Flip This House?

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77401

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South of the Border in Houston, Texas
With all these Cable TV shows showing people flpping houses for money I am seeing a lot of stay at home moms & unemployed buying house to flip & not knowing what to do or what order to do it in.

This one lady... the first thing she had done was the hardwoods refinished before the paint or the kitchen or baths were demo'd. So everyone is damaging her new floors.

Any one else seeing this?
 
Yep -- I see this kind of thing fairly often. Flippers are not exactly ideal customers because they are looking to do everything on the cheap, as their only motivation is to turn a big profit on the house. That generally means they are going to have lots of free estimates done, and they'll go with the low bid. I'm not interested in that kind of work.
 
Same here but then I can try my best, too keep quiet, don't sell them an upgraded service like everyone else has tried. Then when I get my foot in the door start mentioning small things to do, so they'll sell it faster.
Then when the New buyers Inspection report comes in demanding the service wires raised. and the panel grounded, GFCI's, etc. I get the call.
 
Other flippers I have worked for only seem to want to rid themselves of the house, and therefore do not want to pay to get the wiring properly fixed up. Seems like they could care less if it burns in a year. I won't work for any of them again.
 
We work for flippers. All T&M. Once they open a wall...
Been working with a few who are smarter. They will gut the entire house, which means down to studs.
Knowing this I can give a price, instead of T&M.
Trick is to keep the customers and not bounce all over with the rookies!
 
We have worked for rookies and experienced flippers. Can't seem to get them to go with T&M , I shoot them a price built in with a little extra - just in case. They either take it or they don't.
 
Houses here are so $$$ you'd really have to get a heck of a deal to try to flip one.

A 30 year old 2000 sq ft house is over $600,000.

30 year old 1600 sq ft houses are between $400,000-$500,000.

We're building tract homes starting at $1,000,000.
 
77401 said:
Cowboy!
I just saw the news,CNBC a house in the valley just sold for $1000 per foot & the buyer is tearing it down.
Gottaluvit
Click to expand...

Happens all the time out in Palm Beach (on the island). They're ripping down older places with some character and architectural variation and building garish $10M monstrosities like crazy.
 
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