All Forum Posts by: Nicole Pettis

@Harry Williams Overall house looks great! Up to date and all the colors are spot on.

However I would get new photos of the finished areas and replace them with the old ones on MLS. The other things I noticed is its lacking warmth. So I suggest adding some textured blankets on the couch & or chairs. Adding a basket or two by the furniture. Also you need some color in here as well. Even if you add it in centerpieces on the dining room table. Like a bowl of green apples, or lemons in the kitchen. Also I would add some greenery(fake plants) in the main open area. Then as a potential buyer, I would try to figure out where will the TV go in the only living space for this home. Which means I would re-arrange the living room furniture around and show where you could add on. I also noticed there is no chandelier over the DR table. Then for the bathrooms, I noticed there aren't any towel hooks or bars. Again I would add some warmth in here as well, with flowers & candles. I would also add some chairs around the fire pit.

22 showings is great as well, but you don't know if these are "true buyers". they could be other flippers, agents, tire kickers. Who knows.

However I do know it can be very frustrating to see a house like this sit on the market. But know that buyers are super picky in these prices ranges, especially when it comes to rehabbed homes. 

My suggestion is to have friends or family walk through it and look at it through a "buyers eye" and see if they have any input on things that could be improved. 

However at the end of the day, it usually comes down to price. Buying homes is an emotional thing and what a house will sell for is what the buyer is willing to pay. So you have to really look at your price.

Hope this helps! Good luck!

Repose Gray is good, also a go to color of mine is Agreeable Gray. They use it in new builds as well. Its just a nice neutral gray that goes with just about anything. Then Lt French Gray would be my third choice, this one works great as well.

Happy Painting!

@Lee Lockhart like everyone has mentioned, it depends on your goals & strategies. Currently I live in Milwaukee & it has seen huge growth & appreciation in many areas. You can still get good cash flow here just depends on the area.

My family lives in St. Louis & KC & both places have seen growth. Again, just depends on where you want to invest & what your goals are, not to mention the amount of money you have to invest.

Once you have that outlined & defined it will help you decide on the area. 

@Amy Hu if I understand correctly, the apartment buildings are taking 10 months so far for completion?

However being that you are the owner, aren't you the one that sets those appointments up for utilities? If so, I would follow up with the utility companies and see if everything is on. If they are, then I would let your contractor know that she has 2 days to get back in there working, if not, she will be fired. Then just move on.

What I have learned is you have to be pro-active with the contractors otherwise they will take advantage. If they don't show up for 2 days straight, then start looking for someone else. Time is money as you know. 

Good luck!

@Hunter Harms Welcome to BP! 

Fantastic idea of coming up with systems, every successful real estate investor has them. But along with systems, don't forget about process. You need to have solid processes in place that allow your systems to flow. For example, what will be your hiring process for contractors? What is your process for the rehab? What is your process for payment? Contracts? Final punchlist? Communication? 

Hiring a GC is wise, I highly suggest it, however if they know you don't know anything about rehabbing and cost of rehabbing they will take advantage of you. So you need to educate yourself, not so much on how to be a contractor, but to understand the process and cost of a rehab. 

While you are pulling sku's for materials that you would like to use, you also need to figure out how much per hour or per sq foot something will cost to install or do. For example:

You choose some nice luxury vinyl tile to use in it. The cost for the tile is: $2.79 a sq ft. So how much is a contractor going to charge you to install? $2 a sq foot? $3? You need to know these numbers as well to have a good understanding of your rehab cost. 

Same with paint. How much per sq foot does it cost for a sub to paint? I pay my guys $1.50 a sq ft. But it differs from area to area. 

My point to all of this is that while, yes, its a great idea to get that binder together for final looks, you also NEED to understand contractor prices in your area as well and get processes in place as well. How can you learn this? Call around. Call painters, drywaller's, roofers and so on. Ask them how much they charge per sq ft? Or in the case of drywall it will be per piece. But you have to know these numbers to have a successful flip. 

Hope this helps! 

Great job @Nicholas W.! Looks great on the interior and the numbers are awesome. Maybe I need to change strategies to the BRRR method instead of flipping;)

Where is this beauty located? 

Welcome @Oliver A.! We all start from somewhere:) My brother in law was station at Fort Bragg. Keep educating yourself, this industry is never ending and full of hills and valleys. But just remember "quitting is not an option!" Good luck!

Great job @Kyle Mack! You've come a long way:)

@Doug Woodville 

Haha! Thank you for your input. Much appreciated:)
I just wanted to see if other women have had issues with inspectors. 

I agree the scope shouldn't be his concern either. However I didn't know how to say "no". Just want to get this project wrapped up.

@Mags S. You are correct. They are drama! I will stay focused on my goal.

Thank you for your advice!