FJ Bertuch (1747-1822)
Recently clients of ours went searching for their forever home. We saw many potentials over the course of their search and they were really torn between buying a home that was move-in-ready or buying one that needed their TLC.
Ultimately, they chose a home in an area they loved, with great bones, much more elbow room, but that did in fact need their tender loving care. They were kind enough to allow us to take some before and afters (and a few in-betweens) so our readers could see the transformation! (Please excuse the poor quality of my camera phone!)
A few tips for those thinking about doing something similar
Consider Hiring a Designer
While it might seem like an unnecessary cost to some, there are many advantages in hiring a designer for your flip.
For one thing, a designer is going to handle all of the logistics. They have lists of reliable contractors of all types that they will pull together which will set your mind at ease about finding quality and honest workman not to mention the hassle of scheduling.
The truth is that a designer is going to help you see things you couldn’t see yourself, to help give you vision. I would bring the designer in before you even write an offer!
Count the Cost!
You need to know the bottom line. That’s another plug for hiring a designer because they are going to be able to nail down bids from all the different types of contractors left or right in a timely fashion.
Don’t forget to have a good contingency fund between 5-10 grand depending on what the home is worth and what you want to do. I’ve never heard of a flip that didn’t come with a few surprises. If your smart with these steps, you can not only be living in your dream home, but build some instant equity as well!
Count the Emotional Cost too!
The popular flipping shows out there squeeze months of stress into 22 minutes of tv time. While it can be rewarding, fun, and even lucrative, flipping your next purchase adds stress and anxiety to a process that is already stressful as is. Don’t do it unless you understand the toll!
In over 40 years of selling residential real estate, I think that I’ve pretty much seen it all. And then, a new listing comes up where I realize, I was dead wrong. This happened to me just this last Friday. I’ll just call this listing, “the Bird House.”
But first a shameless plug for a terrific listing I have near “the bird house,” as these clients of mine were the ones who asked me about the bird house. My listing (1902 E. Tamar – See pics below) is on 4.38 gorgeous elevated acres in North Phoenix. It can be split into additional parcels or just kept as a private preserve area. Terrific views. The house is one of the best built homes I’ve seen and includes 14″ thick walls with an open great-room floor-plan. Very energy efficient. Click on the picture below to get more info.
Anyway, back to “the bird house.” The listing, by a fellow HomeSmart professional, states in the remarks section of the listing, “NO ACCESS TO INSIDE OF HOUSE!!! DO NOT ENTER HOUSE!!” Further instructions say to Realtors, “DO NOT SEND CLIENTS BY THEMSELVES AND DO NOT GO IN HOUSE PLEASE!!! ACCESS AT YOUR OWN RISK.” Now, being a member of the human race, that screams out to me, “Come on in!” So Jonathan and I drove out to the home near the Desert Hills community. The gate is padlocked, but we get in via Realtor access. Walking up to the home, which was built in 1988, there were dozens of bird cages sitting outside the home. Tremendous physical damage is evident everywhere we looked.
“DO NOT SEND CLIENTS BY THEMSELVES AND DO NOT GO IN HOUSE PLEASE!!! ACCESS AT YOUR OWN RISK.”
Then we hear cooing birds as we walk in the open front door. And there’s seemingly tons of pigeon poop plopped everywhere and filth on steroids. To say it was gross would be 2016’s understatement of the year.
There is a very long barn-like structure in the back that we did not dare venture in. Dozens of stalls, the size of horse stalls were screened in, no doubt housing more birds, perhaps exotic ones. More gross.
There’s much more to the visual and aromatic. We’ve taken a few pics for you. Oh yea, the house was appraised and sold in a day for $335,000 cash. It also sits on nearly 5 acres. The appraisal estimated $45,000 for demolition of all structures
And someone lived here.
Anyone want to see my Tamar listing?
A recent article from Realtor.com, our national trade organization, revealed that Americans love their pets, and especially their dogs, and even more so their dogs in Scottsdale, Arizona. Scottsdale was named one of the top ten (4th place) cities in the country for dog ownership.http://www.realtor.com/news/trends/top-10-cities-for-dog-lovers/
More and more clients these days are asking where the nearest dog park is in the community they’re considering buying into. The neighborhood where I live seems to annually request the HOA to provide a dog park even though there are miles upon miles of already existing grass and walking paths.
According to www.HumaneSociety.org, a 2015-2016 survey reported:
- There are 78,000,000 dogs in the U.S.
- 44% of all homes have at least one dog
- 50% of all pet owners own small dogs
- 66.7% of dog owners consider their dogs to be family members
- $1436 is the average amount spent on veterinary care per year
- 69% of Scottsdale homes have at least one dog
Referring to Scottsdale, the article shared this about the city as it relates to dogs:
- This wealthy suburb of Phoenix has no shortage of retirees who can spend all day with Fido alfresco. The city boasts a long list of restaurants and cafes with extensive outdoor dining for you and your furball, along with 20 bars where dogs can sit alongside your bar stool. (Don’t knock it if you haven’t tried it.)
- There’s also an abundance of pet shops that cater to petite dogs. Check out miniature frilly dresses and collars at Mackie’s Parlour, or Louis Vuitton knockoff dog toys, plush sports car-shaped dog beds, and rhinestone collars at
Oh My Dog. But please don’t go overboard-dogs embarrass easily.
Buyer beware about this! Some communities limit the number and/or size of dogs. That information is found in the CC&R’s (neighborhood rules) and is an important read even if you don’t own pets. Some clients of ours who have three dogs recently sold their home in McCormick Ranch, and purchased a home a little further north in a community that limited the number of pets to two. Our clients spoke in person with the President of the HOA about their three, and they were given approval. That’s good, because that rule could have been the proverbial deal killer.