All Forum Posts by: Matt Taschner

Thanks @Ryan Dossey 

I also like to see the before and after pics that people are willing to share.  I think BP is a great place to get ideas for future flips and see what has worked for others.

Thanks @NA Jones  I did sub out most of the work, the hardwood floors, tiling the bathrooms, carpet, granite.  Also some plumbing repairs were needed but nothing major.  We basically handled the appliances when the floors were done, removal of wall paper (I hope I never see any ever again, lol) repaired the walls, paint, hardware, installed new stairs and applied poly.  On our last flip my partner and I did most of the work and it added up to a lot of man hours.  I would have to say my wife is much happier with me on this one being home on most nights and weekends. 

Thanks @Dell Schlabach , Yes, this was my 2nd flip.  I am excited to get started on the next one. 

And here are some after @Dell Schlabach 

Here are some Before

Hey everyone, just an update on this one.  We finished the rehab and our agent, @Elyse Corcoran  was able to find a buyer prior to list.  We were going to list at $229000.  We accepted a pre list offer of $236000.00 with us paying the closing and are scheduled to close mid March.  Total reno cost came in at 23500.00.  On to the next one. Thanks again everyone for your input. @Andy Chu 

, @Dell Schlabach 

,  @Theresa Younce 

I received this response from the short sale attorney and wanted to share in case anyone runs into something like this.  "Regarding changing buyers at this stage:  we will have to start at the very beginning of the short sale process.  Changing a name on a PA results in decline of the existing offer and re-start with new buyers.  This will cause a major delay in the approval process and the lender may take 90-120 days from the point of the new PA."  I guess it is decision time but I think this will still be a great property to have in my back pocket when the time comes.  I think I will still go for it.

Thanks @Peter MacKercher it is too bad because we get along great but when it comes to changing out old to increase value he is not always on board.  Even when it is obvious.  Just because he has golden oak everywhere in his house does not translate into that is how the market is trending.  It definitely pays to do your research on comps both active and sold and not by what you see when you get up in the morning.  Lesson learned.

Thanks for the feedback @Elizabeth Colegrove I was hoping there was a way to do this, as long as the bank cooperates.

Hello fellow BPers,  I am in the last stage of getting approval from the sellers bank on a short sale.  My current partner and I are not seeing eye to eye on renovations needed on our rehab business so I feel it is time go a different direction.  We have successfully completed 2 flips even though we have not always been on the same page.  Has anyone had any experience changing the name of the 2nd investor on the purchase agreement?  My lender and agent are looking into this for me but I was wondering if anyone has done something like this.  Thanks in advance.