House I’m working on

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montesa

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Profit. $$$. (Sorry, thought you were the investor! )


On this one I am not. Just hired to fix it. I’m under contract to buy a house that’s even worse than this one though. It’s in probate so i won’t know for awhile if it’s going to go through. Can’t wait to post pics of that one.
 

montesa

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Update on this. I’ve been working on this house part time trying to keep it cheap. Every day more is exposed that is rotten and not worth connecting to. I could build an 800 sq ft by myself quicker than this. Decided to talk turkey about the numbers today with the investor. I offered to give him back everything he has paid me if he pulls the plug minus the material costs to maintain the relationship. I find it harder everyday to do anything there because the numbers don’t work for me. I’m too old and too much of a righteous bastard to play that game. It’s not a fun one for me.
 
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harley128

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Update on this. I’ve been working on this house part time trying to keep it cheap. Every day more is exposed that is rotten and not worth connecting to. I could build an 800 sq ft by myself quicker than this. Decided to talk turkey about the numbers today with the investor. I offered to give him back everything he has paid me if he pulls the plug minus the material costs to maintain the relationship. I find it harder everyday to do anything there because the numbers don’t work for me. I’m too old and too much of a righteous bastard to play that game. It’s not a fun one for me.
Well, how did he react?
 

O4L

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I went out out a limb, ran the numbers and presented my case to him. We’re going to meet there tomorrow to talk about it. Went better than I expected. Usually when you call it like it is it pisses people off.
I have told many an "investor" that they would be better off bulldozing the place down and building new. They usually don't like hearing that.
 

montesa

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I have told many an "investor" that they would be better off bulldozing the place down and building new. They usually don't like hearing that.

Good use of quotes. Anyone can be an investor. You just need the cash to get started. Usually it goes really well and many people with no skills at all get rich. This is my last one. If I can’t make this guy happy they can all get FKd.
 

Snattlerake

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A lot of investors think they know houses and buy a house because they seem cheap on the surface. They think “well the last few weren’t bad. This one shouldn’t cost much more.” They’re comparing a cosmetic remodel on a good slab with something like this where most of the floor is taken out and all of the plumbing has to be redone. Needs piers on the stem wall in several places. Grading around the house for drainage. Probably new wiring too. Adds up so quickly and the good deal costs more than a house ready to go or one that has good bones with a cosmetic remodel.
That's why I cannot stand flippers. They hurt the first time homeowner that is handy with his hands and could use a fixer upper. The flipper usually puts back builder's grade tile, carpet, flooring, etc to cheapen the remodel so it looks good. At least the plumbing and electrical have to be done according to code.

There is a show on TV that shows people walking through other people's houses commenting upon their decorating tastes and usage of spaces. It torques my nut to no end seeing these shallow minded people not even looking at the house they are just looking at the furnishings and dated appearance. They cannot see the potential of the house because of their expectations of hotel type furnishings that have to be devoid of any appearance of being lived in. No personal photographs on shelves, no books, no personal collections, just sterile shelving with vases on them.

TV's are never the focal point in the room as they are in real life. The fireplace no one uses all year long is always the focal point and the seating is always favoring it. Anyway after they "stage" the house they re run all the previous idiots and they all make better comments on the house usually ending in offers to buy. I gotta watch this stuff because the wife does. Makes me wanna puke.
 

montesa

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That's why I cannot stand flippers. They hurt the first time homeowner that is handy with his hands and could use a fixer upper. The flipper usually puts back builder's grade tile, carpet, flooring, etc to cheapen the remodel so it looks good. At least the plumbing and electrical have to be done according to code.

There is a show on TV that shows people walking through other people's houses commenting upon their decorating tastes and usage of spaces. It torques my nut to no end seeing these shallow minded people not even looking at the house they are just looking at the furnishings and dated appearance. They cannot see the potential of the house because of their expectations of hotel type furnishings that have to be devoid of any appearance of being lived in. No personal photographs on shelves, no books, no personal collections, just sterile shelving with vases on them.

TV's are never the focal point in the room as they are in real life. The fireplace no one uses all year long is always the focal point and the seating is always favoring it. Anyway after they "stage" the house they re run all the previous idiots and they all make better comments on the house usually ending in offers to buy. I gotta watch this stuff because the wife does. Makes me wanna puke.

Youre right about flippers. I have a friend that bought a house in Norman that was a flip. Low grade new stuff and all the problems carefully covered up. Ended up having major foundation issues and other things. He got a terrible deal and has to live with it. It’s very easy to hide things that shouldn’t be hidden and someone will come along and pay top dollar for it. Even the flipping shows on tv have ended up in law suits because of the nature of the business. It can be done right of course but there’s a lot of incentive to cut corners.

If it makes you feel better, when I plan a living room I plan for a large tv, seating that works with it and plans for where the surround sound should go. Nothing worse than a nice looking living room with a tv jammed in the corner out of place and wires running everywhere. Somehow that’s classy I guess.
 

Oklahomabassin

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This reminds me of a "remodel" we did about twenty years ago. The only thing we didn't touch on the entire house was the roof because it had been replaced a few years before.

It was a tiny two bedroom, about 800 square feet, in Wewoka. The BIA was paying the bill and would just bulldoze the house if it cost more than $50K to remodel it.

My dad decided we needed to get involved so he put in a bid for just under that amount.

We stripped everything down to the bare studs and joists inside and out, and rebuilt it back like new.

After that experience my dad never bid on any of those projects again.
Within 10 years, it was probably trashed out, and remodel time again. See it often around here.
 
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