flipper Posted April 4, 2007 Share Posted April 4, 2007 http://www.xanga.com/houseonwaycrossflipper Link to comment Share on other sites More sharing options...
jm1fd Posted April 4, 2007 Share Posted April 4, 2007 That L shaped kitchen with the big opening is kinda neat. Gonna keep that configuration? Link to comment Share on other sites More sharing options...
flipper Posted April 4, 2007 Author Share Posted April 4, 2007 That L shaped kitchen with the big opening is kinda neat. Gonna keep that configuration?Pretty much, we'll try and make it more into an "island". But the L will stay.flipper Link to comment Share on other sites More sharing options...
TAK Posted April 6, 2007 Share Posted April 6, 2007 i need an education... and some time away from my day job... Link to comment Share on other sites More sharing options...
flipper Posted May 4, 2007 Author Share Posted May 4, 2007 Ok Ok... I updated finally.We also got our next project under contract last week. We'll close and begin on it at the end of this month.flipperWaycross Blog Updated Link to comment Share on other sites More sharing options...
editor Posted May 4, 2007 Share Posted May 4, 2007 It would be nice to see more exterior photos. Link to comment Share on other sites More sharing options...
flipper Posted May 5, 2007 Author Share Posted May 5, 2007 It would be nice to see more exterior photos.okflipper Link to comment Share on other sites More sharing options...
TAK Posted May 5, 2007 Share Posted May 5, 2007 Ok Ok... I updated finally.We also got our next project under contract last week. We'll close and begin on it at the end of this month.flipperWaycross Blog UpdatedWhat street is the next project on? :-) Link to comment Share on other sites More sharing options...
flipper Posted May 5, 2007 Author Share Posted May 5, 2007 What street is the next project on? :-) I'm not telling till I register the blog site flipper Link to comment Share on other sites More sharing options...
TAK Posted May 7, 2007 Share Posted May 7, 2007 OK, OK....So when does the TV show start?"House on...." starring Flipper. Link to comment Share on other sites More sharing options...
mkultra25 Posted May 7, 2007 Share Posted May 7, 2007 OK, OK....So when does the TV show start? "House on...." starring Flipper. The TV show was just released on DVD a couple of weeks ago. Link to comment Share on other sites More sharing options...
westguy76 Posted May 7, 2007 Share Posted May 7, 2007 The TV show was just released on DVD a couple of weeks ago. haha nice one Link to comment Share on other sites More sharing options...
flipper Posted May 7, 2007 Author Share Posted May 7, 2007 OK, OK....So when does the TV show start? "House on...." starring Flipper. Funny you say that. My wife and I were almost on an episode of "property ladder". The producer flew out from Cali and interviewed us in 04. I got the impression that they thought we knew what we were doing too much to be on the show. One of my friends said something to the effect of "he's cool under pressure" during his interview. I knew it wasn't going to happen after that I'm glad it didn't work out though. Without further delay... New Blog "houseontonawanda" flipper Link to comment Share on other sites More sharing options...
TexasArchitect Posted May 15, 2007 Share Posted May 15, 2007 Without further delay...New Blog "houseontonawanda" flipper WOW, you rock!! i've never seen anyone post houses they flipped!! it's so cool cuz it gives hope to others did you pay the asking 215k? if not how much did you get it down to??? Link to comment Share on other sites More sharing options...
travelguy_73 Posted May 15, 2007 Share Posted May 15, 2007 Good luck! The nice thing about ranchers is that you can do just about anything to them style-wise...since they are relatively simple in layout and trim, you can paint, add moldings, slate/tile, refinish existing details, etc., and not spend a ton of money. Hopefully the guts of the home prove to be savageable.I'm sure the neighbors are very interested in your progress as well! Link to comment Share on other sites More sharing options...
TAK Posted May 15, 2007 Share Posted May 15, 2007 flipper is not f'n around!!!flipper, can you tell us a little about your background? how did you get started flipping? did you have past construction experience, etc?ever think about subbing yourself out as a GC? Link to comment Share on other sites More sharing options...
nativehou Posted May 15, 2007 Share Posted May 15, 2007 The house on Tonawanda is a beauty. Lots of neat features, and it doesn't appear to be in that bad of a shape. Link to comment Share on other sites More sharing options...
youngflipper Posted May 15, 2007 Share Posted May 15, 2007 I was actually thinking of asking the same questions TAK did. I'm fairly young and new to this so spill some details bro or anyone who has house flipping expertise. Thankzs Link to comment Share on other sites More sharing options...
flipper Posted May 15, 2007 Author Share Posted May 15, 2007 flipper is not f'n around!!!flipper, can you tell us a little about your background? how did you get started flipping? did you have past construction experience, etc? ever think about subbing yourself out as a GC? I graduated college in 2000 and went to work selling insurance for Liberty Mutual. I did that for a couple years and hated it. I started reading a couple books on real estate and visiting some online resources and was pretty fired up. I quit that job to give real estate a try full time. I didn't really set out to rehab houses right off the bat. I was going to focus on finding houses and assigning contracts to other investors. It was really tough to get started but I eventually found a house I was able to get under contract and sell for $4,000 more. Then I hooked up with my uncle who is a respected custom builder in the inner loop. We found a house to rehab in Maplewood South and partnered up. It was a disaster and we didn't make anything on it, but I learned a ton. I kinda shadowed my uncle for a while, stopping by his houses all the time and learning about construction by looking around and asking his superintendant questions. Then we found another house, this one in Houston Country Club Place. We actually planned to live in the house, so it wasn't really a risky rehab. We fixed it up to our taste, using lots of my uncles subcontractors. But we decided we didn't want to live there after we finished it so we put it up for sale and made good money on it. Over the next few years we found some houses to wholesale and some to rehab. It hasn't always been easy not knowing when the next time you are going to make money though. We are at the point now where my wife works with me full time and we do a lot of marketing and have established a little niche in our area where a few realtors know who we are and bring us deals occassionally. So to answer your question, I had ZERO construction experience and Little to Zero real estate knowledge when I got started (I didn't know what the word "escrow" meant). I've really just gained experience over the last 5 years. As far as working as a GC.... We get approached a few times a year about this. The only house we've done like this was for some friends who bought a house and we fixed it up before they moved into it. We did it for a flat fee and it worked well. I would probably on do this kind of arrangement with someone I knew, and was NOT going to living in the house. We are probably losing money by not doing these deals, but honestly I don't want the headaches flipper Link to comment Share on other sites More sharing options...
flipper Posted May 15, 2007 Author Share Posted May 15, 2007 I'm fairly young and new to this so spill some details bro or anyone who has house flipping expertise. Thankzs I'm only 28! Geez, makin me feel like an old man! Link to comment Share on other sites More sharing options...
youngflipper Posted May 15, 2007 Share Posted May 15, 2007 I'm only 28! Geez, makin me feel like an old man! Maybe I meant young buisness wise. Ill be 22 here in a few weeks your not that far off at all old man..lol Link to comment Share on other sites More sharing options...
TexasArchitect Posted May 16, 2007 Share Posted May 16, 2007 I was going to focus on finding houses and assigning contracts to other investors. It was really tough to get started but I eventually found a house I was able to get under contract and sell for $4,000 more. So to answer your question, I had ZERO construction experience and Little to Zero real estate knowledge when I got started (I didn't know what the word "escrow" meant). I've really just gained experience over the last 5 years.your first comment, "get a house under contract" what does that mean?i too am at the same point you once were in not knowing what escrow means...well, i still don't fully understand, but in flipping all these homes, when you go to the bank is there a specific type of loan you go for in order to do this?i'm assuming once u make the purchase you pay off the loan and keep the profit in pocket?? Link to comment Share on other sites More sharing options...
TheNiche Posted May 16, 2007 Share Posted May 16, 2007 your first comment, "get a house under contract" what does that mean?i too am at the same point you once were in not knowing what escrow means...well, i still don't fully understand, but in flipping all these homes, when you go to the bank is there a specific type of loan you go for in order to do this?i'm assuming once u make the purchase you pay off the loan and keep the profit in pocket??http://www.trec.state.tx.us/formslawscontr...s-contracts.aspSee Form 20-7 for the standard contract for a used single-family home. When all prospective buyers and sellers sign off on it, a home is considered to be "under contract". I suggest you read over it and highlight parts that you do not understand. Then ask questions.If you can understand 20-7 from the very first to the very last page, it'll be very helpful in understanding the process. Also read through 38-1, 39-6, 40-2, OP-H, and OP-K. These are pretty common to have to encounter. Link to comment Share on other sites More sharing options...
TexasArchitect Posted May 16, 2007 Share Posted May 16, 2007 http://www.trec.state.tx.us/formslawscontr...s-contracts.aspSee Form 20-7 for the standard contract for a used single-family home. When all prospective buyers and sellers sign off on it, a home is considered to be "under contract". I suggest you read over it and highlight parts that you do not understand. Then ask questions. If you can understand 20-7 from the very first to the very last page, it'll be very helpful in understanding the process. Also read through 38-1, 39-6, 40-2, OP-H, and OP-K. These are pretty common to have to encounter. dude....you ARE THE MAN!!! totally helpful and resourceful! i'm starting my IDP program and boy do i wish i could have u as my mentor Link to comment Share on other sites More sharing options...
flipper Posted May 18, 2007 Author Share Posted May 18, 2007 Sun Valley Houseflipper Link to comment Share on other sites More sharing options...
jm1fd Posted May 18, 2007 Share Posted May 18, 2007 Sun Valley HouseflipperFrom the pix it looks like there's a guest house and a main house.That's a neat kitchen....except for those awful yellow doors. Link to comment Share on other sites More sharing options...
flipper Posted May 18, 2007 Author Share Posted May 18, 2007 From the pix it looks like there's a guest house and a main house.That's a neat kitchen....except for those awful yellow doors.That's correct. It's awesome. It's directly behind the master bedroom, but not "connected" to the house.flipper Link to comment Share on other sites More sharing options...
Dan the Man Posted May 18, 2007 Share Posted May 18, 2007 http://www.trec.state.tx.us/formslawscontr...s-contracts.aspSee Form 20-7 for the standard contract for a used single-family home. When all prospective buyers and sellers sign off on it, a home is considered to be "under contract". I suggest you read over it and highlight parts that you do not understand. Then ask questions.If you can understand 20-7 from the very first to the very last page, it'll be very helpful in understanding the process. Also read through 38-1, 39-6, 40-2, OP-H, and OP-K. These are pretty common to have to encounter.Perhaps this is a stupid question, but I'll ask it anyway - Assuming I have an understanding of all of the items in the contract, and I have filled out the form to suit my preferences, can I "cheat the system" by directly submitting it to the seller, or their agent? Seems like a good way to save 3% on the sale price through the elimination of the Buyer's Agent... Link to comment Share on other sites More sharing options...
mpbro Posted May 18, 2007 Share Posted May 18, 2007 Sun Valley House Heh-heh, are you planning to paint the paneling? Link to comment Share on other sites More sharing options...
flipper Posted May 18, 2007 Author Share Posted May 18, 2007 Heh-heh, are you planning to paint the paneling? No way! There is significant architectural meaning to those 4x8 sheets of 1/4 inch panelling flipper Link to comment Share on other sites More sharing options...
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