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First flip questions

4,380 Views | 33 Replies | Last: 6 yr ago by mwp02ag
aggiebrad94
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AG
So my wife and I bought our first house and have hired a contractor to fix up so we can flip. My home is in a fairly ugly part of San Antonio and the landscaping in the neighborhood is non-existent. I had planned on just mowing the grass & weeds and making it look neat. My question is whether I should put in some modest landscaping like a small mulched flower / shrub bed. If so, what are inexpensive things to do over the next few weeks?

We plan to sell the house in February so I don't know how much we can plant during this time of winter.
SoTheySay
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S
IMO mulch is stupid cheap and high impact. I'd throw some down with a couple of plants and call it good.
DannyDuberstein
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AG
Agree. Stupid cheap and should take very little time. Within a couple of hours, you could be done entirely including the trip to the store/nursery. And it makes a big difference.
TX AG 88
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AG
don't buy mulch in bags. get a pickup bed load up north of 1604 along 281. there are several bulk dealers up there.
aggiebrad94
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AG
Thanks for the ideas.
Texker
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AG
Focus on the area around the front door to make the property more inviting.
mwp02ag
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AG
Cheap and easy way to stand out! The lack of landscaping around you will only make your minor improvements have more impact.

I just completed my first big reno on a triplex in Tobin Hill. I'd love to check out your flip if you'd like to show it off.
aggiebrad94
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AG
Will do. I'll come back to this thread when I'm a week-ish out from being done.
Rusty GCS
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AG
TX AG 88 said:

don't buy mulch in bags. get a pickup bed load up north of 1604 along 281. there are several bulk dealers up there.


For $2.75/bag I prefer bags over the discount of the truckload to avoid the mess
aggiebrad94
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AG
*** Next question

1) I imagine the house will go on the market for $150k-$154k.
2) Should I stage the house?

Had a realtor suggest I stage the living room, eating area, and master bedroom.
mwp02ag
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AG
My opinion is yes and have professional photos taken once complete. I have a great photographer if you need one! I didn't stage our newly remodeled rentals, and they still looked great in pictures, but having inspected a lot of flips in my two years as an inspector and the staged ones always look the best.
SoTheySay
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S
I typically wouldn't suggest staging at that price point unless it's awkward and hard to imagine. I am in a market where that price point is hard to come by.
valtosca
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AG
aggiebrad94 said:

*** Next question

1) I imagine the house will go on the market for $150k-$154k.
2) Should I stage the house?

Had a realtor suggest I stage the living room, eating area, and master bedroom.
I'd love to prepare a CMA for you. Contact info in my profile.
fdt00
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AG
Virtual Stage
mwp02ag
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AG
To clarify my recommendation to stage....$150 goes a long way at Hobby Lobby or At Home. You don't need a 12 top dining table with full place settings, just some knickknacks here and there on the counters, shelves, a shirt and dress or two hanging in the closets, an inflatable bed with comforter and maybe a chair, table and some books for the living room and you'll look great. Leave all the tags on and return it all after use if it's not damaged.
hopeandrealchange
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I am amazed when people put this kind of statement in writing. Use it for your purpose and then return it.
Has our society gotten to the point that this is acceptable behavior?
Satellite of Love
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mwp02ag said:

To clarify my recommendation to stage....$150 goes a long way at Hobby Lobby or At Home. You don't need a 12 top dining table with full place settings, just some knickknacks here and there on the counters, shelves, a shirt and dress or two hanging in the closets, an inflatable bed with comforter and maybe a chair, table and some books for the living room and you'll look great. Leave all the tags on and return it all after use if it's not damaged.
That is pretty sheety advice. Don't ever do this.
bad_teammate said on 2/10/21:
Just imagine how 1/6 would've played out if DC hadn't had such strict gun laws.

Two people starred his post as of the time of this signature. Those 3 people are allowed to vote in the US.
mwp02ag
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AG
Wow, I am sorry to have caused such a strong controversy. If the items are as new is this really an issue?
mwp02ag
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AG
Within 90 days of purchase, we will gladly exchange the merchandise, give store credit, or issue a refund based on your original method of payment. There will be a wait of 10 calendar days on check purchases, or merchandise credit can be issued.

Hobby Lobby return policy doesn't have an issue with it at all...
hopeandrealchange
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mwp02ag said:

Wow, I am sorry to have caused such a strong controversy. If the items are as new is this really an issue?


If you have to ask, I can't explain it.
mwp02ag
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AG
I guess not, I have a very open mind and I am certaily capable of accepting my shortcomings and working very hard to improve them. Perhaps instead of throwing out wicked slams and running away without comment to back up your points of view you might try opening that mindset up for some hope and change?

Question, would you throw away unused materials you purchased for a remodel?

I often by more than I need on my projects to account for waste or problems with my take off. After I am done with that particular type of material I will return that.
hopeandrealchange
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I think your comparisons are different. You went from return it all to returning partial.
In your first example you suggested a plan to buy items for your use with the intention of returning them after your need had been met.
This is not the way I conduct myself or my business. To each his own. I can't believe that any supplier would appreciate any customer using them in this manner. Jmho.
Good luck to you.
AnalogyAg
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mwp- that's stealing. plain and simple. but as someone pointed out, if you don't see or understand
that, you probably won't from someone telling you here.

there's often a large gap between moral and legal.
mwp02ag
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AG
Fair enough. I never thought it would be looked at it that way or I wouldn't have suggested it. I take the lumps for poor suggestion to return the items and suggest keeping the items for your next deal OP. Staging goes a long way and it'll be worth the $150.
hopeandrealchange
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mwp02ag said:

Fair enough. I never thought it would be looked at it that way or I wouldn't have suggested it. I take the lumps for poor suggestion to return the items and suggest keeping the items for your next deal OP. Staging goes a long way and it'll be worth the $150.


Well done Sir.
Baba Ganoush
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AG
You should always stage the house and plan for it in your rehab budget. Most buyers can't visualize a completed, furnished house. And I don't know the prices in San Antonio, but the people we use in Dallas can stage a house in that price point for $1,000 - $1,200.
WOC2007
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AG
We just sold a flip house at $150K not staged and had 9 offers in the first weekend. Spending a $1,000 on staging seems like a waste to me.
Rusty GCS
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AG
Depends on the house and the market

If you have a quirky set up in a market where houses are staying on the market for months you might wanna stage
Baba Ganoush
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AG
Congrats on the sale. Obviously, whether to use staging is up to your own preferences, but in my experience, staging typically draws a larger volume of potential buyers to the house and subsequently higher offers, that usually more than pays for itself.
WOC2007
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AG
Should have mentioned that we're selling in the San Antonio market like the OP. That price point has a flood of buyers in our market.
aggiebrad94
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AG
I chose not to stage this first one. House has been on the market 20 hours or so and there have been 10 showings scheduled already.
Corps_Ag12
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AG
I have a buddy who can virtually stage the house in photos for a fee. That way potential buyers see it online with furniture.

Not sure if he can use other people's photos or if he has to shoot his own though.
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Rusty GCS
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AG
It's not gouging. No business deal happens unless both parties think they're getting good value. There are other options if somebody doesn't want to pay what's asked for the house...which also has to appraise for the asking price.

Not sure what's unethical about buying low and selling high. That's just basic investments whether stocks, real estate, vehicles, or whatever.
mwp02ag
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AG
As an TREC inspector and an active investor myself I understand the difference between the lipstick on a pig and flips. Buying from a motivated seller, remodeling correctly using quality finishes and contractors and selling at a premium is a valuable service to all in the process.

Now, I see the lipstick on a pig stuff more often than not and it's easy to spot and it's usually a case of the "flipper" doing the work themselves.

Me, I love homes. I love inspecting homes. I love walking homes. I love remodeling homes. I love that I can step in and take an eyesore and make it beautiful home for a family. I love that I can buy a problem from someone who either needs the funds or doesn't know what to do with a property. I love real estate in general and I love that it's a path to wealth anyone can achieve. I love sharing what I've learned with others who are truly looking to grow and help others.

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