All Forum Posts by: Nate Parkyn

Tim - this is a great way to get into the business. I'm on my third house that my wife and I have purchased, moved into, renovated and then sold for a killer profit. If you can stay focused on the end result and put up with living in a rehab it's not that bad.

The first thing we do is clean and paint the biggest bedroom and seal that off as our "clean" space. If you can fit a bed, dresser, couch and coffee table along with a tv in the room it goes along way in keeping you sane.

Also a major plus is buying a home with 2 bathrooms (or at least 1.5). That way you can use one as you rehab the other. If you can't get a house that works with 2 bathrooms my advice would be to join the closet gym to you for a few months and use their showers. You'll be taking enough trips to Lowe's and Home Depot throughout your rehab that you can use their facilities as well.

Also depending on how much stuff (furniture etc...) you already have and how much you like it I would also advice getting a storage unit close by and keeping everything there until the rehab is done. It's much easier to work in an empty house that working around furniture and trying to keep it all clean.

Good luck!

Robin - great info and love the craigslist shout out.

For every one of my rehabs everything that isn't in pieces or just plain trash I list on craigslist. I've given away old mirrors, light fixtures, cabinets, vanities, anything that is metal or can be recycled, window treatments, I've sold kitchen cabinets, counter tops, anything left behind by the sellers: sofas, old lawn mower, rugs, lamps, old appliances even the kitchen sink!

Anything you can keep out of a dumpster is win win for everyone. Keep up the good work!

Thanks Will...I'll keep you posted.

Thanks everyone for the great comments. To be honest I posted the question with the thought in the back of my mind that everyone would say put in the new windows and that would be the motivation I needed. But Simon and Will....you had me convinced that I should take another look at them, paint them and move on. So over the weekend I did.

I went over each window and started to sand and clean each one up. During my day on Saturday I realized that there are 5-6 cracked panes throughout the house as well as most of the glazing on the outside of the panes was shot. Some of the locks didn't line up properly and a couple of the old pulleys stuck pretty bad. All things that would come up on the inspection.

Taking into consideration what everyone said and the current state of the windows I decided to go with new ones. I originally had money in the budget to change them but with some unforeseen water issues in the basement I used some of that money to make the repairs. I didn't use all of it so the total cost will only slightly put me over budget. But I think it's worth it.

I ordered them today and they will go in next week giving me just enough time to finish everything else, then paint the trim and get the house listed. Hopefully everything goes smoothly.

Thanks again for all your comments.

Hello all. I am about 85% done with my current flip and I am having trouble deciding on whether or not to install new replacement windows. I'd love to hear from all of you on what you think I should do.

Here's a little info on the project.

The house is a 3 bed 2 bath brick colonial in a top of the line neighborhood just outside a major city. My ARV for the house is $425K - $460,000. The house is 63 years old and has 14 of the original 6 over 6 or 8 over 8 gridded wood windows and an additional 3 in the finished basement. They are wood and most are in pretty good condition but some need a little help. They all need to be scrapped, sanded, caulked and painted but I think they would look very nice in the end.

There are two almost identical comps that both just went under contract and one had new windows and one had the original ones - so no help there.

My real question is, since I'm nearing the end of the project and I'm very close to reaching my budget to I push it a little for the windows and will I get my money back on new ones?

I've been going back and forth for the last month and need to make a decision asap. Please help to convince me one way or another.

Thanks!

Jonathan, where in PA are you? I'm an investor/rehabber in the Philly area but I also have my RE license. If the house is anywhere in the Philly region I'd be happy to take a look at the deal and give you my two cents. Also do you know what bank holds the loan? Each one is different but there are a few in my area that seem to be a little more aggressive in taking lower offers.

My advice on making an offer - Banks don't want houses they want money...go low and see what happens.