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Why You Should NEVER Buy A Fix And Flip House | THE HANDYMAN |
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- čas přidán 29. 03. 2018
- Here is how to do a fix and flip the right way • $100,000 Remodel Start...
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I renovated and sold homes for years, always avoided calling it "flipping" because there are some out there that do just that, buy, paint, clean and flip it for a quick buck. I always did things right and a huge chunk of each budget was dedicated to repairing or upgrading things potential homebuyers never see, ask about or know anything about (in many cases). Understanding what is behind the walls or under floors or in attic spaces is equally and most often more important than aesthetics. Why try to sell a house with your name attached to it if the new homeowners are in potential danger down the road or at least in for big headaches and big repair bills? My motto: DO IT RIGHT, SLEEP AT NIGHT.
And people who have no construction experience have no business in renovating for a profit unless they have someone qualified to point issues out and fix them, at least until they learn more.
Side note: I agree with Chris Major, I've tiled floors in new homes that were way out of level or have had huge humps or dives in the underlay or subfloor. Older homes I've renovated had staighter floors and walls. And dont get me started on cheap, shoddy finishes and workmanship in some new builds. 😱
I love that Zillow shows the prior sales, as it's so easy find the flippers.
I did a fix and flip and made 36k. Everything was up to code and the real estate agent said I over improved the house. New kitchen, fridge, washer, dryer,hot water heater, bathroom, switches,outlets,lighting. I did it the way as if I was going to live there. Total repair cost 23k on a house I paid 20k for. Quality goes in or I won't do it.
Unfortunately guys like you are the rare exception in flipping these days. Most of the time it's lipstick on a pig when the house has structural problems or an older furnace.
Yah just a coat of paint and some flooring
Doesn’t overimproving mean you spent more than you will be able to get back?
@@Mercury688 just means that they did more work than they had too
I flipped 26 houses last year. You are right that some flippers cut corners just like in any proffession. However, there are many great flippers as well. I think it is rather reckless to lump everyone in the same boat. It is also important to remember that many homeowners are allowed to do their own repairs without permits. They may have no clue what they are doing. I have seen many more problems from homeowners making repairs than flippers. I have also seen many problems on new builds as well. I suggest always getting an inspection no matter what kind of house you buy.
Mark Ferguson - InvestFourMore you are incorrect with your info. Homeowners can do plumbing, building and electrical without a license. You always need inspections and permits. Doesn’t matter who you are. The city always wants their money.
renaissanceman mark is not completely incorrect just as you aren’t completely correct either. There are many areas of the country where it is completely legal to do all of your own work as the homeowner WITHOUT permits because it falls in an area not covered by the proper staffing to perform inspections. I lived in one of these areas at one time and the only permit I pulled to build a complete new home was the septic permit.
Now in most areas the homeowner can bypass the trades licensing laws but still has to pull a permit and have inspections, but not all.
Mark Ferguson - InvestFourMore
II knew a family who bought a new home and, two years in, all of the sheet rock nails/screws were showing because the crappy sheet-rock was breaking free from each attachment. Also, sub-par shingles were used and a few would blow away with every storm, leaving their new roof looking like a Dalmatian. Luckily for them, they got a matching yard with huge sinkholes caused by deteriorating, settling construction debris buried below. Of course what you could see above in the yard was happening below and giant cracks developed in the foundation and eventually a leak in the main drain as well.
It was a nightmare and the builder had so many people after him, he filed for bankruptcy and went into hiding, leaving them royally bummed out.
Ya, so I agree, singling out any one kind of house as being risky isn't helpful. Buying new, used, or flipped, each come with inherent risk. It's just because a house in general has thousands of potential problems that can arise and people come with so many levels of stupid, magnified by a spectrum of morality.
Thanks. Your right. I learned fixing-up my first home and did well. Lost & learned the hard way on the second home. I tried to go beyond my capacity and went into a greed mode. One must do their homework and stick to what they can do and/or what they can learn to do. For the tougher stuff - Hire someone who is a professional and/or experienced - hopefully good at what they do. I - within limits - do well, but it takes me forever for the first half of a project. Too slow to make/charge for as the adage goes: " Time is Money ". Video was good.
Mark Ferguson - InvestFourMore
your skill set is incredible.. 26 houses in one year is just absolutely literally unbelievable..lol you have a very big team.. or these renovations are very small.. anyway it sounds like you just have a renovation job.. if you don't own five houses right now you're completely messing up your opportunity... if it is true that you do not have about an investment portfolio more than five houses.. I would suggest that you start doing that ..don't waste your opportunity.
A few of the flip episodes I've seen recently removed an alarming amount of internal walls without adding a beam 😱😳😱 .. I'm glad you mentioned it too.
I pulled a permit on a remodel I did on my own house years ago, did everything to code and called for a final inspection. Dude stuck his head into the remodeled area for 2 seconds and said “looks good have a nice day.” Signed the approval and left...lol
I see this all the time. I have done a lot of roofing in the past. The inspector climbs up the laddder sticks his head up and says "looks good" never even gets off the ladder and on to the roof.
The Handyman I guess the thinking is if someone is going to bother to get a permit, they are more likely to do things right or risk getting the project shut down.
I have seen this countless time. Was working at an industrial facility and the electrical inspector came out to verity emergency egress lighting. The electrical just left a 1/4 of the lights on and didn't even start the generators because the generators weren't even hooked up and told the guy the emergency lights were on. Inspector walked around for 5 minutes (buiding had 4 floors and covered 27 acres) and signed off. State inspections are a joke.
At the end of the day the consequences are on the builder/owner. You shouldn't even need an inspection tbh
thats how it usually goes %75 of the time.
Realtor Tip: I totally agree with your feelings on flips! One thing to note... If a Buyer that gets stuck with an awful mess like that...they can contact the state Real Estate Commission. They will take your complaint and look into it further. (It is an office to protect the public, in regards to real estate transactions.)
People need to know that these TV flip shows are mostly entertainment. I actually had a lady call me and ask if I could remodel her bathroom that weekend. She said she saw it done on tv and it only took 3 days and cost $2000. Needless to say I did not get the job, might have been the laughter.
Oh we see that shit all the time.. I work for Cincinnati Tile and some of these idiots will expect a full demo with a walk in shower , Old School or the Schloter system.. heated floors, new tub, new shitter, new cabinet,etc etc Anyway we’ll get there on Monday, they’ll be like, so ya think you fellas will be finished by the end of week. Bhahahaha
But but but we seen it on HGTV and they were able to complete something similar in a couple days.
Well there’s only so many guys that can fit into a bathroom stupid, and it’s tile, so it’s time consuming dumbass.
@@liveitlikeitloveall2746 what if you hired a bunch of seasoned midgets? or even put a couple on harnesses and hang em on the ceiling to do the wall tiles while the others do the floor tiles
Hey, what about the company advertising "Bath in a day". Ha, you can only fit so many workers in a 5x8 space!
I think people are confused because on the shows it says "Day 1, Day 2, Day 3..." and people think those are consecutive days.
I'm dealing with a client like this right now we are doing a full bathroom remodel tub toilet vanity all new Plumbing floors a new window ( which was lead and had to be removed in a special way) new fixtures new lighting adding a GFCI with no previous wiring and she was expecting it to be done in about 2 days 🤦🤦🤦
Sounds like the lady had champagne dreams on a cool aid budget. I would have over bid to get rid of her too.
🤣 right on man..that’s fkn hilarious!
Sounds like the contractor thinks he's a rocket scientist. At the rate he charges it would be easier and more cost effective to actually learn to do it yourself.
They watch those flip TV shows and think the prices and time frames they say is real life (which it never is), that's why.
Home inspectors are a joke, They find the simple dumb stuff that they are trained to find. they know nothing about the true guts of a house.
Anymore they are a shmo Joe off the street and have no construction labor under there belts. That should be a requirement.
My home inspector I used twice, two different purchases, was good and did his job well. However, not all inspectors are this good. He actually created a report with pictures and all about all the potential issues and all the general things about my house.
Adam V would you happen to have his business email?
@@MrBananablitz123 you think he happens to live near you? How likely is that?
They don't care
Just a suggestion. My good friend bought a house from a "fix and flip" guy. Looked GORGEOUS. Everything bright and new. But, has had some major problems with drainage----water came into her house from back yard each time it rained until she got drainage pipe. Also, apparently the 2nd bath was badly installed; shower stall drained into the front yard, underground, so she had to have yard dug up and get pipe installed.
Worst though is that she started smelling bad smell in house. Then, learned from neighbors that prior owner was a cat hoarder. Apparently, paint, etc., initially covered up the urine smell, but it's started seeping out now.
Something I'd do (if possible) is try to talk to neighbors before you buy a house to find out who used to live in it and what condition they kept it in.
I live in a house where a cat hoarder lived. Problem is the urine soaked into the wood. Remove and replace. I found that clear boat epoxy will seal the odors into floor joists. It was so bad one could not go in the basement. Has been 17 years now with no smell.FWIW
She can and should sue the person she bought the house from. All of this were known things that they didn’t legally disclose.
In 1973 my dad and uncles built our house on a tight budget. No money for a septic tank so they buried a 1966 short school bus to run sewage in. It’s still working today trouble free.
@@martyvanord984 had to do the same thing with one of our bedroom . Previous mexicans used it as their dogs personal bathroom - for 10 years.
60 year old hardwood floor gutted out and replaced.
Ideally remove all sheetrock about 1-2 feet from the ground. Spray all the wood with vinegar and water mixture or use a commercial cleaner/disinfectant/smell neutralizer. If you have carpet or any type of flooring that isn't straight concrete, just rip it out and replace. Spray the floor with this mixture as well. Do not reuse any of these materials and get all new ones. It's a big job, but it will do the trick. If you have a basement or live in an elevated house, do the same there.
i use to be a general contractor in the mid-late 80's and would buy a foreclosure every fall to rehab over the winter and never had an issue with any of them. but then i was doing it to keep my crew busy and not trying to make a living off of each one but did profit from every one. i had a realator that would find them for me so she would get the sale listing and she loved my work . she use to beg me to do just rehab homes as she believed she could sell anything i did quickly because of the quality.
darangemaster1 You’re like my dad.
My uncle was a union steel worker but knew almost everything about home construction. After he retired, he would buy dilapidated homes, fix them up, and rent them out. When the market turned up, he would sell the homes. He made a ton of money doing this for twenty years, long before anybody heard of the term "fix and flip".
I agree, Jack! Flipping should be reserved for flipping pancakes or hamburgers, not houses!
Yeah you should just tear down all old houses! Real good for the environment.
I love fix and flips, they give me so much work. I’ve gotten 4 of my last jobs all in the same neighborhood and the same flipper running new joists and subfloors.
The guy bought a bunch of flood houses that all suffered from powderpost beetles. He sistered some joists, a few blocking and threw in some 1/2 Inch on top of the original 2&1/4 oak to try to remove movement. Put in freefloating floors to hid the rest. Didn’t even get it treated with boracare.
After two years the beetles had eaten into the new stuff and floors were collapsing.
Did the first, one of the other neighbors saw me working and talked to me and owner. Boom next job, so on and so one. Just got a call for bid another one Monday morning.
I've inspected so many of these fix and fips here in Illinois! They come in and like you said spend good money on cosmetic stuff while ignoring the important issues like foundation wall failing because the driveway is sloped toward the garage and no french drain installed so rain water puddles in the garage by the adjacent foundation wall for yrs. I inspected a little house listed as fully rewired. Got in the attic and almost stepped on a live knob and tube wire that was bare, while trying to avoid that I felt my hair rub something and looked up, another live knob and tube wire just hanging there. Costed the sellers $1500 to have all knob and tube removed. I would inspect houses listed as fully rewired all the time only to find the truth in the attics and basements. And the real estate agents think your just a naive inspector just trying to look important, because either they just don't care, or they just can't see past cosmetic beauty, I've dealt with both. This is the main reason I got out of it. And here you have to be licensed and insured. And I started charging more for rural inspections because no city inspections apparently means you can do what ever the heck you want. You wouldn't believe the diy crap I've seen in country homes. Reality TV is far from reality. However, I do think if a person understood both real estate and construction, there could be nice profits even with an honest flip, but if you want to get rich over night, your probably not an honest person anyway. To do it right, it's just a job, not a get filthy rich over night kind of thing.
Poorly maintained home is worse than flipping.
Nathan, yeah I watch those flip it shows. What makes them think it's ok to make a hundred thousand dollar profit???? It usually only takes them 2 or 3 months, they're figuring in $33,000 to $50,000 per MONTH wages for themselves! That is just price gouging greedy IMO. Even ten thousand dollars a month salary is over charging. They hire out the work, they don't even have their own tools. 1 show guts every kitchen, some have brand new kitchens that they don't even try to save to donate or sell.Kitchen cabinets are screwed in, why does every flip it show I watch demolish the perfectly good condition cabinets & countertops? Is that done on non tv flips too? If so, why?
@@cre8tivplace222 I agree, but if you want something done right, do it yourself. That includes building a house in the first place. I don't trust some company only in it for the money to build a house FOR me. If buying an older tract home, I'd NEVER let someone else do the work on it. I want to KNOW what I'm living in. Should be illegal for someone else to do your work for you.
Nathan , Missouri Rule is the worst place to buy a house , No CODE no Inspections , I have seen 3/12 run 500 foot with 2 lines to get 220 to the house from a pole , 20 outlets on 1 breaker fridge TV Microwave , they even took the 220 line from the Range stove and went to a clothes dryer and 4 other outlets . Not counting no flashing in valleys or siding doors , also termite damage seal plates gone floors bounce like trampolines . 2 homes I went into I flat out said burn them and rebuild . Log home built on a 4 inch slab the logs had rotted out and sank 3 to 6 inch , had a full front back porch , 2x4 nailed to the wall of the logs had rotted out the logs 9 foot high all the way through , only way to fix it would be remove the roof and logs down to the "footing" it did not have just the 4 inch slab , water under mined the slab , poles inside went through the slab the upper floor and roof saged 16 inch. the homeowner had no idea till I showed him with a 6 inch pocket knife pushed it through a wall how much rot he had . Seen it on Zillow listed for 160,000 after I said Burn it down . Not worth 20 Dollars , the land 10 acres butted up to state land, might bring in 20 grand it was just hayfield 1000 to 1200 per acre.
How would you recommend a DIY enthusiast learn basics and build up to learn how to do things to code and beyond? Is there a home remodel for dummies or all- inclusive encyclopedia that goes over all the "common sense" that a lay person may not know without it being pointed out? Been watching a lot of videos and learning a bunch but afraid of missing important points not covered. I was worried about having to spend money on permits but figured maybe they'll be good consults anyway... but now sounds like permits pretty useless and not reliable anyway?
35 yrs in construction and 20 as a contractor and I wouldn't buy a flipped house 90% of the time.....
I bought a Fix-and-Flip from a local big-time Realtor who has been doing this for quite some time. It is our first home and it has been a nightmare since we moved in. The home inspector and subsequently, the attorney I hired where both friends with this guy so needless to say, I was at the bottom of the hill that those proverbial "turds" we've always heard about roll down. Both facts discover afterward. I'm not complaining however, I have learned more from owning this home than I could have ever hoped to learn any other way outside of working in each trade. I've always been a perfectionist so my remodel has taken me years. Shortcuts drive my mad. Furthermore, I have learned a life lesson about the level of trust I place in certain types of people as well as what to look for in a home inspection. I have looked at a number of homes since and am often more critical or revealing than the home inspector himself. I appreciate this channel and the work you do. If I didn't love my current career as much as I do, I would love to do this instead. Keep 'em coming brother!
New house builders are just as bad for cutting corners it’s not just fix and flips . New houses in the UK and I’d guess also in the US are poorly built
Lori Latta My point is you can’t generalise some fix and flips will be crap but also some new builds will be also
They are, however the builder has a presence, and bonds, and other elements that protect buyers in the opinion of the government.
Another thing is that over the years I have been in many new homes, and the sales office is still open, the construction super is there, and if I encountered issues, the owners got him from down the street, and he got things taken care of.
Builders bring the average home quality down, in my opinion.
I was a superintendent for 5 or 6 years building new homes form the $150s up to the $700s. I could do a video on my experience on new home construction vs buying a remodel house vs old construction.
The Handyman I'd love that one, I prefer the older, 40s houses, remodeled by owners.
But, but, you simply must but to the bone, and redo it all. I recall a nice little house a guy I knew gutted, and you could see all 4 walls from the front door.
Thanks for some good info. I've watched many fix and flips here on YT but I have not seen evidence in any of them where new wiring was put in, and many of these homes were built 30, 40, or 50 yrs ago, some have been trashed and some unoccupied for awhile. There is sure to be some things that are not up to code. I bought an older home (non-flip) and I didn't find out that the wiring was screwed up until I had a fire. The inspector showed me where it started. Among the many things that potential home buyers should question is the electrical wiring, whether it has been upgraded and if so, ask for the paperwork. If the seller is reluctant ... you might want to rethink that purchase.
I moved into my rental in Georgia and there were no smoke alarms. You're my mentor now, since I'm starting my handyman business. Thanks for your videos! Invaluable!
Hey I'm new to Georgia too would love to work with you
Sir, the title of this video is "Never buy a fix and flip..." Some of us would take great offense to you attacking our trade based on some experience created by one person's shoddy work and lack of pride. I could very easily state "Never Hire a Handyman..." Because the industry is loaded with rip off artists with hammers. I watch and appreciate your informative videos and am able to incorporate a lot of what you share into my work. You obviously care about your work. So do I. I do not sell shoddy work. I take run down houses and fix them better than 90% of what any diy home owner could or would ever do. So when a customer buys one of my houses they are getting a nearly new home with solid quality built in and all the major problems are eliminated for them. Compare that to most homes who are sold by homeowners who can't tighten a bolt and didn't address any issues for many years. So for those of us who take pride in our work in all areas of the building industry, including you and yours, can we refrain from applying public, blanket, negative declarations against an entire trade / business model ? Thanks.
You are totally right about this. I got suckered into buying one of these shiny pieces of shit. It looked great with all the eye catching bling but after 2 months of living there I got a notice from county that final building inspection never passed. I’ve been fixing things ever since I moved in. What a nightmare
Thanks for commenting on this topic. Its good for viewers to see input from other people that have had this same type of experience.
In NJ that's fraud {NJ Consumer Fraud Act} if seller did not disclose final inspection never passed. I think now all the states have some type of Consumer Fraud Act" I would sue for damages if i was you & get your money go talk to a real estate attorney!
There's also the notion of seller disclosure, which is required in PA. A seller has to disclose any defects in the property to any prospective buyers. Excluding any defects from the seller disclosure is considered fraud and gives the buyer recourse. I find it hard to believe that a court would accept that a flipper that just renovated a house would not be aware of the property's defects.
You didn't get suckered in, You decided to cheap out and not get a home inspection for $500. That's on YOU! Nobody made you buy that house. How about you take some responsibility for your actions or lack thereof and stop playing the victim.
How do you purchase a home without completed inspections? A risk you decided to take?
I do agree. A lot of flips are very shoddy work upon closer inspection. Not all are this way but there are many that take shortcuts or the cheapest route possible. I've seen many 'flipped' houses that get an offer quickly but then go back on the market after a month or so after I assume the inspection is completed.
The way they make money on flipping is 1) reselling as quickly as possible. The expense isn't the cost of the house (they make that back when they sell). The expense is how many mortgage payments they make so they want it back on the market in under 30 days. Speed is worth more than quality. 2) being able to cut costs. The flipper will tell you this comes from having connections, knowing the market and cutting out middle men. Often it includes knowing how to hide problems behind paneling and paint.
Thank you for the great information. 1.) You are awesome for asking the owner before you threw away the appliances in garage. It could have been valuable to them. 2.) Inspectors need something to gripe about in their report. So having a couple minor violations like the required number of smoke alarms will detract him from complaining about other things. But of course, always have working smoke alarms in house.
so basically "dont be an office clerk and watch HGTV one weekend then decide you can flip houses"
so 24 minutes later, you really didnt say why not to buy a fix and flip except for the corner cutting. would have loved for you to stay on point instead of the rambling or given more details about what to look for
You answered your own question. That was the reason.
This is just a clickbait title ffs 🙄 this house looks amazing
@@halroxdynasty8683 It _looks_ amazing, but that's just the surface level. You need to have a look at what's underneath the floors, behind the walls, the plumbing, wiring and insulation if any was put in. You need to look at the walls themselves and see if any load-bearing ones were taken out.
No permits pulled,thats why you should not buy it
No permits on the plumbing, electrical, mechanical or structural on the wall removal. Two buyers aborted the deal after their inspectors gave qc issues. There may be a dip in the ceiling, and there may be nightmares in the electrical--ungrounded switches in bathrooms, bath vents to the attic instead of outside, small leaks in the plumbing. I've seen a lot.
What about the houses that the homeowners haven’t done any maintenance on them in 20 years?! This could be a warning about buying ANY house. There’s always a chance of shotty work!
One of my pet peeves is finished basements especially when the ceiling is dry walled. Termite inspector: Not accessible so we just ignore.
I just bought a house that looked old inside but with good bones( I literally crawled under the house, into the roof, sent a camera down the pipes and checked the eletrical work out before i made an offer on it). Tore up the shag carpets at found THICK old hardwoods, Refinshed all of those myself, I gutted the sheetrock completely to studs in entire house myself, got pallets of sheetrock delivered to the house and had it setup for a local sheetrocker team to do the whole thing in 1 day for about a thousand dollars labor. Took down all the old cabinetry, sanded it all down to wood and stained it, new knobs,hinges etc. Refinished all the hardwood doors in house myself, painted the others. Painted the house myself after sheetrockers were done. I had a real estate guy I know come and take a look after It was all done and hes thinks I could sell it for nearly DOUBLE what i payed for it. I literally have only 10-15 thousand in materials and labor since I did almost everything myself. Had I hired this work done it would be closer to a 40-50k project. My advice is do the work yourself if you want it done right AND CHEAP.
Cory R how did you find someone (an amigo?) To do sheetrock for $1000 labor? (I'm assuming 1200 sq feet 1 story home?) Damn that's a good price.
You should only do things you _know_ how to do. If you want it done right and cheap either do it cheap or do it right and hire someone who knows how to do the repairs etc. properly.
.
Strong bones make strong skins
i tend to agree with you. most of my 119 year old home has been diy. tho ive been in building trades 3 years when i baught it. and ive been a metal fabricator for maney years. so came fairly ezy to me. tho there are people out there that have no bissness attempting to fix anything!!
I'm living in one of my flips. I have two little babies and tore the house to the studs. I personally put my hand on every wire and pipe to make sure they were 100% before I moved my little ones here. I sold my other house for a profit and will sell this one for a sizeable profit. I put excellent materials in this home and it will make a fine home for someone when i sell it.
Not every house is the same nor remodeled under the same circumstances.
Hey, I'm looking into flipping houses. could you lend some advice on the best was to find and purchase a house to flip?
Shouldn't it be "Never buy a fix and flip from an unscrupulous hack"? I've done them, and always use the "would I move into this house" as a bar. The house isn't going on the market until it meets that level.
David Wentz that’s a good standard. I think you’d be able to flip more if you realized anybody will do anything for the right price.
Hey, I'm looking into flipping houses. could you lend some advice on the best was to find and purchase a house to flip?
Unfortunately you're the exception. Most people are doing it to maximize profit. You should team up with some realtors that know you and your work to highly recommend to potential buyers.
been there done that . i do the same type of work . affordable painting and repairs-angies list. i've come across alot of people i mean a lot. it comes through exp. one or two out of ten opinions concerning the potential customer are wrong. i go with the gut. loved when you said you overpriced the job. best way to walk away.i'm 59 and have believe if you do the right thing and make an honest living it doesn't get any better than this. 2 bad days eight good days pretty good percentage in my opinion. may the force be with you--
Good for you. I'm a homeowner, and a single woman. I've used the same handyman for years now, and I always pay him MORE than he quotes. I've done a fair amount of work on my houses by myself over the years, so I have a good feel about costs and what it takes to do a job. I think this guy I use doesn't charge me enough, so when he finishes a job, I pay him what I think the job was worth----which is always more than he's charging. I'm retired, on a pension, so I'm not wealthy by a long shot. But, this guy, like me, struggles financially, so I don''t think he's in any position to give me "charity".
He and his wife, like me, are in animal rescue, so he charges only $25 an hour for anyone in rescue. He works FAST, so often, what he does for me takes him no time at all. So, I look at "the job" and calculate what someone else would charge me, and I pay him, accordingly.
The highlight of this video was the intial shot of the load bearing wall removed to "open up the home" and later was said while driving that the ceiling is already drooping down several inches, that beam looka extremely undersized for the span it supports, later it will have to be fixed with a couple columns and refinshing.
That fly by nighter made some good coin. And I've seen plenty of cases where home inspection & even permits didn't keep shoddy building in check.
But yes, walk away from remodels without permits & check your home inspectors credentials. Never use a realtor provided inspector. Get your own.
Re the dump, where I live in Belgium everything is separated you just can't throw it all in one pile. I like your channel. JD.
I’m a retired GC and licensed electrical contractor, now doing handyman work that the big boys do t want to do, because I love to fix other people's crappy work. I’m the homeowners hero for making it right! My policy for 40+ years in this business has been "NO WORK FOR BUILDERS OR FLIPPERS!" IMO, they are nothing more than bottom feeders who don’t care about the "bones" of house, only the gingerbread. To this day, I only work for owners who are upgrading their homes, and not fixing to sell. Sadly, there are guys out there who will do anything for a payday. Maintain your high standards and you,l be able to sleep at night, knowing that your client and their family is sleeping safely each and every night.
Ryan Simmons he's looking for a soapbox you're looking for some legs to stand on
you are a good man with real heart.
You are a little head strong and opinionated. Some sellers need investors because they can't in anyway sell retail.
@@stargateproductions its a tough business for all parties. 100 years ago was quality built but now plastic and unlevel walls.
Joe Valencic, I agree. I'm currently working on a house to be flipped. It's a 100 year old house and everything mechanical was bad. It's been over 3 years, on and off, working on it and it's still not finished. If you don't cut corners, it's a long process. If you do cut corners, you are asking for trouble and it's really a bad idea.
An exception I find reliable is when the seller renovated for themselves long term and a life change has them listing the newly renovated property.
Wife and I bought a fix and flip house. First house I ever owned, so I learned about all the issues while living in it, haha. Issues include bathroom tiles not flush, rotted door jamb, warped wooden doors, no caulking around tub, some painted areas were not primed and began peeling, furnace not working properly, no beveling on bathroom tiles, shower drain not properly installed, and a few more. Be careful out there.
LOL and that doesn't even scratch the surface.
Miguel Chavez Damn man hope it doesn't get worse, your right about the good looks but upon closer look it's not done well. Kinda like people may look good but the inside is rotten lol good luck
Examine new walls from the attic down.
Contractors typically DO NOT prime drywall anymore, even though most paints do call for priming new drywall. So, it would be unusual for the paint NOT to come off the walls of a new, or newly remodeled home, as the paint the government mandates nowadays is crap.. just color and water basically, no oil or solvents in it like there should be.
And all of that would have been found prior to you buying the house if you had done a home inspection. But I'm guessing you didn't want to spend the $500? It always amazes me how many people think they are saving money by not getting a home inspection. Then when stuff is found after they move in they act like a victim. You're not a victim, you're cheap. You gambled and lost. It's your own damn fault. As an investor, I always provide a home warranty and strongly suggest the buyer get a full home inspection. Don't blame the investor because you were too cheap to get a home inspection to uncover all of these items prior to purchase.
The first place you go when buying a house is the BASEMENT. Never mind the pretty granite counter tops or nice tile bathroom, that stuff is easy to change, ...... look in the basement to see what's under everything.
what if there's no basement and house is built on crawl?
Get under the house and crawl
what was your net profit on that little cleanup job?
I just sold a house to an experienced Realtor at top dollar per square foot in the area! The comps info say that we did well on the house. He sold it as is with no inspections at all. That wasn’t even my request! It was his. Before he said he wanted it and put it on the market I told him the 2 small things that I knew were wrong. He had ask me before I sold if I wanted to rent it out and that he’d be able to help with it, he said he could probably get great rent but I passed on that! We sold it him 9/28/21 or so and has renters already lined up..he told me! Win Win Win! 🤷🏻♂️😊
I am an Electrical Contractor and am often asked to do handyman work. One of my ‘pet-peeves’ is when I see shoddy workmanship done prior to my arrival. I usually don’t get the repair job because I am ‘too expensive’ . But what am I suppose to do when the kitchen lights are hooked up to the stoves 50 amp double pole breaker circuit and the homeowner just wants the light fixture replaced. ?
I couldn't agree more. I was called in to fix every painted surface in the flip that was ruined by the flipper hiring some cheap kid to vandalize the house. He followed me around asking me to work fast and furious and also cut corners, and I walked off the job. Every "contractor" coming in was unlicensed and also vandalizing the property. The flipper is a general who has absolutely no idea how to work in any trade or what qualifies as good workmanship. It looked all shinny and new when done, but I know it's a complete piece of garbage, with the flippers friends doing the electrical repairs. Scary! Of course no permits were pulled. What a dirtbag, pity the person buying it.
its pretty crazy how much some flippers make. saw a house that foreclosed at 400k, and it was on the market again at 800k after 3 months or so. i know this cuz i wanted to buy it, but couldnt because i didnt have enough cash. assuming that the buyer spent 100k to fix, the buyer still made 300k, or at least 200k, in profit in just 3-4 months worth of work. that's some serious cash!
I swear I thought you were describing the house I bought when the video first started! My house looked beautiful and perfect when the realtor showed it to me. I had it inspected by someone who I thought was a reputable, licensed inspector. The reported issued were taken care of. Three years later, major pier & beam foundation damage that should have been reported in the inspection caused the new floor to completely pop up! After speaking with the people who lived in the house before the flippers bought it, I found out that they had already been given an estimate for foundation repairs before the house went into foreclosure, so the damage wasn’t a big secret or difficult to see. I absolutely LOVE my house because the layout is perfect for me, but the damage that was intentionally hidden/covered up was a very expensive lesson for me. I will never trust anything else a realtor or inspector tells me unless I see proof of everything they’re telling me with my own eyes.
In the beautiful state of Alabama (at least in rural Alabama,) we do not have to have permits for home repairs or renovations for the purpose of sale. The State requires permits for some sewage applications, but in general no permit is required for too much of anything. That in itself can be good and can be bad. Other that your own knowledge and possibly a home inspection should YOU require one are the only safeguards against cheap, shotty work being done by any Joe blow calling himself a handyman or a contractor. That said, word gets around fast if you come into these parts and do less than good, compliant work.
Yet another reason why it is always important to get a home inspection done by an experienced home inspector when buying a home, regardless if the home is a new construction or resale.
Maybe… but like everything else: financial advisor, real estate brokers, appraisers, inspectors… it depends on the person.
Are they going to cut holes in the drywall and see if there’s wood rott or if all plumbing is updated?
There’s a lot an inspector could miss that is hidden.
Just make sure you know the inspector is legit and has been doing it a long time. And make a list of questions to interview them on.
IE, how will we know the foundation is solid? How will we know the plumbing is all pex? Etc…
I live in AZ and the State doesn’t require any inspections BUT highly recommends them. I have bought and sold a few homes, but none of them had any major remodel or anything added that would require a permit. I think AZ is much like where you live. Thx for another great video, you Rock Handyman!!! 🌵😎👍
Agreed, we were dazzled by all new hardwood floors, all new bathrooms, New roof, & everything freshly painted. Strangely the closet doors were all missing. 2 months later none of the bedroom doors would close. The smoke detectors kept going off for no reason & wouldn't shut off even when I pressed the shut off button. The cellar famiy rm became covered in mold, not just walls, even our furniture got covered in green fuzzy mold. There was no mold or mildew smell when we looked at the house. They put carpeting glued onto the basement floor, it was a huge mess. They left old appliances they worked & were better than what we had so that was no biggie, But the furnace died, & the water heater leaked, so those had to be replaced too. Oh yeah, they installed new vinyl siding themselves on the outside of the house & they didn't do it properly, pieces that hold the ends together weren't even nailed or screwed on, Our home inspection pointed that out. There were electrical outlets outside that didn't work. & a pocket door they installed in the cellar family room wouldn't close or open, that's the room where all the mold appeared out of nowhere. It looked like a nicely remodeled house, we didn't know it was a flipped house, didn't find that out from the real estate agent. Ended up selling it because it would have been too much work & too costly to repair everything.
I can appreciate what you're saying about a house flip. In my neighborhood these flips sell very fast. They are basically nearly 100 years old when remodeled in the lease expensive way possible. My own house has been on the market for over a year and doesn't sell. Same square footage, same bedrooms and bathrooms. But, my house has been remodeled over the years with top quality items and workmanship. Most folks do not notice. No one notices the cherry cabinets and custom storage. No one notices the higher quality wood cabinet boxes, upgraded hinges, crystal knobs and wooden lazy susan. No one notices a custom bathroom with stone tile, a jetted tub and heat lamp drying system. No one notices wooden floors throughout that are refinished. No one notices completely modern decor. No one notices custom floor to ceiling windows. I should have just done a cheap flip with crushed board cabinets fake finish. And my house isn't grey - so sad. Thank you for the video!
I would have noticed all of those things and gladly paid a higher price for them. I'd rather have cherry cabinets that last a lifetime than something that will be dated in 2 years. (I don't care for jetted tubs though, but that's the only thing I would change on your list). So sick of our mentality that our whole interior has to change every few years to stay in style. Quality should never be "out" and thrown in a landfill.
If your house has been on the market for 1 year and no offers I I guarantee its priced to high
If you think no one noticed those things you're wrong. I think you're over pricing
Crystal knobs? I think I have a clue why it is not selling.
After I installed airbags on my tundra not sure why I didn’t do it sooner... thanks for the video.
I’m so glad we didn’t make an offer on a flip I toured Monday. I’m a second time home buyer who was sucked in to viewing a home (didn’t know it was a flip at the time) because the HGTV-inspired paint, cabinetry, floors, etc. made the home look modern and inviting. As soon as I stepped foot on the “newly paved” driveway I knew it was going to be an absolute mess. Paint job on the interior was horrendous. Cheapest materials used for everything. I opened up the patio door to walk on the deck and the handle fell off. Just a hacked up mess. Then I discovered the owner on Facebook, who was bragging that she completed most of the work herself and it only took her a few months to “flip” it. Just horrible.
You never fail to give me new ideas and things to watch out for in the course of my own GC work. Went out on my own a few months back and not looking back. Love the content! Thank you!
Always look past the looks of a home when you buy a home, a good home inspector is worth his weight in gold 400 dollars well spent you are 100 percent correct
The problem is that there are too many people doing flips that don't know what the blue hell they are doing!! I know a couple doing them that didn't even know there were codes!!! Codes are there to keep us safe and alive folks.
sometimes codes aren't that great.
requiring fire sprinklers in steel-trussed, masonry framed, slab-on grade homes with tile floors, b-deck sheathing and metal standing seam roofing with rockwool insulation?
nah.
whole house backflow prevention rules? not at all worth it.
I feel for nsive retail buyers these days and rehab seminar jockeys.
"meets code" means CRAP. EXCEEDS code by a long shot is what you want.
I'd rather people not waist money on government permits and just take pics of the rehab along the way so I can see behind the walls etc.. This has worked good for people I know. Stop letting the mafia shake you down for so much money.
I completely agree that most codes are there for a reason, but you have to admit that some are just completely asinine.
I sold a house for 180 that I rewired and replaced half the plumbing on, a mirror house across the alley that was a fix and flip without a garage, with knob and tube and bad plumbing went for 230 2 months later. I looked at it, they did a much better job refinishing the oak floors than I did, they put good tiles in the bathroom with the old tub and a nice vanity, they added subway tiles to the kitchen with new granite or similar counters and painted the same cabinets I had to white instead of golden oak.
I don't think I could bring myself to polish a turn to that level, but I believe I will always repaint the whole house and add a coat of polyurethane to my floors, as I sell my rentals.
I am a forensic architect and many of my jobs involve going in and evaluating unpermitted construction then designing a fix for subpar construction. Almost every city has a website where anyone can check to see the permit history for a home or commercial building. I recommend all home buyers look at the permit history for a home they are thinking of buying especially if it is a flip. If you have questions, you can usually talk to an inspector to see if they have any insights. And you are correct that a municipality never steps in to a sale where unpermitted work has been done.
The problem with this is in the popular cities. Homes sell in a few hours and there are never conditions for the sale. If you want to get a home inspection the home will be sold before you even make the call.
There is no shortage of uninformed people not doing their due diligence. Checking the permit record is better than doing nothing. It doesn't take much time to check, maybe 10 minutes. I do it for every property that i write a Cause and Origin report for. You had 3 1/2 to 4 months of construction on this particular property. If done properly, the permit should precede the construction. I'm in the SF Bay area and 4 months is more than enough lead time. Even if it hasn't made it to the electronic record, you can call the building department, or go and stand at the desk until you get an answer. Or buy it and take your chances. All I know is there is no shortage of work for me.
I know the realtor and no permits were pulled.
This was very helpful. My husband is purchasing our home with a VA Loan and I am hoping that the VA inspectors are better at their jobs. He wants a house that was updated with little work to be done on our end.. which makes me nervous. We have a very good realtor to help us. Crossing our fingers.
Nice video. I will never buy a flipped home. Once upon a time I did home remodels and I have seen some serious mistakes done by fly by night and inexperienced or short cutting Contractors along with the homeowner cutting his or her teeth on a DIY job. I shut down my business to become and Engineer so glad because there are those now that will nickel and dime a job along with those that will stiff you for the work done. There is a saying you can put lipstick on a pig, but that pig is still a pig. Just a nicely dressed up pig. You get what you pay for and sometimes you pay way more than it is worth.
I have a BIL who says he wants to retire up north and go south to flip houses, LOL, (love him anyway). He says he wants to come to FL because he heard from some of his "friends" that you can still buy cheap foreclosures and flip them. I live in FL, I tell him it's 2022 not 2012, but he insists his "friends" told him that they made a ton of money recently, he doesn't know how much and not sure where in FL. There's always going to be suckers grabbing for the brass ring.
Typically they just do carpet, paint and toilets. Economy box production using cost cut savings, cheap labor and materials. If the inspector and appraiser are good they will give an evaluation of the work. The buyer dug into the renovation and discovered no permits were pulled on the removal of the bearing wall. So upon inspection they lowered the offered and walked. I have a real estate license so I’m taking an educated guess, from what you discussed.
Loved the exploding glass and toilet !
I agree fully, flipping attracts the biggest scumbags in the industry. I been in construction for twenty years and don't even talk to them.
I work in software, and I find the comparison interesting. In theory, software and buildings should be constructed in the same additive, foundation-first way using proven practices and materials to build something solid that will last with occasional updates to the facade. In practice, the software industry is loaded with glorified weekend warriors creating chaos for people who aren’t willing to pay what it takes to do the job properly exactly the way I imagine this fix & flip going.
I love that u slow mo breaking the toilet and playbacks on the glass was epic... idk why when I throw something away at dumpster I always have to destroy it too
The sagging and spacing between doors will have to be redone or bugs, mice, etc can enter the home. You are very right on flips,....be careful.....
I love this, it always feels like some contractors/handyman gossip xD the tea is scalding lmfao!. Love your videos especially ones like these ((: 💚
I'm an electrician and what this man says is true ... I see corners cut all the time around other workers when I wire fix and flips ..I always feel bad for the new buyer's.
I agree that your intuition is spot on, reading a customer is as important as the collection. I give my price and stand by it, people that try to nickel and dime the labour, I simply tell where to go bluntly and with no shame and or compassion. I am well known, respected, and now only work through references, and I am busy enough as it is. I now only work hourly, and get paid daily, which my customers appreciate because they see both the savings and the quality workmanship.
I've been flipping homes for 18 years. Some "bad apples" are definitely out there.
We make everything right, from top to bottom! Costs more, but you fly through the inspections, and I have to sleep at night.
Have to buy them right! The $ is made on the purchase, NOT the fix and sale.
^ This . "The $ is made on the purchase, NOT the fix and sale."
We briefly looked at a home that was what I'd call a 'soft flip' - house wasn't in bad shape, just cosmetic stuff. Painted inside & out, low-mid grade new carpet, granite in the kitchen. He'll sit on it for another 2-3 months because.. even though it's in a good location, I'd need to put another $30k into it to make it truly worth what he's asking in that neighborhood - needs wood floors, bathrooms, and has a few strange floor plan things that could be corrected without any compromise.
We passed.
Hey, I'm looking into flipping houses. could you lend some advice on the best was to find and purchase a house to flip?
A home inspection should include a licensed electrician, plumber, HVAC and structural engineer. All four could visit the house and be done in the same amount of time compared to a single home inspector for about the same money lol
Just found your video. I am from NY and when I bought my house which was a rebuild (by a contractor) my lawyer looked at all permits and made sure everything was done by the book. It was so I bought it. A friend of mine was going to purchase a house and his lawyer found out an extension didn't have permits pulled. This wouldn't hinder the closing but warned my friend if he needed work done or wanted to sell the house he would have to pay extra for city code. He ended up dropping his offer and getting out of the deal. Again no one would bother enforcing law until more work is done by professional.
I used to be an Electrical Inspector for a city. I have seen closing held up by buyers that required the non-permitted work to get inspected. So not held up by the City but by the buyers.
My husband and I are just getting into the fix and flip business and we are doing everything by the book. We have pulled permits for all things that are required. Please don't lump everyone in the same category. We plan to have a solid reputation in this business and our houses will be able to pass any inspection at any time.
When ever a customer starts to haggle down my price intensely I walk. Experience tells me they then will knit pick and give reasons not to pay at all. Or only a portion.
I'm a homeowner and whenever I am given an estimate for work on my house, I always say, "Okay" (as in "thank you for the info"). I always assume that's the PRICE. I will usually get 3 estimates for the work, and then I see which contractor I'll use. But, it's not always the one who gives the lowest estimate. I judge the overall transaction with the person, and with some guys, I'll have a better feeling about them and how well they'll do the work, so they might be a bit higher than another one, but I'll still go with them.
But, my point is that I've NEVER haggled. Lol. I figure they're giving me their best price and if it's too much, I can go elsewhere. Am I doing it wrong? SHOULD a person haggle? Since I can't give a good reason for why their price should be lower, it's impossible to haggle.
I have a saying when I bid jobs “ I may be slow but I’m expensive”
As a handyman and realtor (non active in Pa)) you dont have to have an inspection to buy a home...if your buying FHA the bank will do their own inspection. never heard of anybody ever checking for permits....permits are required here, but alot of people dont bother if working on their own home
Only fixed and flipped 3 houses with out cutting corners. Glad you can sit there and say otherwise. Most of the repairs I had to do was from home owners that lived in the house more then 10 years. Like hanging a glass door with finishing nails. Not insulating the door frames, in Alaska! Rolling up electrical wire in a junction box that wasn’t being used anymore instead of pulling it out. You know, short cuts from home owners...
The purpose of a house flipper is to make money, so yes, negotiating and finding the best price to get work done is imperative in order to profit. But not every house flipper is going to be this lady you're talking about.
The purpose of a contractor is to make money, so yes, getting the maximum amount of profit out of his own work is imperative in order to profit. Not every contractor is going to be good. Plenty of contractors out there will rip you off, never show up on time, do horrible work, need their work redone by someone else, etc.
This is a one-sided opinion from a contractor. To anyone watching this video, keep that in mind.
I keep away from flippers, slumlords, I also over quote so I can walk away peacefully when I sense a degenerate cheapskate.
muniznick you adopted my company moto. I also stay away from builders. They are also low ballers.
Minimal, not everyone can afford the exorbitant pricing of some handyman. I got 3 estimates to sheetrock a 10x12 room (I supplied the sheetrock) no taping or mudwork. 1 guy said $300, 1 guy said $800 & 1 quoted me $1500! That's a HUGE discrepancy! The $300 quote was for 1guy. 2guys for the $800, & the $1500 quote guy said it couldn't be done with less than 3guys, staging & a bunch of gobbledygook. I hired the $300 guy he did a perfect job with a ladder and a thingamajig he made out of 2x4's to hold up the ceiling sheetrock. I have found that alot of times handyman etc way overcharge like they think everyone is a gadzillionaire. It used to be "quality work for a reasonable price" now it seems it's "get whatever you can price gouge out of a customer" I had same prob with electrical work. 3 estimates, 1 $40 per hour, 2nd $80 an hour, 3rd was $150 per ceiling fixture! All estimates were for the same exact work to be done. Can anyone explain a legitimate reason for such a huge discrepancy in pricing? I think this is one of the things that needs to start to be regulated. They have regulations for stupid things, but Hardley any prevent the consumer from getting ripped off.
Muniznack, not minimal. My corrector changed it :/
@@cre8tivplace222 SOMETIMES....its overhead.insurance workmans comp.company vehical..all cost money and you get to pay for it..im a one man band with an old truck.old painters whites and 30 years in the trade and a second generation painter..theres been times ive tried to help homeowners out and paint a room for 100 bucks cause i felt sorry for them..i know that the competition would charge 800..they show up new truck new painters whites 2dummies that are basically FLUFF..and sometimes ive gotten hard up and been on a crew thats chargeing 800 per room...and the company has had little to no true experience..customer was just paying for a shinny truck with logo..Secretary that couldnt get payroll right.and 2 dummies dressed as painters..the only way anyone can tell who is the crook thats going to do crap work and take your money and run is to get real live referances..not just pics..and talk to them and do the research..yes i know it takes time that you dont have but that is your answer as to why there is always a wide variation in bids..usually if insurance is a requirement thats the main thing that cost $ then if you are dealing with a crew vs an individual..worker's comp...then look at the truck there driven..$$$$ long winded but hope its helpped
@@cre8tivplace222 In Arizona, licenced contractors DO have set rates from the contractor's board. However, you can hire a handyman for about half the going rate IF you can trust him to do a good job. If you're paying only a fraction of the contractor rate, you're screwing the guy working for you, who can't live on $20 an hour unless he's living under a bridge.
Typical contractor rates here are $150 an hour. Handyman rates are $75.
Contractor has to pay for tools, INSURANCE, license, bonds, workman's comp, maintaining multiple trucks, inventory, taxes, and other fees. Note the INSURANCE. If something goes wrong, and you can prove it was the contractor's fault, it's covered. Plus he likely takes credit cards etc.
Handyman still has to pay for tools, maintaining his truck, etc. Typically NO insurance, you are liable, not him, if anything goes wrong. Cash only, no credit, no payments. He'll be using a rotary saw instead of a fancy cordless compound miter to get cuts perfect. You might find he's spliced wires wrong if he's never done wiring before, etc.
You want to pay less than that, you should do it yourself, or get the guy next door to do it for dinner & a beer. No guarantees, there, at all.
Here in Florida the home inspectors are now licensed, the licensed requirement began a few years ago. It's not required to get a home inspection done for the purchase of a home unless it's a FHA loan involved. In Florida they want most work to be permitted. It's always recommended to get a home inspection done before purchasing; however, even home inspections don't uncover all the "cut corners" that sellers do.
Beaches Home Services you will need a 4 point home inspection to obtain property insurance...even with Foreclosures in FL
Might not be required, but smart idea. Years ago, in my neighborhood in CA, a house went on the market and sold a short time afterwards to a young couple with a baby. Rumor had it that the seller sold "cheap" to the couple because he felt for them, being young and having little money.
About a year passed, and we learned the couple had moved out into temp housing. Baby kept getting sick, and finally the couple learned that the seller had hired a contractor to put an extra layer of drywall throughout house in order to cover up black mold. The house was a death trap. (The seller and contractor were indicted and went to prison. Don't know what happened to couple and the house). What kind of a horror of a human being would do that to a young couple with a BABY, for gawd's sake!?).
HGTV representative here. The game is buy a house that is livable and affordable for someone to live in for a while and fix things. Your average middle class person could buy the house when they come along. Not too shallow or materialistic. It doesn't have to be perfect. But you have really expensive taste so everything has to be different. Then you go in and put a shitload of tile and granite. It has to have granite. That's key. So you get it all decked out with exotic materials, or what appears to be exotic, but can be cheap. Gotta cheap out wherever you can. Especially on labor. That's also key. Then you tack on a big profit for yourself when you sell it again to someone who can go into debt for 30 years. They won't know any better. Sell that house. When you have thousands of people doing this around the state, you can gentrify the entire state with overly expensive, overly fancy houses that no one can actually afford and rely on real estate cliches about appreciation that don't apply to real markets
whats the bat for?
Getting paid.
Legitimate business.
what are you, a cop?
Bruce Wang for other contractors
yall seen them throw things at each other
Baseball...duh
Absolutely right. Flipper got to me in December. Worst job experience in 30 years.
I was a drywall finisher for 30 years before i started to flip. I never tell that to any realtors or sellers. Ive bought houses that people were convinced were total disasters because the drywall or plaster was trashed in a few rooms. I was able to fix it in about one week ( plus or minus a few days )in all my flips. I hired no one and paid no one. I used a board lift to hang full boards by myself. This work would have been thousands of dollars had i paid to have it done. It cost me less than $400 since all i paid for was material.
I never buy a house that has anything other than major drywall problems. If it has a major problem in any other area i pass. I have bought places with major drywall problems and minor problems in other areas. During my 30 years in drywall i was able to learn how to do 100% perfect drywall. Nobody in this area is able to turn out work that good. When people walk into a place i am selling that usually makes a hell of an impression.
Take a look at some of the drywall videos on CZcams and youll see that the vast majority havent got the slightest idea how to do quality work and the ones who are doing work that looks good are not doing work thats gonna last 5 years before problems start showing up.
You are so smart drywall is magical
But John, According to the majority of the "experts" posting here, "ALL" investors are no talent hacks that have no skills and only put out a substandard product. So it would be impossible for you to do a good job. Only the all knowing, god like "contractors" (who charge for bids, treat their clients like crap & think they are walking ATM's to be drained of as much money as possible) could possibly fix and flip and property correctly. And only those with huge crews that charge $150/hr. What about electrical, and plumbing, framing, roof, HVAC, windows, kitchens, bathrooms, flooring etc. Doing drywall for 30 years doesn't qualify you to do any other kind of construction. So I guess the drywall looked great but the rest of the house was ready to fall down? At least that's what the experts posting here seem to think. Oh and how dare you only spend $400 to fix drywall when a contractor could charge you several thousand to do the same job with their special magical tool and mysterious ways of attaching drywall to a wall. Using leftover materials from other jobs and charging you 25 -50% markup on purchased materials. Who do you think you are saving money? It's like you want the most for the money you spend or something. Like your not made of money. You should be ashamed for not hiring one of the professionals to over charge you for the work you can clearly do yourself. How Rude!
I know this post is a few months old but just wanted to share something I saw/learned in home buying. After 2 unsuccessful years of searching for a home in Seattle (2014-2015) due to fast rising home prices there, I looked to Tacoma where I live now and I was well familiar with it from growing up down this way and the very first house I saw was a flipped home, but my Realtor and I did a thorough look through and there is a small access area on one side of the first house he took me to and they had even dug out the crawl space and added bracing all over for the floor joists kind of stuff but in the end, I put an offer on it but was glad to not get it (outbid).
Another house we saw looked good but a few things kept us from even offering on it, one the island was too big for the kitchen, and two, no digging out of the dirt in the craw space and no additional joist bracing added, and it may have had an addition so the hall to the bedrooms were a half step lower if I recall than the rest of the house and it was not leveled out as the floors all sloped every which way.
I ended up buying exactly what I wanted, not flipped (needs updating) but solid and sound older small home in a working class neighborhood in a quiet area for a very good price and have been happy so far.
The ONLY big things the house needed, and I got that negotiated to be done by seller, the roof, sewer line to back alley and a few items the HQS inspector (required) noted along with a new electrical panel (old panel was 200A/240 service, but a FPE based unit) for a new one so I didn't have to deal with that myself.
I think inspections may not be required so much as highly recommended, unless on the state housing finance commission program of which I was on and on its down payment assistance program as well and yes, home inspections are a requirement and I not only got one inspection, but TWO and had a sewer inspection as the seller had NO idea the pipes from the house to the city sewer in the back alley were separating at the joints (clay or concrete, forget which) as it was not bad enough to be an issue, yet. So had that done by the seller as well. I don't recall any mention of a lack of permits even the back porch, now my laundry porch had a permit in 1968 for enclosing it but the job appeared to have been done likely by the owner at the time, and they piggy backed the replacement of the original enameled cast iron wall sink with a home brew base cabinet and a new sink, not sure. I still need to get to the utility company and the county for more info.
Good stuff here!
Watching that toilet smash was so satisfying. A video on home inspectors would be a good topic. My first house I bought years ago I didn't and don't regret not doing so, I am knowledgeable on a few things. My current house I hired one just because of the price I was paying for it wanted a second set of eyes to catch what I didn't. I knew what they were ablout going into it. On the one had it was cool for a fresh pair of eyes to go through the house with me. On the other hand he didn't he didn't dive to far into stuff. Like for example they mostly only test stuff for function that it in working order rather than if it to any kind of code or not.
You were smart to get out of the job.
hmm, he did clean the garage, easy money is his reason ;)
I do full renevations on apartments and have done a few houses. It really is not worth it to work for a quick fix and flip job. Not only do you have to deal with the nickle and diming but then the quality of the products that the owner has you buy or buys for you is so crappy that the job ends up taking you longer becuase of some crap you have to deal with with installing or working with a sub standard product, material, or part. I end up raising my price significantly to work with cheap materials becuase it can take me up to twice as long to complete the project if I constantly have to correct the little tedious things that go wrong with cheap items. So even working for these quickie guys is just too much of a hassel. I find I always make much less money from those guys and have a very bad experience with the whole thing.
I am a full time hvac tech/ plumber I do handyman work nights and weekends and anyone that heckles my price I walk away from. I have so much work and I figure after my 60+ hours at my full time job I’m not going to negotiate my price for side work. Usually the people heckling my price I don’t make any money on because it doesn’t stop at labor.. buys junk faucets or water heaters then expect me to warrant that junk. No way go big spend big. I don’t deal with junk lol.
I fix and flip and as an owner of the flip I have more renovation elbow room regarding permits, etc.
I also rely on trusted craftsmen for advice and/or sub work like adding 230V or major plumbing rework. The professional relationships took a long time before we became able to trust each other's word and work. So, when any if us needs a hand, we turn to: my electrician experienced a tree crashing into his kitchen due to powerful winds.
We all jumped into our pickups late on a Friday night and had his family home buttoned up from weather.
By following Friday, he was ready to finish the interior trim and painting.
His insurance came through and he tried to pay us (4).
To a man we refused and brought a couple six packs to warm up the renovation at his home.
Fun time.
We have professional relationships that rock !! LOL
Nothing in the state of Idaho that requires a inspection on a flip. I work on them all the time. I get into discussions with the owners all the time. Some times I do the work and over build and do it right, sometimes they have others do their work. I am slowly getting them to spend the money do it right, make a name for themselves as quality flippers. They call me to come do jobs now that need professional and quality work. But no permit's pulled outside of gas and electric.
PMPC Mining you are lucky, in Washington, they are up your hinny.
If you're changing any of the plumbing you're required to pull a permit, even to replace a water heater a permit is (by code) required . I would imagine if the electrical is altered the state would require one as well, but I only know plumbing code.
There is also self adjusting shocks.there shocks with springs,they work really well.
And they are way more expensive ;)
I bought a house recently. Mobile home, $8k. Neighbourhood is good. Have been doing most of the work myself w/help from family & friends. Had studs when I bought it, put up drywall, I had a friend who is a professional drywall guy do all the tapering, recommended plumbers & HVAC to update & repair things. 35 year old trailer has been gutted interiorly & rebuilt. Have rewired everything to code, painted & am in the process of doing floors & putting in baseboards & crown moulding. (Weirdly my state considers mobile homes vehicles & won’t do home inspections for them, tho I’ve had a friend who’s a retired inspector come out & check for my peace of mind.) 1 month of renovations in, & I intend to live in it until I find a home with land to buy. The additional $5k I’ve invested is now valued with the home at $80k. I don’t think I will get that much (if I got $30-$50k I would be quite pleased) but my cost of living is way lower than rent here & I’m happy living there for a few years.
I generally hate flippers & think they are a curse bc they artificially inflate prices for crap jobs.
When I was a kid they built a dam and had to basically relocate the town, so there were sections of old abandoned roads in the middle of nowhere. There was an old, abandoned hotel near the old highway overpass. I and my friends were 11 or 12, and we spend whole afternoons lugging toilets from the hotel up on the overpass and dropping them down onto the highway. Whey hit from that far up it was like liquification. Good times.
Always get the house inspected no matter how good it looks. Just sayin.
I paid a ton to have my flip & fix house inspected by a licensed home inspector before I bought it in 2017, and by 2020 the subfloor buckled so much that it pushed the new floor up. The damage to the foundation SHOULD have been easy to see underneath the house if the inspector had been as thorough with that part of the inspection as he was with the rest of the house. It was a very expensive lesson learned for me.
Great video! So true man! Lip stick on a pig! That’s why I charge $35 for estimates and weed out all the bottom feeders and tire kickers. 20+ year drywall and painting contractor here.✌🏻
Paul Peck good idea. ive been estimating filthy rich bottom feeders for a while
kick tires?
Paul Peck $100 estamates.. and it goes towards job. Bid high
Especially yankeys charge triple lol
Frugal slum lord
Love your videos and information. Im a local handyman myself and love any info, warning, facts i can get. Thank you. Be careful.
I flipped a house once and had pulled all the permits to do electrical work in the basement. Scheduled an inspection no one showed, called the township, they told me he was busy and I could continue working without the inspection. Permits and inspections are just for townships to have a revenue source.
I paid 32,000 for a flip at Myrtle Beach. Spent 5 grand and sold it for 69,000... used it for vacation a few times.
Great. How long did it take to renovate, sell and close?
I won't buy a house that has been obviously fixed up to sell. You are paying someone else a huge markup to fix the house, they usually did it in a hurry at lowest labor rate possible, and the fixer is not going live with the result.
Far better to get a house as is, then fix it up yourself.
Thank you for this information. Even with new building have your own expert inspector look at every thing. I bought a nice townhome and no real problems but I learned that when my realtor had her favorite inspector and recommended him, he overlooked a several things. His job was to say everything is great, go in with the sale. when I sold that townhome, the buyer had an inspector who found issues and things not done to code regarding the furnace. I had to pay for those to be corrected before it sold. I should have originally hired my own inspector not used the one that realtor always hires.
Thanks for the good advice. A home is an investment. A professional home inspector is worth every penny of their cost which is relatively cheap in consideration of the cost home.