Saturday, April 6, 2013

Interested in the hard and tough business of flipping houses ?

The business of buying, renovating and selling a house can be a profitable investment but there is a big difference between buying and renovating a house with the purpose of living in it and buying and remodeling a house with the intention of putting in the market again. The big difference is  TIME.
When you are carrying a mortgage, insurance and utilities, every day between the purchase closing day and the sale of the house comes with a price tag attached to it. To have a detailed plan and have some experience with the process will minimize the time and cost of the project and leave you with a more considerable profit at the end.
The key of flipping houses is labor : qualify labor and labor cost. People that adventure successfully into this enterprise have to be  or have trade people directly involve and committed to the process. The involvement of experienced renovators from day one of the planning stage, and then every day during the renovation is essential for a successful and profitable operation. Every day counts when flipping a house. 
I have been parts of projects taking from 60 to 120 days of continuous work to achieve the planned dateline.
The experience to plan and organize all the steps of the renovation project is important. Knowing when is the right time for every task will save time and money. One good example is the case of the "pocket doors", we arrived to the site of this specific renovation to hang the doors, out of the 20 something doors, six doors were pocket doors, but the walls where all finished, boarded and taped and nobody thought about even framing or preparing the walls for hosting the pocket doors hardware and the doors them self. At this point the whole installation became three time more expensive and amazing time were wasted.
Everything comes with good planning, to have an experienced person to plan, organize and manage the whole process could be the difference between making and losing money in projects like this where time and a budget decide the success of the operation.
Here are some important points at the time of renovating a house to flip it :
Plan and properly budget every step of the way. Contract and budget the entire project with good trade people, experience and a high workmanship will pay at the end and save all the hassles, delays and loses that hiring a cheaper and unqualified renovator can cause. 
Remember the secret of flipping a house is time and quality renovation; good workmanship will sell the house once the house is all finished, shortening the time the house sits in the market waiting for someone to buy it taking away from the potential profits created for the value of the renovations. We have been involved in flipping projects were potentials buyers where viewing the house already during the renovation and we were able to show the choices we were making along the project pursuing quality and style for the finished product, it worked, the last finishing touches were done according to the personal taste of the buyers. that is the perfect flip, the house is sold during the renovations, that is how important a good team of knowledgeable renovators are for this kind of business. 
Do not save with the use of quality materials, use and implement quality construction procedures and materials and document it to be able to show it at the time to show the house. 3/4 thick solid wood hardwood floors will always bit laminated floors. Buyers will appreciated the difference.
Built-ins cabinets, nicely organize closets, a higher end trim design, a beautiful decorated powder room, a thoughtful foyer with a custom table, wall trim and two sconce lights at each side of a custom framed mirror had captivated more than one buyer.
Every room in the house has to have that custom touch of style and character. An original custom architectural design and a smart combination of refurbish high quality recyclable materials are a winning combination that not only brings that magic touch of custom and style but stand the house up from the competition. An old refurbished solid wood cabinet, installed as a cabinet for a bathroom vanity will always bit  the particle board vanities on sale in home depot.
If you are in the business of flipping houses and need qualify people to work with through the whole project, I will be happy to talk to you. Here is a list of things I have to offer :
Design assistance.
Assistance in choosing and purchasing quality materials at discount rates.
Experience qualify labor on every trade.
In house cabinet shop to build all custom cabinets and built-ins.
Master finishing carpenters to install decorative trim works and custom cabinets.
Professional finishing equipment and qualify tradesman to spray finishing your built-ins, either on shop or in site.
Professional Painters and wall paper installers.
High tech technicians for the installations of all the security, alarms, video and audio connections all through the house.