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Flips, Real Estate, & Landscaping... You gotta Johnny Hustle baby!!

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wyattnorton

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I am going to post a quick little update on what I've been hustling around doing.

Real Estate: Bought 2 flip houses, both for a total of $30k. Been busting a$$ trying to get some people out there to start working on the place. Where these two houses are the people are either jacked busy for 2-3 months out or just never show up. So finally got a quality guy doing work on one house and hurrying to get it done before economy completely tanks.

Landscaping: Partnered with a company in my area that has been doing it for 30+ years. I handle client acquisitions and project management while I learn from the owner on how he runs his business. I added 5 projects this season for him totaling approximately $75,000 in jobs.

Flip Cars: I flipped two trucks making $5,000 profit on one and $2,500 profit on the other. Took some time to get ball joints, rockers, and corners on but F*ck it was worth it. These babies came out clean and now I have four more cars coming. A Tahoe, chevy silverado, ford escape, and a gmc sierra.

And I am still finishing up my last two online classes to graduate from college (I'm 21 btw)

Graduated a year early because I realize it was not what I wanted to do so I busted a$$ and took 2-3 20 credit hour semesters and a lot of summer classes.


Will keep you updated as much as I can
 
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MJ DeMarco

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Bought 2 flip houses, both for a total of $30k.

Where they hell you live? Mumbai India?

Congrats on collecting some big wins early in your life.
 

wyattnorton

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Where they hell you live? Mumbai India?

Congrats on collecting some big wins early in your life.
HA! No thanks man!

The properties were foreclosures and they're in small, somewhat country towns in my state. (Populations are around 500-1000 max!)

I appreciate that, they seem so small to me, but I guess that's because I see there is always bigger and better avenues!

Thanks MJ for all the wisdom you gave me and others through your books
 
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thechosen1

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What condition are these in - total gut jobs? Just curious. Nice job so far!!
 

wyattnorton

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What condition are these in - total gut jobs? Just curious. Nice job so far!!
I will attach pictures at some point. One of them is a total gut job. The last people who bought it thought they were flippers and decided to tear the whole placed apart, so that will be a $30k-$40k nut to spend.

The other is much more intact, just got the garage roof reshingled and siding on house/garage redone. Moving along nicely and I am trying to finish it up before winter. Both of them...532BD926-FE34-4E94-9A33-7833651045EC.jpeg
 

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wyattnorton

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Learned today to be prepared for anything, but have zero expectations for customers/clients, both bad and good.

When we sign contracts, we have a 30 day from sign date to start the landscape project. Yes people love to text “When are you coming?” about a week in, i just tell them the truth.

Today I had a lady that we signed 2 weeks ago texted me that she has a problem with our timeline and to give her a call. My partner and I instantly went to the negative that she found someone else for cheaper and shittier quality, thus, wanting her deposit back.

However, when we called her it turns out that she actually said it was okay if we came later because they are doing construction on her road and she didn’t want to hold up any other projects if it takes us more time to access her property.

Of course there are the bad apples, plenty… but it’s moments like these that remind me to just go with the flow and not rush into judging the situation before experiencing it.
 
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Yussef

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I will attach pictures at some point. One of them is a total gut job. The last people who bought it thought they were flippers and decided to tear the whole placed apart, so that will be a $30k-$40k nut to spend.

The other is much more intact, just got the garage roof reshingled and siding on house/garage redone. Moving along nicely and I am trying to finish it up before winter. Both of them...View attachment 44020
Good Job. Just don't overwhelm yourself with a ton of other niches while you are learning and growing your business. I promise you will miss a ton more opportunity.
 

Aaron_S

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I will attach pictures at some point. One of them is a total gut job. The last people who bought it thought they were flippers and decided to tear the whole placed apart, so that will be a $30k-$40k nut to spend.

The other is much more intact, just got the garage roof reshingled and siding on house/garage redone. Moving along nicely and I am trying to finish it up before winter. Both of them...

I mean it looks like they tore the place apart because everything was sagging/falling in from improper support and rot. It looks like they remedied all of that and put in some new windows. There is probably more than you paid for the place in materials and labor just there.

What is the median sale price for a house of that size in that 'town'?
 

wyattnorton

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I mean it looks like they tore the place apart because everything was sagging/falling in from improper support and rot. It looks like they remedied all of that and put in some new windows. There is probably more than you paid for the place in materials and labor just there.

What is the median sale price for a house of that size in that 'town'?
The one property that is better condition is a 3bed/1bath. Those are selling for $110k-$125k, but I assume I'll get around $90k-$100k. Built in 1945 most are 70s houses, but mine is solid and has good infrastructure in terms of plumbing and electricity.

The torn down property will probably be a 3/1 or 3/2 if I can fit it. Those are selling for $75k-$135k, depending on year built. Mine was built in the 70's, so once I turn it around it will probably go for $70k-$90k
 
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Aaron_S

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The one property that is better condition is a 3bed/1bath. Those are selling for $110k-$125k, but I assume I'll get around $90k-$100k. Built in 1945 most are 70s houses, but mine is solid and has good infrastructure in terms of plumbing and electricity.

The torn down property will probably be a 3/1 or 3/2 if I can fit it. Those are selling for $75k-$135k, depending on year built. Mine was built in the 70's, so once I turn it around it will probably go for $70k-$90k

That's about the same as small towns in my state. The first one sounds like a rare find and a nice early win.

We lived in the last house that we flipped for a while then moved and rented it out for a couple of years. We used a popular realtor, and she had a couple of options for guys that were pretty quick and cheap to come in and do the minor things we were missing when we were ready to sell. You might try talking to a realtor with a good track record (assuming that you are going that route) if you are having trouble finding a handyman for small stuff.
 

wyattnorton

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That's about the same as small towns in my state. The first one sounds like a rare find and a nice early win.

We lived in the last house that we flipped for a while then moved and rented it out for a couple of years. We used a popular realtor, and she had a couple of options for guys that were pretty quick and cheap to come in and do the minor things we were missing when we were ready to sell. You might try talking to a realtor with a good track record (assuming that you are going that route) if you are having trouble finding a handyman for small stuff.
Luckily I found a decent one for the nicer house. But that took about 30-50 calls and quotes to find the guy… Angie’s list haha.

Second one has been a nightmare to find help. Have a guy coming on Monday morning to start on the siding.

I’ll definitely try the realtor route. I don’t have one I work with in my state nor in the area. The realtor I bought the beat down one from was very shady, took strategic pics and didn’t show what shape the roof was in at all. However, we can make it work.

Have you continued to invest in real estate??
 

wyattnorton

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Just signed up another client for an $8k job. Simple gazebo and deck with plants beds, plants, and some outdoor lighting.

Probably profit, $2k ( I get half of the profits when I find the client)
 
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Aaron_S

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Luckily I found a decent one for the nicer house. But that took about 30-50 calls and quotes to find the guy… Angie’s list haha.

Second one has been a nightmare to find help. Have a guy coming on Monday morning to start on the siding.

I’ll definitely try the realtor route. I don’t have one I work with in my state nor in the area. The realtor I bought the beat down one from was very shady, took strategic pics and didn’t show what shape the roof was in at all. However, we can make it work.

Have you continued to invest in real estate??
Add Home Advisor to Angi for my most painful contractor engagement. (It was for about $30k of commercial electrical work. The guy came highly recommended and referenced, but I suspect now that he had never done a project of that scale on his own before. The work was ok it just took for ever and I ended up finishing the last circuit myself and had to clean up some of the burial points.)

We do invest some what but just here and there. More like a hobby. I think if we stayed in one area and built a network of service people we would do it more.

Right now the only thing we have that is a project is a house about like your second in a small city about 3 hours from my home. I have had only had one GC actually show up and 3 weeks later he hasn't sent a quote. I have a family friend that is a GC in that area but he is overbooked the next few months. I'm guessing that project will drag on through the winter when things slow down for everybody. I also might end up just doing some of the work and just contracting out the various trades pieces.

I'm just saying you aren't alone. It's just hard to get someone on a big indoor remodel project this time of year.

It sounds like you are really killing it at building some skills and a war chest to invest in your future ventures. I wish I had your drive and direction at that age.
 

wyattnorton

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Add Home Advisor to Angi for my most painful contractor engagement. (It was for about $30k of commercial electrical work. The guy came highly recommended and referenced, but I suspect now that he had never done a project of that scale on his own before. The work was ok it just took for ever and I ended up finishing the last circuit myself and had to clean up some of the burial points.)

We do invest some what but just here and there. More like a hobby. I think if we stayed in one area and built a network of service people we would do it more.

Right now the only thing we have that is a project is a house about like your second in a small city about 3 hours from my home. I have had only had one GC actually show up and 3 weeks later he hasn't sent a quote. I have a family friend that is a GC in that area but he is overbooked the next few months. I'm guessing that project will drag on through the winter when things slow down for everybody. I also might end up just doing some of the work and just contracting out the various trades pieces.

I'm just saying you aren't alone. It's just hard to get someone on a big indoor remodel project this time of year.

It sounds like you are really killing it at building some skills and a war chest to invest in your future ventures. I wish I had your drive and direction at that age.
I appreciate that! It took me 2-3 years to really step into doing all this, but it was worth it 100%

The thing too is the economy is too good and people are spending money like crazy. Where my properties are, the median incomes is around $40k-$70k, and people are now able to spend money because of gov. checks and other aid. However, once the economy tanks most of the contractors will not have work... so stay in there and hopefully next Spring the contractors get off their butts and can finish your investment.
 
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wyattnorton

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Jan 15, 2019
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One of the clients I have for a smaller landscaping job ($10k) said their dad passed away and their trying to sell the house.

It is a 3bed/1 bath (999sf) ranch with a basement. Built in the 60s, full of junk but a lot of stuff I can sell off (tools, lawn mowers, etc.) The property appraised at $138,500.

There is a parcel of land behind it that is .28 acres. Has a different zoning, but it may be useable and can sell it separately. It was appraised at $76,000.

My two offers I am going to make to the people:

1) $90k in cash for the house, quick close, 1 inspection or none (we'll see what I'm thinking)
2) if they don't take that offer, I will let the not pay the rest of the $5k for their project and I pay them another $5k to have a month to clean the place out

Number 2 I can probably get around $30k-$40k from all the stuff in the house and the detached 2.5 car garage.
 

wyattnorton

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Jan 15, 2019
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Tough clients in the past week…

About this time of year (2-3 weeks before fourth of July), clients start getting antsy and love to ask when we will show up for their landscape projects.

Our contract stipulates 30 days plus rain and heat days from signing…

Had a lady call us twice saying she is “nervous” because we haven’t shown up yet… It’s only been 2 weeks from signing.

Of course people love to try and rush us to get their projects done but they couldn’t move faster to sign up before the end of May
 
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