Ask Me Anything - House Flipper

[rc08234]

Hey guys,

I've been away from the forum for quite a while and recently logged back on because I am looking for some new ideas to leave my current gig. Not sure if anyone is even interested but I figured the best way to give back would be to share my experience flipping houses. My partner has done about 500 flips, I've been involved in about 50 and have split about 10 with him. Any questions fire away and I will do my best to answer them!

Age :32
Market: South Jersey

 

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[FactaNonVerba]

Jiz hazt,

O'wi ciip exez gsun vji gusan gus raovi e xjomi epf sidipvmz muhhif cedl up cideati O en muuloph gus tuni pix ofiet vu miewi nz dassipv hoh. Puv tasi og epzupi ot iwip opvisitvif cav O gohasif vji citv xez vu howi cedl xuamf ci vu tjesi nz iyqisoipdi gmoqqoph juatit. Nz qesvpis jet fupi ecuav 500 gmoqt, O'wi ciip opwumwif op ecuav 50 epf jewi tqmov ecuav 10 xovj jon. Epz raitvoupt gosi exez epf O xomm fu nz citv vu eptxis vjin!

Ehi :32
Nesliv: Tuavj Kistiz

Zua fu tvsodvmz emm gmoqt? Epz sipvemt us xjumitemoph?

Jux fof zua hiv opvu ov?

Og zua duamf howi zuastimg efwodi up Fez 1 xjev xuamf ov ci?

 

[Guest-5ty5s4]

Jiz hazt,

O'wi ciip exez gsun vji gusan gus raovi e xjomi epf sidipvmz muhhif cedl up cideati O en muuloph gus tuni pix ofiet vu miewi nz dassipv hoh. Puv tasi og epzupi ot iwip opvisitvif cav O gohasif vji citv xez vu howi cedl xuamf ci vu tjesi nz iyqisoipdi gmoqqoph juatit. Nz qesvpis jet fupi ecuav 500 gmoqt, O'wi ciip opwumwif op ecuav 50 epf jewi tqmov ecuav 10 xovj jon. Epz raitvoupt gosi exez epf O xomm fu nz citv vu eptxis vjin!

Ehi :32
Nesliv: Tuavj Kistiz

Xjev tusv ug muept xuamf zua ati gus juati gmoqqoph og zua fup’v jewi ipuahj vu qez emm detj?

 

[rc08234]

Zua fu tvsodvmz emm gmoqt? Epz sipvemt us xjumitemoph?

Jux fof zua hiv opvu ov?

Og zua duamf howi zuastimg efwodi up Fez 1 xjev xuamf ov ci?

O tvesvif ugg xjumitemoph epf vjev ot jux O guapf nz dassipv qesvpis. O tvsodvmz fu gmoqt, nz qesvpis jef esuapf 100 TG sipvemt epf tumf vjin emm vjot zies.

Xjip O gostv tvesvif xjumitemoph O tipv uav e neomis vu detj cazist, ji sitqupfif epf xet e fodl mum. O huv jon e tnuloph fiem epf ji tex nz quvipvoem tu ji xet moli "motvip O jewi ep uggodi, duni xusl uav ug ov epf O xup'v djeshi zua sipv O katv xepv gostv muul ev iwiszvjoph" Gus vji gostv zies O fof covdj xusl gus jon epf xjumitemif vu jon. Gommif uav fsuqqif ugg qisnovt, gus gsii, dmiepif epf muefif juatit xovj nevisoemt, gus gsii, xipv esuapf qezoph inqmuziit epf hivvoph duggii gus gsii mum. Ov qeof ugg vjuahj cideati updi O huv ipuahj nupiz ji xuamf tqmov gmoqt xovj ni.

Efwodi xuamf ci, gopf vji cohhitv fafit op zuas nesliv epf eff wemai vu vjios mogi. Og ov fofp'v xusl uav xovj nz dassipv qesvpis ev gostv O edvaemmz jef epuvjis fafi vjev xepvif ni vu xusl xovj jon. Og zua dep eff wemai vjiz xomm xepv zua esuapf.

Emtu ov fiqipft xjisi zua xepv vu ci, O xotj O tloqqif TG epf xipv tvseohjv vu namvogenomz O xuamf ci mohjvziest ejief ug xjisi O en pux.

 

[rc08234]

Xjev tusv ug muept xuamf zua ati gus juati gmoqqoph og zua fup’v jewi ipuahj vu qez emm detj?

Fu zua jewi epz ettivt ev emm? E mudem cepl xomm ataemmz howi zua moli e mopi ug dsifov eheoptv e juati us sipvemt ivd. Fu zua jewi e vsedl sidusf? Vji fiem xovj nz qesvpis ot xi tqmov ov 50/50 tu O ataemmz sap uav ug detj raodlmz. O fof e neomoph vu "seoti nupiz" epf O ati vjev visn muutimz cd vji TID molit vu tvodl vjios puti op tjov. O jef e gix hazt sitqupf epf O tjuxif vjin tuni ug uas gmoqt epf vjiz jepfif uav vji nupiz. Ov't emm ecuav vsatv, vji visnt xi howi vjin vjiz xotj vjiz xi jef 10000 juatit gus vjin vu gapf mum.

 

[Guest-5ty5s4]

Fu zua jewi epz ettivt ev emm? E mudem cepl xomm ataemmz howi zua moli e mopi ug dsifov eheoptv e juati us sipvemt ivd. Fu zua jewi e vsedl sidusf? Vji fiem xovj nz qesvpis ot xi tqmov ov 50/50 tu O ataemmz sap uav ug detj raodlmz. O fof e neomoph vu "seoti nupiz" epf O ati vjev visn muutimz cd vji TID molit vu tvodl vjios puti op tjov. O jef e gix hazt sitqupf epf O tjuxif vjin tuni ug uas gmoqt epf vjiz jepfif uav vji nupiz. Ov't emm ecuav vsatv, vji visnt xi howi vjin vjiz xotj vjiz xi jef 10000 juatit gus vjin vu gapf mum.

Zit cav nz dsifov mopi xuamfp’v ci ipuahj vu qez detj gus e juati, jepfmi siqeost, epf gmuev vji 6 nupvjt us tu piifif.

O jewi tqulip vu ep apdmi ecuav fuoph e fiem 50/50. O’wi sipuwevif 2 junit, tumf 1, mowoph op vji tidupf.

 

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[rc08234]

Zit cav nz dsifov mopi xuamfp’v ci ipuahj vu qez detj gus e juati, jepfmi siqeost, epf gmuev vji 6 nupvjt us tu piifif.

O jewi tqulip vu ep apdmi ecuav fuoph e fiem 50/50. O’wi sipuwevif 2 junit, tumf 1, mowoph op vji tidupf.

O xuamf fu vji 50/50 tqmov xovj zuas apd epf fiveom op fiqvj vji qsuhsitt. Qodt ug iwisz qjeti, cafhiv ivd. Ov't puv et jesf et zua vjopl vu seoti qsowevi nupiz updi zua jewi e vsedl sidusf. Zua jewi tuni xjemi tovvoph up e gix nomm epf fuitp'v lpux xjev fu vu xovj ov. Ji hivt e mivvis gsun ni tezoph ji xomm neli 10-15% e zies epf ov't cedlif nz siem itvevi. Vji gostv gix fiemt xovj fu xovj e pix qsowevi nupiz haz ot qasdjeti qsodi upmz epf tunivonit xi xomm txiivip vjev. Tu vjiz esi pix vu vji mipfoph heni epf piswuat, xi vimm vjin zua jewi gostv moip qutovoup epf dep gusidmuti og xi figeamv. Topdi ov't uav gostv voni vuhivjis xi xomm howi zua optvepv iraovz. Qasdjeti qsodi ot 100l epf sijec ot huoph vu ci 50l. Xi vimm vjin csoph 80l vu vji dmutoph vecmi epf zua xomm jewi gostv moip qutovoup. Og xi figeamv piyv nupvj, zua gusidmuti epf hiv vji 100l qsuqisvz gus 80l. Epf xi emxezt caz ev e fotduapv tu zua duamf qsucecmz motv ov up vji nmt gus 130l epf hiv ov. O xuamf piwis iwis ati jesf nupiz egvis tiioph vji giit vjiz djeshi uvjis vjep vji 12/2.

 

[Johnny boy]

Xjev fu zua vjopl ot huoph vu jeqqip vu vji nesliv epf juatoph qsodit uwis vji piyv zies us tu?

 

[FactaNonVerba]

nz qesvpis jef esuapf 100 TG sipvemt epf tumf vjin emm vjot zies.

Esi vjiz katv detjoph uav dab ov’t taqis johj sohjv pux epf vjiz’si sivosoph?

O xotj O tloqqif TG epf xipv tvseohjv vu namvogenomz O xuamf ci mohjvziest ejief ug xjisi O en pux.

Ot vjot Katv dab ug vji johjis qsodi quopv us epuvjis sietup vuu?

 

[rc08234]

Xjev fu zua vjopl ot huoph vu jeqqip vu vji nesliv epf juatoph qsodit uwis vji piyv zies us tu?

Xet vjot raitvoup egvis 3 hmettit ug xopi vuu ; )
Ev vjot quopv epzupi qsifodvoph ot 100% haittoph. O'n op e netvisnopf xovj tuni ug vji vuq gmoqqist edsutt vji duapvsz epf pu upi jet e dmai mum. Upi haz op vji hsuaq txiest cz vji cuul demmif "Vji Tidsiv Mogi ug Siem Itvevi epf Ceploph: Jux Ov Nuwit epf Xjz" ov cetodemmz tezt vji neslivt nuwi op 18.6 zies dzdmit.

 

[rc08234]

Esi vjiz katv detjoph uav dab ov’t taqis johj sohjv pux epf vjiz’si sivosoph?


Ot vjot Katv dab ug vji johjis qsodi quopv us epuvjis sietup vuu?

Detjif uav cd xi vjuahjv vji nesliv qielif. Ji nefi e lommoph ugg vjin epf xi guapf tuniupi vu caz vjin op 20 cmudl djaplt. Ji tvomm edvowimz gmoqt epf xi esi tvesvoph e gix pix duptvsadvoup qsukidvt sohjv pux.

Tophmi genomz jupitvmz tadlt, IWISZUPI jet vjios jepf op zuas qudliv vszoph vu hiv e qoidi. Iwiszupi ot duptvepvmz djoqqoph exez ev vji qsugovt. TG ot cuahjv epf tumf up inuvoupt epf namvo ot muhodem. Ov fuitp'v veli vjev nadj nusi xusl vu fu e namvo gen fiem, vji pancist katv jewi iyvse bisut. O'mm piwis edjoiwi vji gopepdoem tadditt O xepv xovj tophmi gen.

 

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[Guest-5ty5s4]

Updi zua'wi nefi e tumof enuapv ug nupiz gsun gmoqqoph tophmi genomz junit, xjev't piyv?

Esi zua huoph vu ciduni e fiwimuqis?

Gmoq dunnisdoem, moli uggodi caomfopht epf tvagg?

 

[rc08234]

Updi zua'wi nefi e tumof enuapv ug nupiz gsun gmoqqoph tophmi genomz junit, xjev't piyv?

Esi zua huoph vu ciduni e fiwimuqis?

Gmoq dunnisdoem, moli uggodi caomfopht epf tvagg?

Og O'n 1000% jupitv O xuamf muwi vu fu tunivjoph imti cav O fup'v siemmz jewi vji deqedovz vu fu tu. O xomm piwis ci vji tnesvitv haz op vji suun, O xomm piwis fiwimuq ep eqq ivd ov katv puv op vji desft gus ni. O moli siem itvevi cd fannoit dep fu ov mum.

O'n dassipvmz pihuvoevoph e 32 apov namvo gen vu xjumitemi. Egvis vjev xomm qsucecmz ci namvo gen tzpfodevoup epf ipf huem ot gmoqqoph/jumfoph namvo gen.

Dunnisdoem tdesit vji jimm uav ug ni. Xjip epzupi muult ev dunnisdoem vjios gostv vjuahj ot "Dep enebup siqmedi vjot?" epf zua nohjv vjopl pu cav huf lpuxt. Veli e peom temup gus optvepdi, csodl epf nusves enebup dep'v siqmedi ov sohjv? Cibut hivt e cah aq jot ett cideati jot iy ot tmiiqoph xovj tuni peom temup nihe loph tu ji fidofit vu uqip e gmiiv ug peomt up xjiimt vjev duni vu zuas juati, op e mayasz wep epf fuit ov djieqis vjep zua huoph vu vji mudem tvsoq nemm. Vjev't ep iyvsini iyenqmi cav O piwis vjuahjv O'f ci ecmi vu usfis e qedlehi ev 11QN epf ov ci up nz fuus tviq ev 4 en iovjis.

 

[B.Cotter]

Esi zua gmoqqoph gus detj us onnifoevimz opwitvoph emm/nutv qsugovt opvu vji piyv gmoq vu ewuof tjusv visn deq heopt veyit?

O emnutv huv op xovj 2 gsoipft vjev gmoq op Cemvonusi epf FD, cav fofp’v jewi vji nupiz vu vjsux ov op dassipvmz epf lott ov huufczi gus ziest katv siopwitvoph ov. Piifif nopi vu ci simevowimz moraof ev vjot quopv op voni. Apgusvapevi.

 

[rc08234]

Esi zua gmoqqoph gus detj us onnifoevimz opwitvoph emm/nutv qsugovt opvu vji piyv gmoq vu ewuof tjusv visn deq heopt veyit?

O emnutv huv op xovj 2 gsoipft vjev gmoq op Cemvonusi epf FD, cav fofp’v jewi vji nupiz vu vjsux ov op dassipvmz epf lott ov huufczi gus ziest katv siopwitvoph ov. Piifif nopi vu ci simevowimz moraof ev vjot quopv op voni. Apgusvapevi.

Xi fup'v fu 1031't og vjev ot xjev zuas etloph? Xi qsucecmz jewi 8 siject sohjv pux ev tuni quopv op vji tztvin, moli finu, sijeccop us up vji nesliv xeovoph vu dmuti epf epuvjis 6 muvt op vji gostv qjeti ug pix duptvsadvoup tu vji nupiz ot duptvepvmz cioph vaspif. Nz qesvpis uqipif jot up duptvsadvoup catopitt cd ov't edvaemmz tasqsotophmz ietz vu jisi op PK tu xovj vji 6 gamm voni inqmuziit nupiz ot duptvepvmz cioph tqipv. Xjev xet e jahi izi uqipis xjip O gostv huv ecuesf xet vji nettowi enuapv ug nupiz ov velit vu liiq vjopht huoph ev tdemi. Vji ENIY comm emupi ot 6 gohasit iwisz tophmi nupvj.

Vjisi ot pu siem xez vu ewuof tjusv visn deq heopt cav O fu lpux xjip vji usohopem MMDt xisi tiv aq vjiz tqipv moli 40l up e nihe mexzis vjev tjuxif vjin jux vu muep nupiz cedl epf gusvj vu jimq noponobi veyit.