So, I know what I want to be when I grow up... anyone know anything about flipping houses? - Mothering Forums

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#1 of 31 Old 05-27-2008, 08:09 AM - Thread Starter
 
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I want to flip houses. I'm obsessed with interior design. I absolutely love the idea of turning run-down older homes in my city into places that can support a real sense of community. I want to do quality work using as many earth-friendly materials/methods as my budget allows for, I'm not just looking to paint over shoddy work to make a quick buck. I love to get my hands dirty and actually work, not just be the one paying for everything. (OH, the ideas popping out of my head on everything I'd like to do!) I am also an HGTV addict.

The thing is, we don't have the means to own our own home right now, let alone start investing in houses to flip, and with two small children who will start school in a few years I really don't think it would be the best idea to do the whole "move into the fixer, then sell it and move to the next one" thing. For one, we hate to move (who doesn't?), and for two, who wants to live in a construction zone their whole lives???

But, I had the idea that it would be a really great learning experience to work for someone who is already an established house-flipper, maybe like some kind of internship. It would get me doing what I feel called to do before investing my own money. And truth be told, I really don't feel up to diving in on my own yet. I may feel like I have a pretty good handle on what needs to be done to a house, but actually doing it is a different matter entirely.

So how would I go about finding someone to show me the ropes? Is this a realistic idea, or just a nice pipe dream? Are there any classes I could take that would be of specific use that I should look into first? I have a feeling it would be the kind of thing where I'd have to just start calling around and trying to get my foot in the door. What kinds of questions should I ask (so I'm not fumbling around for words)?

Any advice at all would be appreciated. Thanks!



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#2 of 31 Old 05-27-2008, 09:27 AM
 
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One of my local colleges actually offers a non credit class on Flipping Houses.

You REALLY need to know what you are doing if you expect to make much of a profit flipping. It works best if you have someone available to do the work CHEAP but professionally.

To be honest, I doubt you'll find someone who is willing for you to intern. Unless you have actual credentials as an Interior Designer or Architect.

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#3 of 31 Old 05-27-2008, 09:51 AM
 
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It's also a really bad time, in terms of housing market, to become a house flipper. Of course, who knows what will happen in a few years.....

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#4 of 31 Old 05-27-2008, 09:54 AM
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Don't do it now. There is no market for house flipping or real estate in general. You'll end up losing thousands, if not hundreds of thousands, of dollars.

You need to wait a few years and watch the market, but it's going to take 20-30 years before the housing market is again what it was like a few years ago (when house flipping was a financially sound prospect).
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#5 of 31 Old 05-27-2008, 09:57 AM
 
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if you can afford to buy now and wait for the market to come back around, you could make a lot of money. how long you would have to hold it is up in the air at the moment though....more than likely a few years..and thats not really what "flipping houses" is all about..its about fast turn over (from what i understand).

purchasing houses (or stocks) right now at a low price and holding them for a long time is a good investment..but something that takes a lot of resources out of circulation for use of other things.

GL!
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#6 of 31 Old 05-27-2008, 10:04 AM
 
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The market is not bad everywhere, so do some local research and consult with someone who knows your market before you assume it's down right now.

Ours is down a bit, but not awful. I am a real estate agent and still have clients that are successfully flipping homes in our current market. But that takes several things: knowing what you are doing, finding the very best deals out there (like pre-foreclosures) and doing the flip within budget so that it can be priced well and sell quickly. Right now in our market, pricing is KEY.

It's also a good time to buy and sit on homes, if you can afford it. I know several people who are able to do this, some of them are renting the homes out for now and will remodel and flip them in a few years.

My best advise is to talk with some people who are actually doing this in your market and get a realistic idea of what flipping is actually like. I always chuckle when I watch those HGTV shows and they talk about the "profit" .. it's way inflated because they usually forget to add commissions in there, or tell how long the house sat on the market, if they had to do price reductions or incentives, etc. It's not a realistic amount, most times.

Best of luck. Flipping houses can be really fun. I have not flipped any myself, just represented clients who do .. and my real estate partner's husband has done several. Just do your research before jumping in feet first.

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#7 of 31 Old 05-27-2008, 10:38 AM
 
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I agree with alot of what mistymama said. Especially the inflated values on the shows. It's deceptive and misleading to those who don't know. Actually, we're finding it's a GREAT market for investing, but we know that depending on the deal, we may wind up renting out whatever we buy until the market is better for selling. We may not, but we might. The market is so horrible where I am now that we'll likely take on debt just to buy some properties TO rent (that don't need a lot of work).

We have flipped houses. I'm an agent and my family has been doing this for years (since as long as I can remember). That being said, it's not something that you're going to make any serious profit on if you're trying to be entirely eco-conscious. The margins are usually thinner than that. You're not going to afford to put in eco-friendly flooring and paints unless you scored a SERIOUS bargain and are just looking to break-even and build health in a community.

It also has close to nothing to do with interior decorating! I love how the shows always show you this home that the seller has completely furnished, beautifully. Ummmm... notsomuch. And let's add that furniture rental into the cost of the house--shall we?

We just went through a house two weeks ago that we are looking at to flip. Currently, it's bank-owned. Let me take you through what we had to think about:

* Okay, the bank owns it. But did they foreclose on the owner and just take it back or did it go to sheriff's sale? Because if it didn't go to sheriff's sale, there may still be liens against the house. Note to selves: need to do our own title search (on a property we may never buy) at a cost of about $300 (for the search and insurance).

* It's here in our town and our taxes are NOTORIOUSLY high. This property's taxes are currently $5,304. But the house is not habitable and so those taxes SHOULD be significantly reduced if we can bicker with the assessor. Here, a change in ownership opens the door for that. Otherwise, we would've had to appeal the taxes by April 1. But regardless, when the house is habitable we'll run into the problem again. The town is currently under revaluation. We run the risk that the reval will not reduce the taxes enough to make it worthwhile.

(this is all before you even get to the interior)

* Interior is a mess. There is obviously some kind of water in the basement and the back "add-on" of the house has some mold--but it's not serious or severe. But mold none-the-less... enter insurance problems and possible mandated remediation (cha-ching) by the insurer.

* ALL of the systems have to be replaced... plumbing, electric, heat (was there heat? because it looks like it was all removed!?). All of it. We know how much it will cost to do each of these having done them in a number of houses before and knowing which contractors we will need to do this. Thankfully, it's not steam heat... so the expensive but steam-heat-genius guy is not required.

* The layout is horrible and includes a first-floor bedroom that they MOVED a BEARING wall to make bigger because in this town, you must have 74 square feet to qualify as a bedroom. So they moved the wall about one foot. And you can TOTALLY tell--needs serious repair.

* At this point, can we tear it down and just start over? The lot size isn't huge and we would ABSOLUTELY need to maintain as much yard as possible to keep it marketable. Plus, we might need a variance to build because the current zoning probably makes it legally impossible to have even built the house that's there. If we couldn't get a variance, that means we're stuck with rehabbing what's there.

Those were the bigger things that I can think of off the top of my head.

I seriously am not sure where you would go to learn this. I might start by looking to join your local real estate investors club, network, and find someone to apprentice there... kwim? I've had one or two people approach me (more to use their money and my effort to flip). If you can't do that, buddy up to apprentice a home renovator--because knowing THOSE costs is HUGE. My husband and I can usually walk into a place and ballpark the things we need. And we're usually dead-on. We add 25% for "ugh... what was in those walls?". Look at working with/volunteering for Habitat for Humanity because then you'll get an understanding of how the work is done and when it needs to be done (so some contractor doesn't screw you for your lack of construction knowledge). Call your county housing dept. and see what programs they have that need volunteers or maybe they have mentoring programs. We have two groups that work with the county's money to provide low-income homes. They always need help. If you know what is needed construction/renovation-wise, at least you'll be able to get estimates for the work vs. trusting someone else to tell you what needs to be done and how much it will cost. If you at least know what needs to truly be done--that's a HUGE battle won.

We also know the areas well enough to know that a granite countertop--even at closeout prices--is not going to add value in the town that we're in. It may make the house SELL quicker, but you won't get any more money for it. People looking to live here don't see granite as being worth more money--they don't need it and they ain't paying for it. There are lots of things like this that you need to know about the towns you'll buy in. Go to open houses of homes and then watch the papers for what they sell for to get a good handle on that. We see this problem over and over and over and over again. "I paid $10,000 for those marble floors!!". Ummm, then I hope you got $10,000 worth of enjoyment out of them!

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#8 of 31 Old 05-27-2008, 12:54 PM
 
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Oooh, ooohh...I was obsessed with this too recently. I still would LOVE to do it someday, but this holds me back too

Quote:
Originally Posted by greeny View Post
It's also a really bad time, in terms of housing market, to become a house flipper. Of course, who knows what will happen in a few years.....
It is a great time to buy, since houses arent' selling and going for so cheap. But it's way too hard to resell, and then your sitting on a morgage losing money.

Booohh.....I'll go into buisness with you when the market changes!! (hopefully with our next president).

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#9 of 31 Old 05-27-2008, 12:57 PM
 
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I am heading out the door -- but I will come back and post a response DH and I have flipped about 12 homes -- we are the only people we know that do it ... I will post my advice later
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#10 of 31 Old 05-27-2008, 02:13 PM
 
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What I know about flipping...

Pick a house you dont mind living in and then going bankrupt for as you tryto break even in selling.

Seriously.

DP knows of 4-5 guys who were flipping in different areas of the county. Every one of them either lost a ton of money or made very, very little in the sell.

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#11 of 31 Old 05-27-2008, 02:33 PM
 
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Be careful. A lot of the flip that house shows are deceptive. I love the shows, but found out that there are charges pending and lawsuits galore
on a lot of those flippers they feature.

I'm a real estate agent and my family flips or rehabs houses. I really don't
know of any classes you can take. And I don't think you could find someone to intern with. You may be able to. I don't know though.

The market isn't bad everywhere. I don't know where you're at so can't tell you anything about your market. Where I'm at, it's up 6% from last year and it's going up and up. So around here, it's a good market for flipping.

That being said, you REALLY have to know what you're doing to make a profit. You need to know about mold, foundation problems, roof problems, all kinds of stuff. It's not all about going in and changing carpet and putting in countertops and painting. You could get into some real problems if you don't know what you're looking for. Most people lose before they start profiting. It takes money to make money ya know?

You might talk to some developers or contractors in your area and see if they would let you hang out and watch them. I don't know if they would though. It may be a liability issue. You might talk to some local realtors in your area too.
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#12 of 31 Old 05-27-2008, 02:57 PM
 
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Quote:
Originally Posted by ThreeBeans View Post
Don't do it now. There is no market for house flipping or real estate in general. You'll end up losing thousands, if not hundreds of thousands, of dollars.

You need to wait a few years and watch the market, but it's going to take 20-30 years before the housing market is again what it was like a few years ago (when house flipping was a financially sound prospect).
Yeah to that.
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#13 of 31 Old 05-27-2008, 03:04 PM
 
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Serrendipity,
Heatherdeg and Mistymama really seem to know what they are talking about. While most flip shows will emphasize the drama of hidden damage, permit problems and cost overruns they don't necessarily do a good job of breaking down those mundane everyday cost of business type items that cut into your profit: commissions, taxes, property insurance, etc. ... and the biggest potential back breakers, title problems, liens, etc.

These last two are especially problematic with foreclosures and government owned properties but you should be aware of these things anytime you buy a house. One final issue, I believe in most jurisdictions there is a duty for the Seller to disclose any "material" defects (generally anything affecting the value of the property) that is not readily discoverable with a visual inspection. However, this is a problem when the current owner has little or no knowledge of the condition of the property (e.g.: estates and bank owned properties) which may be a polite way of saying they have plausible deniability. A thorough inspection is even more critical in situations like this.

If there is a hint of a problem you should be prepared to request permission for "destructive" testing. That could be something as simple as moving panelling to get a better look at a suspected underlying problem. A really good inspector --from the buyer's perspective-- is one that may be willing to push the limits a little on what they can get a good look at, perhaps prying the panelling until it bends but doesn't break to try and get a peek underneath.

I can give you a personal example that illustrates how even when you are as thorough as you possibly can be something can still go wrong. Growing up we had horrible water problems in our basement. So it's something I was keenly aware of when shopping for a house. I didn't want to rely upon the Seller's disclosure or even a thorough inspection. I knew what warning signs to look for: a musty smell, the tell tale signs of mold on the walls, water lines on any wood work, etc.

We looked at an estate property that had been vacant for about 3 years while the property was being probated. The 50 year old house obviously needed updating and was suffering from neglect. However, the full basement showed no signs of water damage, no mold, no mildewy smell and only a small water line on the finished cedar closed. The line was about 5 inches off the ground and only about 5 or 6 inches long it suggested a washing machine leak. Since water wicks upwards, the actual water level would have been much lower than the water line; and if there had been real flooding the water line would have been much longer.

We had a very thorough inspector, someone that had looked at about 5 properties for me when I bought my condo. He had the well deserved nick name "the deal breaker". After the Offer and Inspection but before the P&S Agreement I went back to the house and spoke with the woman on the left. She told me they had never had a water problem. We didn't get to talk to the neighbor on the left until after the P&S, but before the closing. Before we'd even specifically brought the subject up he asked "did anyone tell you about the flooding?" It turns out that the neighbors on both sides had horrific water run-off problems. (Apparently the water wasn't a problem from the perspective of the woman on the right since her husband dealt with it.)

I was contractually committed to buying the property but I did ask the Seller's agent about the problem and he told me "we couldn't know, the owner has been dead for 3years and the beneficiaries are distant relatives."

I told my attorney about the issue and warned her that I would be asking about it at the closing just to get them on record. I got the same answer but at least I had an audience to witness the answer.

When we moved in the condition of the basement was dramatically different. This wouldn't have been much longer than a month or two after the inspection. The walls had the tell tale white residue you see just before it developes into obvious mold and there was an overwhelming mildewy smell. Both of which suggested that the agent knew or should have known there was a "moisture" problem if not an outright "water" problem. Keep in mind that if the property had been shut up for years they would have had to clean the basement walls for it to have been in the condition it was at the time of inspection.

Had I known I would have avoided the property to be safe. I did get lucky and it seems like the back yard was graded subtly to direct any water runoff --which can be significant-- away from the house. The only time we get water in the basement is when it's raining so hard the water comes down in sheets and gets behind the window well covers.

Anywhooo, that's my cautionary tale. If nothing else it does illustrate the importance of having a thorough inspection and asking detailed questions. I can't remember how specific my questions were but my impression is that they should have told me about the moisture problem based on the questions I asked and what I now believe they should have known about the condition of the property.

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#14 of 31 Old 05-27-2008, 03:30 PM
 
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And just to dove-tail what CathMac said, I'm the same way about water problems. A house we bought in 1998 (just a regular house on the market--needed some work, but totally livable) had efflorescence (white mineral buildup) on the basement walls, but in my area--that is pretty common if there is prolonged humidity and not necessarily flooding. This was our first house. We intended to flip it but were going to live in it for a little while to avoid capital gains. I did everything my family said not to (don't use XYZ agency, don't take chances with water issues, etc.) and man--did we pay for it.

Somewhere, the issue of a water problem in the basement came up. I think they had a prior deal fall through and maybe it was mentioned in the appraisal done for that deal? I honestly don't remember where because the seller disclosure said "no way". The agent went through all kinds of nonsense trying to prove there was no water issue--even hiring an inspector and trying to strong-arm us into going there to get the verbal "it's okay".

We even had an inspection. Not a company we used before, but they said "no problem".

Long story short, there was a water problem. We had to remediate to the tune of about $8,000 and sue the seller, the brokerage that sold the home (which also included our own realtor), and the inspection company (that was now conveniently out of business). We are beyond lucky to have gotten a settlement because fraud is really hard to prove. They just screwed up how they ran the depositions and it compromised their case. And to recoup that $8,000 we had to spend almost $3,000 in legal fees.

It's a mistake you don't make twice! LOL!

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#15 of 31 Old 05-27-2008, 03:55 PM
 
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Hey there
I am back now. I will tell you our experiences in flipping approx 12 homes:
· Know your market. This is key – don’t rely on anyone elses advice – get out there and view houses and watch the computer every day just to see what prices are doing. That is the only way you will know a good deal.
· Get the best inspector. Ask other people who they have used and if they were happy with them. Make sure your Inspector is accredited and knows what they are doing. I have backed out of many many deals after having them inspected! And moisture problems should be detected by a good inspector! They have equipment for that... and I also have a very sensitive nose – I know a moisture problem even before the inspector tells me !
· Make sure you look at all the costs and be realistic. You should have some skill that is going to save you money. Painting and carpentry skills are a huge money saver. If you have to pay out for everything it cuts into your profit. Also If you are going to do a lot of flips you may find a realtor who will give you a deal on commission. I think our biggest learning curve is knowing WHERE to spend your dollars. Granite counters are nice but unless you are flipping in a million dollar neighbourhood that is not a good way to spend your limited $$. The must do`s for us is usually landscaping, painting, and flooring and quite often lighting.
· One of things we do is write a list of all of things we want to do, the cost involved including purchasing and selling costs. And then determine how much we would like to put it for sale for. Then we go and look at homes in that new price range to see if the neighbourhood and market can hold it. We always take into consideration carrying costs so we line our trades people way in advance and we usually have a 2 weeks turn around – yes I said 2 weeks ! and then its back on the market... because every day you own that property its cutting into your profit (time is money)
· We learned the hard way – staging is very important. Vacant houses sell slower and for less money. When you step into a home that we are selling as a flip—it looks like you stepped into a magazine.... it has that WOW factor everyone is looking for, Many buyers are “emotional buyers” ..don’t forget that. I have seen many homes sell for more than they should because the buyers is just sooo in love!! Go to show homes and see how they are decorating !
· Buy the worst home in the best neighbourhood – not the other way around!
· Be prepared for unexpected costs – including the possibility that it might not sell for several months.
· Be prepared for a loss – it happens – its happened to us but only once – but we just move on to the next project and learn from our mistakes.
· We only buy homes that if we had to rent out would cover the costs of the mortgage etc – just incase the market changes.

Its a gamble – but we love love it --- I am always looking for the next challenge. I am sure there are many things I have forgotten to say here that I will remember later. Have fun
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#16 of 31 Old 05-27-2008, 06:03 PM
 
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A much lower risk way to get into this is home staging - people pay you $$$ to dress up their houses for resale. You can bill $500 or more per client, depending on the area. (plus the cost of furniture rentals, etc) And great experience for future home buying!
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#17 of 31 Old 05-27-2008, 09:13 PM - Thread Starter
 
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You've given me much to think about.

Right now the whole downtown area is going through a huge revitalization, and what were some not-so-great neighborhoods 10-15 years ago now have more and more families that care about community. There are lots of really great craftsman or victorian houses just begging to be fixed up and made respectable again, not to mention all the post-WWII bungalows and such.

Ideally, what I'd like to do (someday, probably years from now, if ever) is find a place with good bones that's just gotten run down over the years. Aside from the necessary "guts" such as updating electrical and plumbing if needed, I'd do things like: replace the yucky old carpet and vinyl with bamboo and Marmoleum or cork flooring; reface the cabinets if the interiors are sound and if the layout is practical (if not, donate them or rehang them if possible); replace old laminate countertops using things like poured concrete, or recycled materials like Icestone; update appliances (energy star, but nothing too fancy); add Solatubes for natural lighting in public areas like kitchen and bathrooms; get rid of popcorn ceilings, and restore original details when possible. That sort of thing. I really think that's where the "interior design" plays a key role. You have to be able to choose things that appeal to a broad variety of people and not just to suit your own taste.

The idea being that I'm not looking to make a luxury house, just something where I know that I've made green choices (bamboo; low/no VOC paints) when possible, done sound work, and now have a respectable house that a middle-class family would want to live in and be able to afford.

I know I wouldn't get rich doing it. But it would be what I love.



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#18 of 31 Old 05-27-2008, 09:28 PM
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Originally Posted by greeny View Post
It's also a really bad time, in terms of housing market, to become a house flipper.



Why not just a career in interior decorating?

"Our task is not to see the future, but to enable it."
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#19 of 31 Old 05-28-2008, 01:46 AM
 
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NOT necessarily -- really depends on where you are wanting to invest... the market is NOT plumeting everywhere You need to choose carefully
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#20 of 31 Old 05-28-2008, 02:19 AM
 
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Originally Posted by heatherdeg View Post
...
Long story short, there was a water problem. We had to remediate to the tune of about $8,000 and sue the seller, the brokerage that sold the home (which also included our own realtor), and the inspection company (that was now conveniently out of business). We are beyond lucky to have gotten a settlement because fraud is really hard to prove. They just screwed up how they ran the depositions and it compromised their case. And to recoup that $8,000 we had to spend almost $3,000 in legal fees.

It's a mistake you don't make twice! LOL!
heatherdeg,
You raise a really important practical point, inspections can be a fly by night business. I'd like to add that you should get recommendations for a reputable inspector and avoid using one the Seller's agent steers you towards, due to a likely conflict of interest. Also, most inspection contracts will limit your damages to the cost of the inspection so they don't stand much to lose if they mess up.

~Cath
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#21 of 31 Old 05-28-2008, 02:33 AM
 
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you are dead on !! get a licensed Inspector!!
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#22 of 31 Old 05-28-2008, 02:33 AM
 
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Unfortunately, the inspectors we used (licensed and we THOUGHT insured--I never called to verify the insurance certificate) had been in good business for many years and were just on their way out... and we didn't realize it.

To the OP: for what it sounds like you want to do, you still need to know a lot of the same things to be sure that you're getting into a situation that is not more than you intended. And at the moment, green materials are so much more expensive that you'd really be lucky to break even on the whole thing. Sad, but true.

I know a couple that has bought a house, renovated it, lived in it while it's new and shiny for 2 years and then sold it (avoiding capital gains) and moved to the next place. If you were doing THAT, you have a chance of actually making money because you have two years for it to grow in value. It's riskier in that you will take a chance that the market won't stagnate in the meantime--but it's all risk. And for me, I don't want to move every 2 years (but then, I moved SO much in my childhood that I've been through 9 different school districts).

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#23 of 31 Old 05-28-2008, 03:47 AM
 
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Originally Posted by SleeplessMommy View Post
A much lower risk way to get into this is home staging - people pay you $$$ to dress up their houses for resale. You can bill $500 or more per client, depending on the area. (plus the cost of furniture rentals, etc) And great experience for future home buying!
That's my suggestion! Lower risk, but all the fun of fixing stuff up and making it pretty for sales.
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#24 of 31 Old 05-28-2008, 09:37 AM
 
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Having a licensed inspectior does not guarantee they will find everything. I'm an agent now and have an inspector I ... but back years ago when I bought my first home a licensed inspector missed where a back door was leaking and the entire subfloor was totally rotten. The previous owners had just stuck new carpet over it. :

I was able to get my inspection money back, and have the previous owners pay for the repairs, but oh man, was that a wake up call.

You just never know what you are going to find (or not find!) in a home.

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#25 of 31 Old 05-28-2008, 09:40 AM
 
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I guess every market is different, but around here our clients EXPECT us to stage their home as part of the listing agreement.

I guess some agents might be willing to pay for those services if they were not good at staging, but I don't know any that do. Most either have a knack for decorating (and we've been in enough beautifuly staged homes to copy or take ideas from them) or they have taken classes and learned how to do it. I know this year for part of my CE I took a 4 hour class on staging and it was great fun.

I guess every market is different, but here the agents are usually the ones staging.

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#26 of 31 Old 05-28-2008, 10:56 AM
 
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NOT necessarily -- really depends on where you are wanting to invest... the market is NOT plumeting everywhere You need to choose carefully


The sky is NOT falling, real estate is NOT falling in price EVERYWHERE, lol.

I had typed up this whole long post yesterday, but i guess the servers were crashing, lol.

At any rate, do what you love and don't let people tell you that you cannot do it.

NMY actively making my dreams happen :
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#27 of 31 Old 05-28-2008, 11:28 AM
 
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The sky is NOT falling, real estate is NOT falling in price EVERYWHERE, lol.

I had typed up this whole long post yesterday, but i guess the servers were crashing, lol.

At any rate, do what you love and don't let people tell you that you cannot do it.
EXACTLY! I don't know how many times I have to remind my out of state relatives that OUR market, here where I live, did not get hurt by the mortgage mess everyone else did and the market is steadily on the rise.
You can still make money in real estate....depending on where you are.
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#28 of 31 Old 05-28-2008, 11:43 AM
 
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Originally Posted by Brown Lioness View Post


The sky is NOT falling, real estate is NOT falling in price EVERYWHERE, lol.

I had typed up this whole long post yesterday, but i guess the servers were crashing, lol.

At any rate, do what you love and don't let people tell you that you cannot do it.
This bears repeating.

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#29 of 31 Old 05-28-2008, 12:18 PM
 
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Quote:
Originally Posted by mistymama View Post
I guess every market is different, but around here our clients EXPECT us to stage their home as part of the listing agreement.

I guess some agents might be willing to pay for those services if they were not good at staging, but I don't know any that do. Most either have a knack for decorating (and we've been in enough beautifuly staged homes to copy or take ideas from them) or they have taken classes and learned how to do it. I know this year for part of my CE I took a 4 hour class on staging and it was great fun.

I guess every market is different, but here the agents are usually the ones staging.
_____________________________

Cool Not in my neck of the woods though. The realtors list them as is but do make suggestions of what to do before first showing.
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#30 of 31 Old 05-28-2008, 12:33 PM
 
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Quote:
Originally Posted by Brown Lioness View Post


The sky is NOT falling, real estate is NOT falling in price EVERYWHERE, lol.

I had typed up this whole long post yesterday, but i guess the servers were crashing, lol.

At any rate, do what you love and don't let people tell you that you cannot do it.
Of course that's true. I'm in a stable area myself. But making HUGE MONEY in flipping, like we see on TV, almost always requires a spiraling-out-of-control market, and there aren't many of those around right now.
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