All Forum Posts by: Kyle Ebersole

What everyone said on here already. Don't get a quote from someone here. Get a boots on the ground contractor who has experience and has done work in your area. Give them a clear and concise scope of work detailing what you want done and walk them through the property. 

Don't ever accept a quote from a contractor without them setting eyes on the project. 

The book on flipping houses is a great place to start. They will walk you through a flip and give you a template of schedules and which contractors follow which. If you have never done a renovation before, definitely use a GC the first time. Once you have a few under you belt than you can experiment with using multiple contractors, but you will lose money experimenting with multiple contractors your first time. 

Hi Joseph! Here in PA it various, all depends on the deal. I've seen everything and anything go. 

I've seen some of this in the Central PA market as well. Some wholesalers do a very good job with finding good deals, but the majority don't! I have to sift through a good numbers of deals to find one that works, but normally can find enough to pick up 3-4 a month. If it was easy, everyone would do it! 

Hi Joshua! Wholesalers are great to work with as an agent especially if you have a lot of investor clients. It can be a win win for all parties! What I normally do is just add my fee on top of the wholesalers asking price. If its the right deal its a win for all 3 parties involved! 

 I use quickbooks for keeping track of all of my expenses. Not sure if thats what your looking for or not! 

 Makes sense, I like it! For sure will take a lot longer if you are doing condemned properties. Also, good for you that you can do full cash flips, timeline isn't as much of a worry then. Keep on killing it! 

You can't go wrong with a lot of cities right around you! I would stay out of Chester and Marcus Hook, but anything north of you, along route 1 and route 30 are great areas that have solid values. 

A couple of people have nailed it already but it depends on the area and the ARV you are shooting for! Are you shooting for a medium purchase price? Might get away with older windows. Are you going for the highest comp in the area? I'd definitely replace those windows.

Some other questions to think of:

1. How extensive of rehab are you doing? The things you don't replace will stick out like a sore thumb once everything else is new. 

2. Do they work? If they work, try and keep them. If they don't, replace them. 

3. Are they old wooden windows that are in good shape or need a ton of paint and TLC? If they're in good shape and fit your renovation plan, keep them. If they're in bad shape and need painting, might as well spend the money for new windows instead of putting lipstick on a them. 

Hope this helps! 

Hey Joshua, I like the detail that you put into the post! Can I ask how you are spending 4-8 weeks just detailing plans, permits and getting the place trashed out/demod? I try and do all of this within a week after purchasing. I understand permits can take longer depending on what you need. Just feels like taking that long could kill margins pretty quickly. Do you buy with that timeline banked into your numbers?