Patrick Philip
A few questions about this rehab house?
1 September 2017 | 16 replies
I don't know how to price the materials.
Jennifer Petrillo
Central NJ 3/2 SFR flip, 40K profit
6 September 2017 | 6 replies
Purchase price 147KListed for 299K, sold for 285 (went under contract for 290 but dropped it another 5K at buyer request after the appraisal just to get out of the deal)Home Depot credit card: 10K (appliances, fixtures and other things we picked out and purchased ourselves rather than having GC use typical builder grade stuff, also husband did some of the work himself so bought his own materials)Brought 40K of our own cash to the closing table, loan total when paid back was 185 (original loan 175 plus 10K in accrued interest, 12 month balloon loan so we did not have to make payments during the rehab, which helped a lot with cash flow, also loan had rehab costs folded in so for the most part we paid our guys out of the loan and not our own pockets)So (numbers are round): 285 sale price - 185 (loan payback) - 40 (cash we brought to closing) - 10 (Home Depot card) - 10 (closing costs) = 40K profitWork done: insulation and vinyl siding (this ate 18K of rehab budget but was unavoidable as cedar shakes were disintegrating), converted to natural gas heat (ducts already in place, changed out electric hot air blower to gas one and gas company ran the gas from the street for free), replaced AC compressor, new water heater, two new bathrooms, replacement windows, new appliances but left the wood cabinets b/c they were in perfect condition and I could not justify painting/replacing them, new kitchen backsplash, removed wall between kitchen and dining room, wood laminate flooring throughout except for new carpet in downstairs den, painted the deck/railings, new garage doors, one new slider, all solid wood interior panel doors, of course fresh paint and new light fixtures throughout.dining roomThere was moisture damage downstairs from bank not winterizing and pipes bursting...thanks, bank.Hauled out enormous old woodstove and broke up ugly old hearth and left good flue for someone to add new pellet or woodstove to if they want to, we figured not everyone wants a woodstove and this way the buyer can decide to add one back if desiredBathroom off downstairs den, chose a walk in shower for variety, hosing off dog or muddy children, disabled access, etc.
Charlene H.
Has anyone worked with CuttingEdge Homes (Modular mfg)?
21 November 2019 | 7 replies
They want a house with four walls, a functioning roof, and rough and finish materials that work.
Jake Oreskovich
EXTREME PET ODOR!! Please help!
27 September 2017 | 9 replies
The biggest issue is porous materials like wood.
Kosta Makris
RE agent licensing courses
27 September 2017 | 1 reply
They don't have an actual text book to read from but rather it is all interactive and they cover the material (supposedly) that would be in a text book.For those who have their licenses, how did you go about it?
Brendon K.
When did you become comfortable with pricing repairs?
6 October 2017 | 8 replies
Dewalt has a book that gets fairly in-depth for estimating materials needed.
Wesley Coleman
Vine City/ English Ave NEED ADVICE
15 July 2019 | 16 replies
You *may* lose a lot of materials along the way.
Marcus Rice
Want to AirB'B my house and build my home behind. How to Finance?
24 October 2017 | 4 replies
We have looked into metal building homes, pole barn homes (Mortons Buildings) and financing can be tough due to lack of comps.
Account Closed
Best way to study for realtor's license
21 January 2019 | 13 replies
Hey everybody,So I finally took action and ordered my materials to start working towards my real estate salesperson license, and I wanted to get some advice on how to best study for it.
Amanda Arredondo
Hello All: Military Alaska Newbie in New York looking forward to Florida Beaches
28 April 2015 | 16 replies
I'm open to starting one also, I would just like to learn a bit more first.Currently I'm ingesting as much free material as possible.