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All Forum Posts by: Christopher B.

Christopher B. has started 26 posts and replied 686 times.

Post: Stabilizing cinder block foundation (basement walls)

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

just go over the tile and you've got no issues. Floating vinyl planks and problem solved. Good luck Doug, let us know how it goes.

Post: Doing Due Diligence During Deal Discovery

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

imo it's going to be hard to rely on a contractors bid until you find a contractor with workmanship and pricing you can afford. Contractors can be $20k off from each other. I had a dude try to tell me it was going to cost $7k to do some clearing and grading on a current rehab, it will cost me under $1k. Gotta learn your local prices.

Post: Doing Due Diligence During Deal Discovery

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

no it didn't, fortunately I'm actually doing this rehab for a friend so it's a "customer job" and they can pay the extra because they want to live there. If I was selling we'd still see a profit on it though, they got a good deal. I've done enough projects to have a good idea of costs, I typically add an overage of around 10%, more or less depending on how confident I feel in my repairs estimate. For line items that can vary greatly I'll generally overestimate a bit until I get more firm pricing as well, I look at it as stashing cash under the mattress for a rainy day. Just have to be careful about not overestimating repairs as much as underestimating, don't want to price yourself out of a good deal. 

Post: Poll: How Much will the Difference in these Kitchen Appliances Add?

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

I'm a fan of the French door and think they give a higher quality look and feel vs the side by side. However, I am currently going back and forth on how much more price they get me and/or how much faster they help sell my houses. I completely agree on the kitchenaid comment above, they've got a style people love and people know the name means higher quality.

Post: Stabilizing cinder block foundation (basement walls)

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

I'm doing a house right now that is getting that same treatment, it's rough and getting around 14 steal i-beams, 2 helical piers, concrete slab jacked, and an all new waterproofing system across the front of the house along with regarding of the yard. We paid a structural engineer $400 to give us a report on what to do and the foundation company provides a 25yr warranty on all the work. It was a concern for me in what the end buyers would think but after some discussions with experienced agents and investors I pulled the trigger. If it works out I won't hesitate with tackling structural repairs again. I think most investors are afraid of houses like this, they want the low-hanging fruit. Ultimately, I feel if you have a structural engineers stamp of approval and/or a warranty from a legitimate company on the work completed then you'll be fine. 

Post: Doing Due Diligence During Deal Discovery

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

Doesn't hurt to get a 2nd set of eyes on a house. Reality is sometimes you can't see it though. Just bought a house that had major termite damage but there was no way for us to see it until we had it demoed. Just don't get yourself into skinny deals and you should be ok. 

Post: First flip

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

dito j Scott, all about the competition. Yes on windows and all new appliances. Why not go with laminate flooring? Can probably find it for similar cost as vinyl planks and it's better quality look. Down here in TN $250k is considered a pretty nice house, buyers would never go for vinyl planks in a living room, maybe the kitchen. Home Depot sells allure vinyl planks, I've used it in a couple sells and rentals. Runs around $1.30/sf, super easy to install and looks surprisingly good if you go that route. 

Post: Best kitchen cabinets in quality and price?

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

home Depot has low quality cabinets. Spend a little, not a lot, more on solid wood cabinets for better durability. I buy rta's for my rentals from a local salvage/wholesaler. They assemble them in their store. I've had them for 5yrs in 2 of my units and not had one issue out of them. I probably spend $300-400 more but it's worth it, replacing a damaged sink base due to water damage down the road will be much more expensive. 

Post: Window in Shower. What would you do?

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

I hate windows in showers. I'm an admitted over remodeler, working on that. For a rental I I'd take it out unless it was masonry siding, that way I never have to worry about it again. I like to set rentals up for lower maintenance long term as much as possible. For a rehab to sell Ive always taken them out, I may try leaving it on my current project. 

Post: Do You Do A Home Inspection On Your Flips?

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

Home inspectors, at least in TN, simply need a high school diploma and a couple hundred bucks to be certified so their value is debatable. I've only used an inspector once but I try to be thorough and budget conservatively. Only once have I missed a major issue, termites, but I don't think an inspector would have caught it either. So like others mentioned it comes down to your experience and confidence in yourself, it never hurts to have another set of eyes on a house.