All Forum Posts by: Letitia Harris

I'm a fairly new flipper, I've only done 6.  I have some input I hope you find useful. 

You're lucky, you're saving a lot right off the top, by both you & your wife being in the trade! 

Why the 3rd bathroom?  Put that money into KILLING that pink bathroom with that dropped ceiling over the tub, and make it nice.  Double sink, soaking tub, 7 foot tall shower, double outlets on each side, and you're gold.   It's too easy to overdo it/over improve.
I see that fences in the front yards don't seem to be happening in that neighborhood.  If you're concerned about the fast traffic, maybe some kind of barrier fence along that side would improve things?  

The kitchen cabinets look nice.  Painting them should be sufficient, IMO.  

A lot of people freeze in fear when wanting to get into this.  The only way to get over that is to do it!  It sounds good, and you know your skills, so go for it and embrace the experience!
Best, Tish

UPDATE:  I did get this house, and wound up taking over 1/2 the chimney off, and closing it off.  We painted the house 2 toned, and the 2 colors go across it, making it almost invisible.  Now the house is up for sale.  The new owner can opt to put in a gas insert, or just keep it as ornamental, since it's attractive.
Thanks for you input everyone!  

Hi,
A few of us have had some meetings in Merced, it's been great!   
We'll have to pull another one together, with plenty of notice.  Weekends can be tough, maybe Friday evenings?   
Thanks,

Tish

I just found a plumber for my brothers house in San Diego.  I didn't use CL, I used YELP.  The reviews people can leave are educational.   That said, one of them came in with a ridiculous bid, compared to the other 2.  I'm talking over twice the price!  This is for a total re-pipe.

So, CL is good for finding handymen and such, but for a plumber, I'd stick to YELP, or Home Advisor for your advertising dollars to do you the most good.  CL generally appeals to people looking for dirt cheap bargains, so if that's who you want to deal with, then be ready for them.  

Michael, why yes they do!  It's like they didn't do homework, look at comps, etc...  

Francois Acosta, you get there, and are assigned a number after filling out paperwork.  In Merced, you're required to have money orders to pay for the house with you.  Then they tell everyone standing around if the houses listed are actually for sale that day, often they're not.  If they are, then they'll start the bidding, and it's just like an auction, you're bidding to win.  I don't know what happens if you actually win, since I've been outbid each time.   It looks like more paperwork, signing over money orders, and I don't know if they hand you a key right then or not. 
I hope that helped.  

Yes, Merced occasionally has auctions on the courthouse steps.  I've attended several.
Do the words "Irrational exuberance" mean anything to you?  It's just nuts what happens there.

I lightly stage my flips.  It gives the buyers a nice sense of home.  I have a collection of furniture that goes together well, and use it on each house. 

I use gorilla hooks to hang pictures, clocks, etc...  They hold a lot of weight.    One little dab of caulk fixes the tiny hole, and a fingertip dab of paint.  I keep a screw top lid sample jar of the wall paint, for those quick touch ups.  A couple minute repair is worth it to hang nice art & mirrors on the walls.

Hi all,
I'm looking at a prospect that has a fireplace chimney that's separating from the house.  It has pulled away 2 inches at the top, towards the roof.  It has some issues that'll need repairing, along with the separation issue.  The house has central heat, so I'm considering removing the chimney above the roofline, repairing the roof, and just having it as ornamental inside.  It looks nice inside, but isn't necessary to warm the house.   I've never dealt with a fireplace before.   Thoughts??
Ideas on what this might cost to repair?

I wouldn't do that.  Realtors can show up any time with potential buyers, from 6am to 9pm.   The sale of the house is more important than making a few extra bucks.  And of course you also run the risk of the house getting damaged.   Just my .02, but I vote no.

I held a flip for 6 months (long story, & don't try to sell over the Holidays), but I refused to rent it or Airbnb it, so it stayed pristine.  My holding costs weren't high, so it wasn't worth it to me. 

I had a pre foreclosure fall in my lap like this.  Get to a title company, fast.  The owners will meet there, bring their paperwork, draw up a sale agreement, and the title company will handle it.  Just like others have described.  The late fees accrue fast, so each day is lost money.  
It was my first flip without a realtor, so that was scary.  However, I used the same title company that I used for my other flips, that was assuring.  It was actually surprisingly easy, and FAST, if you're coming in with cash.  I don't know about financing it.
Good luck!!