New Fire Damaged House Flip

January 7, 2012 by 10 Comments

We are working on a new fire damaged property.

This is a 3 bedroom 1 and a half bath colonial located in Springfield.

The fire started in the first floor stairway and traveled up to the second floor. The majority of the damage was done by the smoke, the actual fire damage is pretty limited. The good thing is the fire didn’t spread up through the roof or burn through the exterior of the home.

 

Here are some pictures of the house:

Springfield MA Fixer Upper

Kitchen

Kitchen

Kitchen

Dining Room

Living Room with Melted TV

Front Hallway

Living Room

 

We are taking this house with all the contents so the next step is going to be the clean out.

Once we get it cleared of all the junk we’ll figure out what we’re gonna do with it.  We’ve got quite a few rehabs going on right now and some new purchases lined up so this may turn into a wholesale deal.

 

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Merry Christmas and Happy House Flipping

December 25, 2011 by 1 Comment

Just wanted to wish all our blog readers, subscribers and followers a very merry Christmas.

Here’s my dog Teddy doing his best Santa impersonation:

Santa Claws

 

Best wishes to all and lets have an awesome 2012!!

 

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House Flip Story – New Springfield Tornado Damaged House

December 21, 2011 by 4 Comments

We’ve bought another Tornado damaged house in Springfield. This one is a nice little ranch that took a beating from the tornadoes heavy winds.

The storm ripped the front of the roof clean off and knocked out some windows as well as ripping off some siding.

The roof was tarped but it was still leaking pretty bad so there is a good amount of water damage to the living room and two bedrooms.

We plan to gut out the kitchen and all the water damaged sheetrock and floors. On the exterior we’ll reframe and resupport all the walls and the new roof, install new windows, and do new siding.

The sellers of this house actually found us right here on our blog. They did a google search for “selling springfield tornado house” and my previous post about our other tornado house came up. Pretty Cool!

 

Here’s a look at the house:

Springfield Tornado house

Tornado Damaged House

 

Rear of House

Living Room

Living Room

Bedroom 1

 

Bedroom 2

Master Bedroom

Kitchen

Breezeway

Full Bath

 

And here’s a look at our neighbors house.

 

Neighbors House

Not much left but a fireplace and chimney!!!

 

We’ve started the demo on this one and the new roof should be going on.

 

We are working on lots of other projects as well. It’s full speed ahead, buying and selling like crazy!!!

 

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Whats the Best Day to Sell Your House??

December 12, 2011 by 1 Comment

Sell My House Springfield MA

I came across this interesting article on www.Redfin.com.

 

If you’re like us and you put a lot of properties on the market, you have probably given this some thought. What is the best day to list your home???

 

Dominic and I are always going back and forth on this. We usually try to put our properties on the market as new on either a Wednesday or Thursday….. this way all the buyers will get it in their email updates and will be able to look at the house over the weekend. We were pretty close but according to this Redfin study it looks like Friday is the best day to list your house.

 

Check out the article below:

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What day of the week should I list my home?

With home sales in the gutter, anyone thinking of selling a home today can use all the help they can get, starting with what day of the week to debut.

Serious sellers know that it is important to make repairs, stage well, and showcase their home online with professional photos, but there isn’t a consensus about which day of the week you should list your home for the best results. This is evidenced by the fact that new listings on the market are spread pretty evenly between Monday and Friday, with each day getting between seventeen and nineteen percent of the total share of listings (Saturday and Sunday are much lower at five to seven percent).

Since you only get one chance to make a first impression with your listing, we decided to dig into our data to find out whether putting your home on the market on a certain day of the week is correlated with sales success. We pulled the data on over a million listings spread throughout the nation over the last twenty-one months, and here’s what we found:

  • Homes listed on Sunday get marginally more online views.
  • Homes listed on Friday are toured 19% more.
  • Homes listed on Friday or Thursday sell for slightly closer to original list price.
  • Homes listed on Friday are 12% more likely to sell in 90 days.
For the best chance of selling your home, list it on a Friday.

The difference in views and sale-to-list ratios were not very dramatic across the week, but in the tours and sales categories, Friday was the clear winner. For the most tours and the best chance of selling your home, list it on a Friday. If you are the kind of seller that is more interested in online views than actually selling your home for a good price, listing on Sunday is a great plan. But since we’re pretty sure that kind of seller doesn’t exist, we’re confident in recommending Friday as the seller’s best day to list their home.

So why would Friday be such a great day to put your home on the market? Our theory is that since home buyers tend to tour homes on the weekends (Saturday and Sunday have 2.5x as many tours per day than Monday to Friday), homes listed on Fridays are the freshest in buyers’ minds when they’re making their weekend plans. It also seems likely that many home buyers sort their weekend “must see” lists by date listed, going to see the freshest homes first so they have the best chance of getting in on a potential good deal before other buyers. These factors put homes listed on Friday in front of more touring buyers on the weekend (which our touring data bears out). More tours leads to more offers, and more offers leads to a better price and a better chance of selling.

That’s our theory, now let’s hear yours! Also, for your viewing enjoyment, we have compiled our findings into the convenient chart form below. Note that while the sales data is based on all listings, the data on views is based only on views at Redfin.com, and the touring data is based only on homes that our agents took our customers out to see.

What day of the week should I list my home?

 

 

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Whether you are an agent or an investor, this is some pretty helpful information.

 

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House Flip Story – 32 Garcia St Before Video

November 29, 2011 by Leave a Comment

And now, for your enjoyment……… Here is the before video that we did of our 32 Garcia St project.

We had a lot of fun with this one, and the transformation was pretty amazing!!!

 

You can see pictures of the finished home HERE.  All the before pictures are available HERE.

 

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House Flip Update – 32 Garcia St Before Pictures

November 22, 2011 by 1 Comment

Here are the before photos for our Springfield rehab on Garcia St…… it’s a pretty dramatic transformation.

 

You can see all the after pictures here: 32 Garcia St After Pics

32 Garcia St Before

32 Garcia St Springfield MA

Kitchen

Old Knotty Pine Kitchen

Dining Area

Full Bath

Living Room

Living Room looking at wall we removed

Bedroom

Half Bath

Basement Bar

32 Garcia Springfield MA

So there you have it. I did this one backwards, I posted all the after pictures before the before pictures.

We closed on two new properties yesterday, a short sale and another tornado damaged house.

I’ll have some updates on these new projects shortly, so stayed tuned for more adventures in house flipping!!!

 

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Renovated Springfield Home For Sale – 32 Garcia St

November 17, 2011 by 10 Comments

We finished up a new renovation project and it is ready to go up for sale.

The property is a 3 bedroom ranch with a huge 2 car garage, large yard and finished basement. It has a full bath, half bath and just under 1,100 square feet.

We did new roof, siding, windows…. new electric, new kitchen, new bathrooms…. plus all our usual top notch upgrades; granite counters, stainless steel appliances, shower panel with body jets, cherry stained hardwood floors, etc.

All that’s left is to get the yard cleaned up and take some fresh new photos of the exterior. Those will come when it stops raining and the sun comes out again

Check out the finished home, fully staged and ready for a lucky new homeowner!

 

32 Garcia St Sprignfield MA For Sale

Home For Sale Springfield MA

Living Room Staged

Living Room looking into Kitchen

Kitchen

Kitchen

Dining Area

Open Floor Plan

Full Bathroom

Shower Panel with Body Jets

Bedroom -- Cherry Stained Hardwoods

Finished Basement with Bar

Half Bath

Basement

Living Room looking into Kitchen

Kitchen from Living Room

Springfield MA Home for sale

 

I’ve got some before pics and a before video of this one that I have yet to post…… you guys are going to be amazed at the transformation!!

 

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Buying Houses, Selling Houses, and Quick Flips

August 16, 2011 by 2 Comments

Well it’s been another busy summer and a rather eventful past few weeks.

We closed on our last purchase in July. This is a short sale deal that doesn’t need too much work. It’s a nice 4 bedroom 2 bath Cape in need of mainly cosmetics. We were able to get it at a real good price because the people living there were very dirty. They had junk all over the floors, dirty dishes and empty food containers all over the kitchen, trash bags spread throughout the house and the house stunk pretty bad. I was pleased to find out that they didn’t pick anything up when it came time for the appraisal, so the house showed really poorly thus helping us get the discount we needed.

After we closed on the short sale house we didn’t have anything new set up in the pipeline. Every once in awhile we hit a little dry spell when we don’t have any deals lined up…… it’s very rare but it seems to happen like once a year…. don’t get me wrong, we are still working on several rehabs, and have a bunch of finished deals and wholesales lined up to sell, but we didn’t have any new purchases set up.

So I cranked up the marketing and sent my vibe out to the world that I was looking for deals…. kind of like in The Secret; you know, the law of attraction and all that metaphysical stuff.

Next thing I know, 2 weeks later, we are working on 5 new purchases….. and I still have a handful of leads to follow up on that could be deals too!!!

So now Dominic is busy working on the paperwork for all these new properties as well as getting the funds together.

Meanwhile, on the other end of the spectrum, we are selling quite a few properties as well.

One that closed Friday was a nice wholesale deal. Now usually wholesales are suppose to be turned real quick for some fast cash…. not the case on this particular one. We picked this deal up as part of a “cherry pick” of a bulk REO package. It was a multi family property with some slight fire damage. It had been vacant for quite some time and the looters got in there and stole all the plumbing and heating systems. Our deal with the bank on this one was that we had to front the whole purchase price while they processed the foreclosure deed, this was back in December. We were told it should take 30-60 days for the deed to be processed, but could take as long as 180 days….. No problem we originally thought, that will give us plenty of time to sell it.

Well we found a buyer willing to pay full price in less than 30 days using my Craigslist posting methods …. unfortunately the bank was a little off with their 30-60 day time frame.  I guess with all the robo-signing nonsense and lawsuits going on the banks are being even slower in processing all their paperwork and getting the deeds out.

So after about 7 months we finally got word that the foreclosure deed was in. Our buyer stuck around the whole time because he knew he was getting a great deal. We closed last Friday and finally put an end to our “quick” flip!

I’ll get some pictures up of some of these latest deals, as well as our current rehabs, as we go along.

.

 

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