All Forum Posts by: Mindy Jensen

The absolute best piece of advice I got was from my dad, who said always get signed lien waivers from any subcontractor before you make the last payment. This saved me about $15,000 when my contractor skipped town. I felt bad for the subcontractors, but I was in no position to pay $15,000 twice. 

Make sure you have all the materials that you paid for before you give him that last check, too. And make sure that last check is significant, and worth waiting for.

We have a chain link fence separating us from the neighbors. In the winter, it isn't beautiful, but Spring, Summer and Fall it is covered in morning glories. Those things grow like weeds - you can almost water them with bleach and have them still grow. They are self-propagating and produce millions of seeds every year. 

Honda Element. I bought one in 2003 and it has a ton of miles on it - most between my house and Home Depot. Plastic interior could almost be hosed out if necessary. I can fit 6 sheets of drywall in the back with the seats out. 

You are welcome. I think on the surface it looks like a great idea, but you should know the actual costs. Good luck!

There is a statistic somewhere that says a satisfied customer may tell one or two people about his experience, but an unsatisfied customer will tell, on average, NINE people about his bad experience. 

Since this is a small town, if you wish to continue to do flips, the goodwill from fixing this will benefit your reputation. Normally, it would not be your responsibility 2 years post sale, but the small town trumps that.

Good luck!

I am newly licensed in CO. I got my license for several reasons, not the least of which is to be my own buyer's agent when I buy houses to either flip or rent. There are many costs associated with having a license that you need to be aware of before you get your license.

School $700+
State License Test $150
License $75/3 years
Commission Splits $500 (I have seen this go as high as 50% of your commission straight to your employing broker.)
MLS Access $475/yr
FBI background check $35
Fingerprinting $10
Desk Fees $52/mo
Realtor Association Dues $555 (plus $100 initiation fee)

And this is only what I can think of off the top of my head. There are also continuing education classes that you must take - some of them can be free, but the mandatory classes are not.

This is to say nothing of the time commitment necessary to become an agent. CO requires 168 hours of study, but once I finished up those 168, I spent an additional 60-80 just reviewing the course material to take the state test.

If you are going to be doing this full time, then perhaps becoming an agent would benefit you. If you are going to dabble, you will be paying out far more than you bring in or save through paying seller's commissions. 

My state requires new agents to work under experience agents for 2 years before striking out on their own. 

Good luck with whatever you decide!

I try to get it painted on a nice day so I can leave the windows open and get rid of that smell.

Ugh, that toilet. I bet the whole place smells like roses... Is there any major damage that you know of right off the bat? Rodents or insects? You can't keep a place that clean without getting at least ants...

Good luck! I can't wait to see the after pictures.

I don't know the area, but make sure it is priced at or the tiniest bit below what the market will allow. Better to "leave" $500 on the table than have 4 months of carrying costs trying to chase a few dollars. 

Ditto what everyone else said, it is beautiful. What did you use on the floor in the kitchen?

In my MLS system, assistants have their own login, their own account and their own fees. Perhaps you could offer your assistance as an assistant, or just be set up like one. I wouldn't ask anyone for their log in. Good luck!