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Oh yeah, I forgot to mention. Flipper now has an active license with TREC :) Muhahahah

flipper

hey flipper, can u give more specifics on where u went to get this licence?

i know there are several places like community colleges and what not, but i noticed there are places that are like trade schools that also offer classes to get licensed. would you recommend the place you attended?

and congrats on the flip!!

Edited by TexasArchitect
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hey flipper, can u give more specifics on where u went to get this licence?

i know there are several places like community colleges and what not, but i noticed there are places that are like trade schools that also offer classes to get licensed. would you recommend the place you attended?

and congrats on the flip!!

I actually did the whole process on the interweb. The only thing you have to do in person is take the final test!

http://www.celi-edu.com/

flipper

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Buyer backed out! We wouldn't agree to a HUGE repair allowance for them to rewire the whole house with romex (some plugs are still 2 prong), and replace all galvanized plumbing with copper.

Another offer coming in allegedly...

flipper

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Buyer backed out! We wouldn't agree to a HUGE repair allowance for them to rewire the whole house with romex (some plugs are still 2 prong), and replace all galvanized plumbing with copper.

Another offer coming in allegedly...

flipper

Can't say I blame them. Grounded receptacles are considered a big deal by some. Why didn't you just rewire the house when you had all the drywall ripped out?

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Can't say I blame them. Grounded receptacles are considered a big deal by some. Why didn't you just rewire the house when you had all the drywall ripped out?

I had to get mine rewired or the insurance company wouldn't insure me.

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Can't say I blame them. Grounded receptacles are considered a big deal by some. Why didn't you just rewire the house when you had all the drywall ripped out?

What is the point of a 3 prong grounded outlet when 90% of things you use have 2 prong plugs?

Things that have grounded plugs:

Microwaves

Refridgerators

Computers

Computer Monitors

TV's

Stand Mixers

Power Tools

What am I missing?

We always put new wire in the obvious places for the TV and we always rewire the bathrooms and kitchen.

We also bring all open walls up to code, but we don't open walls we don't have to and we don't rewire entire houses unless there is a problem.

We do rewire houses with Knob and Tube though.

flipper

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What is the point of a 3 prong grounded outlet when 90% of things you use have 2 prong plugs?

Things that have grounded plugs:

Microwaves

Refridgerators

Computers

Computer Monitors

TV's

Stand Mixers

Power Tools

What am I missing?

We always put new wire in the obvious places for the TV and we always rewire the bathrooms and kitchen.

We also bring all open walls up to code, but we don't open walls we don't have to and we don't rewire entire houses unless there is a problem.

We do rewire houses with Knob and Tube though.

flipper

Actually, the things you listed comprise about 90% of the things I plug into my sockets. The only things I use with 2 prongs are lamps and an alarm clock.

You're the expert, but the electrical system is one of the major systems in a home. If I walk into a house advertised as "completely remodeled" and see 2 prong outlets, I start wondering what else was not upgraded. I realize that most home buyers only look at cosmetics, but in a 1700 foot house, how much extra would it take to bring ALL electrical outlets up to 1978 standards? It seems like it would have been smarter to just rip out those outlets if you are not upgrading them, as leaving them shows that the electrical system is not upgraded.

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Red, I believe Flipper is saying that he actually changes out the wiring where major NEW appliances would traditionally go, and leave the 2 prongs were lamps should go. If I had the sheetrock all pulled out already though, I would have most likely spent the $3500 for the rewire if I am trying to flip quarter of a million dollar homes.

Edited by TJones
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I know what he is saying, TJ. You can see in his pictures that he installed a lot of new wiring. My question is, why not do what you are suggesting, which is spring for the extra few hundred bucks to replace the rest of the wiring. It is not like 2 prong plugs are recent technology. 3 prong has been the norm for decades. If you see 2 prong plugs, you KNOW it is old. It just seems to me that leaving them is a big risk to reslae, as evidenced by the buyer who backed out because of it.

NOTE: I am not saying 2 prong receptacles are unsafe. They are just fine for lamps, clocks, irons and other 2 prong appliances. It is the perception (or reality) that the house is not fully rewired that gives a potential buyer pause, or at the very least, negotiating room.

Edited by RedScare
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I couldn't see the pics on his redo for some reason, work filters most likely, so I didn't see the wire that he actually replaced. I was just going by what flipper wrote. I agree that leaving the "old" stuff may scare off potential buyers, but I am not about to change out all the plumbing when there isn't anything wrong with what's in place, water pipes are a different story, if it ain't broke, don't fix it. I will take a possible water leak over a possible fire any day of the week though.

Edited by TJones
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Buyer backed out! We wouldn't agree to a HUGE repair allowance for them to rewire the whole house with romex (some plugs are still 2 prong), and replace all galvanized plumbing with copper.

Another offer coming in allegedly...

Can't say I blame them either. Premium price = premium product.

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It's not a big deal to me really. We have another offer coming in today allegedly.

The only silly thing is that the house had galvanized plumbing in the attic and 2 prong outlets when they made the offer. If they wanted a completely rewired and replumbed house, go make an offer on one of those and don't tie up my house for 12 days.

If you want a house with all romex and all copper piping in 77035 you better contact a builder.

flipper

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Flipper - do you know of any places that sell 2 prong outlets cheap? The only place I have found them is home depot for $2 per outlet.

I'm pretty sure that's where my electrician gets 'em.

flipper

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Flipper - do you know of any places that sell 2 prong outlets cheap? The only place I have found them is home depot for $2 per outlet.

you can use 3 conductor outlets and code, i believe, says you caulk in the ground. to be honest, i know people that do the receptacle replacement and don't caulk the ground just so you can plug in things with 3 prongs without having to use one of those adaptors.

Edited by musicman
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you can use 3 conductor outlets and code, i believe, says you caulk in the ground. to be honest, i know people that do the receptacle replacement and don't caulk the ground just so you can plug in things with 3 prongs without having to use one of those adaptors.

I've never heard of such a thing.

flipper

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I've never heard of such a thing.

flipper

i've kind of been toying with getting a license so have done quite a bit of reading. to be honest, i think replacing them with 2 prongs probably would be the least work. also with the gfci method they mention, you could probably just replace the cb with a gfci one and then put in the cheaper 3 prong outlets.

Older homes frequently have two-prong receptacles instead

of the more modern three. These receptacles have no safety

ground, and the cabling usually has no ground wire. Neither

the NEC or CEC permits installing new 2 prong receptacles anymore.

There are several different approaches to solving this:

1) If the wiring is done through conduit or BX, and the

conduit is continuous back to the panel, you can connect

the third prong of a new receptacle to the receptacle

box. NEC mainly - CEC frowns on this practice.

2) If there is a metallic cold water pipe going nearby, and

it's electrically continuous to the main house ground

point, you can run a conductor to it from the third

prong. You MUST NOT assume that the pipe is continuous,

unless you can visually check the entire length and/or

test it. Testing grounds is tricky - see "Testing

Grounds" section.

3) Run a ground conductor back to the main panel.

4) Easiest: install a GFCI receptacle. The ground lug

should not be connected to anything, but the GFCI

protection itself will serve instead. The GFCI

will also protect downstream (possibly also two prong

outlets). If you do this to protect downstream outlets,

the grounds must not be connected together. Since it

wouldn't be connected to a real ground, a wiring fault

could energize the cases of 3 prong devices connected

to other outlets. Be sure, though, that there aren't

indirect ground plug connections, such as via the sheath

on BX cable.

The CEC permits you to replace a two prong receptacle with a three

prong if you fill the U ground with a non-conducting goop.

Like caulking compound. This is not permitted in the NEC.

The NEC requires that three prong receptacles without ground

that are protected by GFCI must be labelled as such.

Edited by musicman
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Buyer backed out! We wouldn't agree to a HUGE repair allowance for them to rewire the whole house with romex (some plugs are still 2 prong), and replace all galvanized plumbing with copper.

Another offer coming in allegedly...

flipper

Jesus, sounds like you got some flippin' nuts on your hands. On a < $300K house, what's the point of doing all that work?!? Good luck with the next buyer. As you said, if you want new wiring in that zip code, they need to find a builder.

Edited by mpbro
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  • 2 weeks later...
  • 1 month later...
Any updates? Last I saw it was still Active on Market....

4701 Tonawanda-List Price $210,000 - list price raised to $290,000 just before purchase for $290,000.

4717 Tonawanda-List Price $215,000 - Sold for $276,000 New Loan is $247,000 though. I don't get that.

4721 Waycross looks more traditional with a list price of $219,000 and a buy price of $200,000.

Do you get your profit before the remodel and sell? How do you do it? The banks are okay with that, or do they hold money in escrow for repairs? Because I don't see them selling for much more than 300k, if that.

Just curious.

CyKat

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4701 Tonawanda-List Price $210,000 - list price raised to $290,000 just before purchase for $290,000.

4717 Tonawanda-List Price $215,000 - Sold for $276,000 New Loan is $247,000 though. I don't get that.

4721 Waycross looks more traditional with a list price of $219,000 and a buy price of $200,000.

Do you get your profit before the remodel and sell? How do you do it? The banks are okay with that, or do they hold money in escrow for repairs? Because I don't see them selling for much more than 300k, if that.

Just curious.

CyKat

I can't give you any insight into the houses I didn't buy, I only own one on that list. The listing agent entered the wrong information into Tempo off the HUD statement on mine. The sales price was none of the numbers you listed.

As far as your other questions...

Do you get your profit before the remodel and sell? - Nope. I don't get paid a dime until the closing table when I re-sell.

We use construction loans to finance our projects. You can learn more about them here: http://www.bankrate.com/brm/news/mtg/20020515c.asp

We have a contract for the resale of our house on Tonawanda. It's well over 300k.

flipper

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Hey,good for you. I think that it is so cool to flip rather than tear down. OF COURSE sometimes that has to be done. A CHALLENGE IS SO FUN AND VERY PROFITABLE

Since the house sold, I never got to see finished pictures...busy moving, having mother in hospital, owning two houses, etc. Do you have any topost - please?????

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Since the house sold, I never got to see finished pictures...busy moving, having mother in hospital, owning two houses, etc. Do you have any topost - please?????

Hey there Papillion,

We actually aren't done with the house yet. The buyer came along before we were done. I'll post pics when it's done though!

flipper

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