Sunday, March 20, 2016

My opinion on most home flippers

Flip Homes



 There has been a lot of excitement about getting into flipping homes. There is also a lot of people who love to buy a home because being flipped it has been updated with modern finishes and the sense of security that the home needs nothing because its all new.  I have a few thoughts about it.

A lot of people get into flipping homes that really don't know what they are doing when it comes to repair or construction of homes. It seems that the most common thought is that you buy a home that is a Short Sale, Foreclosure, or HUD ect. and that you are getting a great deal. This is not always true. The next misconception is that by just painting and putting carpet most homes don't need much work. Then put it back on the market for a higher price.The truth is, and especially with older homes. The surface isn't the only thing that needs to be updated. Most older homes have knob and pull wiring. Not cheap to fix. Homes older than 1978 commonly have lead paint.
 Unfortunately not everyone is a craftsman. I have seen many homes that the tile was set wrong. the cabinets are not square, or they added a wall in the basement to gain an extra bedroom and when they put up the sheet rock they had to notch around an electrical outlet because they didn't move it. Where as leaving it where it was was a fire hazard. Or they wanted to open up the kitchen to create an open concept,  so they remove a wall that is bearing the weight of the house. Rather than hiring an engineer to properly size a beam or whatever, they take it upon themselves to choose something that they think is sufficient Buying a home and fixing it isn't lucrative unless you have the personal know how. Paying someone to do it for you only makes the bottom line smaller unless you puff up the price of the home to make your money. This causes a false inflation.

  I have a friend I just met who had just purchased a home from a guy who had just completed a full remodel. Unfortunately, having the excitement of having a good as new house, brought the over sight of many deficiencies. In this full remodel none of the electrical was updated and the breaker panel is overloaded with all the new can lights and fancy updates. The sewer line had a belly in it and the basement has flooded weekly since they have moved in. The dishwasher was hooked up with out the metal insert that completes the compression fitting. The pressure regulator that de pressurizes the water from the city's 110 psi to below the 80 psi max that is common on most fixtures was washed out. There are many things that buyers should be aware before spending their hard earned money on one of these on one of these homes. 

 Being a real estate agent I get to go through a lot of homes with people. I have gone through many flipped houses and have most of the time advised against those homes. I would suggest taking someone with you who actually knows something about the building process as well as building codes. I would suggest that you ask for the information on the contractor who did the work on these homes and check to see if they are even licensed. If the seller did the repairs himself and isn't licensed I would stay away. Just because they're dad was a carpenter for 40 years doesn't mean that the seller has 40 years experience.

There are simple things to look for when going through a flipped house. 

Check for water staining in the basement or crawl spaces
Look at the outlets position and go to your local hardware store and get a      tester to check the breakers and GFCI's.

If they had to cut the wall around something just so its exposed like and outlet they didn't do it right. 

Check that the wet areas have a GFCI.

Make sure the water is on and check under the sinks and all plumbing that you can see. 

Just look at the finishes. If they aren't installed well or look crooked. Chances are they were installed incorrectly or installed by someone who doesn't know what they are doing. Especially new floor tile

If you love a house you can still by it but just make sure you check it carefully and anything that you are uncomfortable with ask for it to be fixed and put it in writing. 

There was a recent news story about how so many people are flipping houses now that it is inflating the market again. In 2008 many of the homes that sold were artificially inflated because of investors flooding the market by buying homes and reselling them over and over.  This is a similar situation except now its being done by house flippers. They buy a home dress up the surface then mark it up and sell it. They don't address the real issues with a property they just cover it up. It isn't always intentional it is more because the lack the knowledge to know if something is an issue.

Regardless of my opinion, Just do your homework when shopping for a home. Also make sure that the people that represent you actually have the knowledge necessary  to represent you to the fullest. 

Just to be clear there are people out there who are doing it right but you have to be prepared so that you can weed out the garbage from the real gems. 





Saturday, March 5, 2016

Brookelynn's Dresser

 Brookelynn's Dresser

I know I said that I was going to be sheet rocking the basement this weekend but with all the work I have been doing at my real job had taken a toll on my knees and ankles. So we decided instead to refinish Brookes dresser. 

I got this dresser when I first moved to Vernal four or five years ago. It served its purpose well and we picked it up cheap because it had a cracked corner. It has gone down through all  the girls. 

The girls however had this bad habit of using the bottom drawers as steps. Therefore the bottom 2 drawers have been fixed multiple times but they seem to be struggling again. 

 The first thing we did was make the decision that her dresser should be white. We then decided that it should have a different track system. The center track on this one broke through the flimsy mdf way to easy. 

Then we priced out Citristrip and other materials. Found 64 oz for about $20 and then four cans of white spray paint and a can of clear coat. for another $15 - $20. 

We then drove down to Ikea and bought her dresser. My other girls have this same dresser only in the light maple color. It has proven to be a very durable dresser and the price is very reasonable. I however should stress as  Ikea does that it is important to install the anti tip bracket. They have some lawsuits occur over this issue and it has resulted in injuries. So install the anti tip bracket. 

Maybe next week I can insulate Hailey's room and install sheet rock. 


Thursday, March 3, 2016

Hailey's New Room

Hailey's  New Room

It is amazing how quick your kids can grow up. My oldest is now 11. She reminds everyday that she thinks she is teenager. When we bought this home it only had three bedrooms. So she has to share with her sister until I get one built for her. We are now in the process of getting her room done. Well we are in the process of finishing the entire basement. I have gotten the basement and her room framed ran the electrical and added the heat vent. Pretty much its ready for sheet rock. Hailey is of course really excited to have her small amount of independence. I did a quick digital of how I would like the room to look but my wife thinks I should go a different direction.

Regardless it will turn out to be a cute preteen room. We are hoping to do sheet rock this weekend and maybe get it ready to be trimmed and painted. We will see how ambitious I get since I will be spending a portion of weekend bidding out a finish on a cabin. Here are some pics of where we are at now with the framing, electrical and heating. 

 Doesn't look like much but it will be pretty awesome when we are done. Hailey is really excited to get this done. Besides when you go in the basement you tend to get a bigger bedroom and a bigger walk in closet. What girl doesn't want that.

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