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Thread: House Flipping

  1. #1
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    House Flipping

    Has anyone here done any flipping, I have done 2 this year and was pleased with the result. My wife does the kitchen cabinets and tile backsplash, Picks out lighting and chooses colors etc, plus other design ideas to make the house modern, like taking out walls to open it up.

    I do all the plumbing and electrical, plus I build large back decks. I ad bathrooms , and finish basements etc.

    I hired a crew to do the drywall and painting, I could do it but I don't like it and I am to old to fool with that.

    The one thing we do that most flippers don't do is to make the inside of an old less expensive home look like a brand new home,

    For example, women look at the home inside and for that price range get the average home decor, but what we do is put beautiful chandeliers and lighting, modern tile floors in the kitchen and bathroom, we gut the old bathroom and make it look new, so the secret is that the people buying the home will get what the new home buyers get on the inside, I have heard many times we have never seen anything this beautiful in our price range. It makes you proud of the work and gives me something to do.

    Otis

  2. #2
    Registered Member enigma57's Avatar
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    Sounds like a good way to go at it, Otis. I was trained as a welder, brazer, pipefitter and plumber and would do the plumbing in such an undertaking. And the framing and roofing as well. I am not as well versed in electrical though, so would farm that out to my brother-in-law. Drywall and painting are like bodywork to me. Requires skill, talent and patience I do not have, so would farm that out, as well. I'm better at turning wrenches and hammering. Running pipe. Stuff like that.

    Best regards,

    Harry
    'G-d Bless The U.S.A.'...... Lee Greenwood......

    http://www.youtube.com/watch?v=U_5aoptI5j0

    Staff Sergeant Roy Benavidez......

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  3. #3
    Registered Member carls 56's Avatar
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    timing was right, lots of people wanting a stand alone home with what's going on now.
    ARMY NAM VET, very proud!

    56 210 4dr

    drive and enjoy them while you work on them, life is to short.

  4. #4
    Registered Member 56Mark's Avatar
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    I have done a few, but it has been about 4 years since I have done one. My brother and I were doing them together. We did similar to you, make it nice and like a new house inside and do as much as we could outside to get good curb appeal. We sold all three of them within a week of putting them up for sale and for sale by owner. I since have helped my son completely redo one he bought to live in and it turned out really nice. I am still working full time and had to quit the flipping for a while, was working day and night and had no life. 2021 will probably be my last year of full time employment, then I would like to find another one to do occasionally. I enjoy doing them. It is hard to find one around here right now that has enough margin to make it worth while.
    56-210, 283, 200-4R, Power steering, Power Brakes

  5. #5
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    One item I have found that can make you more money, try not to buy houses with out a basement, Example. 1000 square home would say for lets say 105.000 and it has a non finished basement, make sure no leaks, I have my insurance agent runs a 5 year background on the house and see if any claims in the last 5 years, I also talk to the neighbors ect.

    Here is the beauty of the house houses are generally appraised on price per square foot. say 100.00 per square foot, and no value for the basement, finish the basement put at least one room in the basement, and also ad a bathroom and a large family room in the basement, now the square footage is counted , example we just finished a house without a finished basement and that appraisal was 140,000 but after we finished the basement our appraisal rose to 180'000 dollars and we sold it for 183,000

    Closing on a home we bought Monday, it is very nice brick home with unfinished basement.

    Houses that are under the 200,000 sell most of the time here in the same day as listed,


    Last edited by otis; 11-19-2020 at 12:55 PM.

  6. #6
    Registered Member enigma57's Avatar
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    While interest rates are low is a great time to buy (or sell) a house. Good luck with your house flipping, Otis!

    Best regards,

    Harry
    'G-d Bless The U.S.A.'...... Lee Greenwood......

    http://www.youtube.com/watch?v=U_5aoptI5j0

    Staff Sergeant Roy Benavidez......

    https://www.youtube.com/watch?v=i3nncd4sxaM&t=466s

  7. #7
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    Thanks Harry

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