All Forum Posts by: Wayne V.

I'm in on the wrap around porch to enhance the period of the house. It will broaden the first story of the house making it seem larger and it will break up the tall facade. Once furnished it adds a charming and pleasant outdoor room for the summer months. Envision friends over for a Mint Julip or a Pimm's while relaxing in comfortable chairs on a warm evening. I'd also suggest staging it a bit and you're good to go on at least recovering the cost and most likely increasing profit.

Ditto on an interesting paint scheme and improved landscaping. It looks like a nice house. 

If the hardwood in the laundry area is in decent shape, I would just "screen sand" it and apply a couple of coats of WaterLox clear finish. It's often used for bar tops and is very water and wear resistant.

I agree that carpet in the master bedroom is a plus. Find a carpet & Tile place that does hotels and motels. They will have large remnants of nice looking carpet usually at substantial discounts, plus their installers are usually very good.

Michael is spot on with his advice. If you want to document that the repair is up to snuff, have a local building codes officer inspect the work when finished. 

Hi Sharad,

How are you finding your deals? 

Sorry for the typos / auto corrects :-/

Skate = software

UDA "has" online management, not "had".

I use a package called UDA which is the skate version of the RS Means estimator books. RS Means has been pretty much the industry standard. UDA software is a proprietary spreadsheet based compilation of very detailed workbooks (previous versions used locked down MS Excel workbooks) that is tightly linked to Quickbooks, and had an online project management component that is quite good for coordinating subs and sharing project details. It also generates proposals, Change orders and other project documents. 

It's an expensive package but very useful for large projects. 

Sharad,

Very nicely done !!!!! The place looks great and you and your partner made a profit. A successful flip for sure. What's your next deal? 

Hi Timothy,

You can probably handle it yourself if it's a light makeover and freshen up, such as paint, carpets, exterior yard work and cleanup. I'd start thinking about using a GC if there are structural problems, wood rot, mechanical work, either plumbing or electrical, roof work, or more complicated carpentry such as hanging doors, repairing stairs and so on. A good GC can and will bid this work so you know what your in for, preferably before you commit to buying the house. The GC will also be able to do the work more quickly, assuming he is well equipped and has a good crew. If you do hire a GC pay attention to how he runs the job so that you can rehab a future flip yourself.

Best of luck,

I'm not sure what property values are there but what is the reasoning for not taking the settlement and walking away? In my mind,   $103k would be excellent seed money for an investment closer to home. 

Hi Damian, 

It also depends on where you're doing projects. I know it's atypical and extreme but here in NYC, plans are only accepted if prepared by licensed architects,  and permits are only issued to licensed contractors after proof of insurance and worker's comp compliance.