feel the buyers agent didn't warrant the money when brought in at the end of the deal.

  I understand and feel bad when an agent shows a zillion house writes losing offers and does a lot of leg work.

I feel the same frustration with so e of the buyers realtor fees.  We had one flip the buyer found us on there own, had their own lender lined up, and then brought in a realtor to do the paperwork and that was really it an they made 30k of my money 💰.

another deal they again buyer found us I did the showing myself they made a verbal offer, I recommended an attorney and a reasonable realtor.  They were told by a friend to get a "local" realtor who then proceed to tell my wife/realtor how she showed her clients our property (lie) and cluster up the process as the office admin did all the real work.  Then I offered 2.5% for the buyers agent she charged the full 3% with them paying extra at closing 🙄 this is why there is all the law suits!

I have done cash for keys many times.  and a big believer in starting a conversation about how can we make this transition doable for you.  They should know this is coming as it usually takes 1-2 years for the banks to auction the house.  

Big things is be realistic on timing and maybe provide a mover and or storage unit deposit as they may not be able to figure that part out on their own. I always a little under my target amount ( a month interest and half the cost of the attorney) so they can negotiate.  I ask to take a walk through and document the current condition as my agreement states they can not damage the property during this process. 

and of course don't give them anything until you have walked through verified they are out and have voluntarily handed over keys. 

Best of luck! let me know if you have any other questions!

if you have all of that I hope you have a screwdriver also.  that's a pretty intensive list more than most home inspector bring 

If you did a full repipe and gutted the entire property then I assume (in all that means) that there were permits pulled and this should have been caught when the inspector did their rough in walk through or atleast the final occupancy inspection.