“People without dogs are lonely. Dogs without people are cold and wet – and lonely.”
The supply-chain crisis is real. We bought a new Arcadia door for this home, and getting the glass to the window-maker took three weeks. Some things you just can’t get around, but I’m more than usually jaundiced about glass, cabinets and countertops. Paint, flooring and blinds, on the other hand…
Cosmetic flips are easy for us, and effecting Diamond Jubilee upgrades on postwar tract homes – block and shingle, built to last – is an eminently doable business. Cathleen would love do The Dowdy Scottsdale – updating a dated luxury home – but I’m not that greedy.
But: I need to move to the other side of the table. Controlling the listing is everything now, and there is no better way to control the listing than to be on title. Here’s fun: If I do this, I may ditch the MLS and “list” on Zillow, as I do with rental listings. Buyer’s brokers take heed: Ain’t no way to go broke like no co-broke.
In other news:
Real Clear Policy: Democrats Want to Hand America’s Failed Public Housing an $80 Billion Slush Fund.
TownHall.com: Between Afghanistan and Immigration, Have We Ever Had a Less Competent President?
American Thinker: Faux Capitalism.
Jordan Davidson: Leftist School Boards Association Begs Biden To Use Domestic Terrorism Laws To Target Concerned Parents.
Brian Brady says:
I found a perfect rental property (flipped and rehabbed) in St Pete; the inside was perfect and it had a new roof and AC. The young lady (who moved to Tampa from San Diego) did an amazing job but…
The exterior and yard had $20-30K worth of work to be done. She reflected the discount in the listing price but it’s sitting on the market for 10 days now.
I would have paid the price, cost of repairs, and a premium for a turn key rental. The cap rate would be over 5 at that premium price. I just don’t want the rehab headache.
October 1, 2021 — 8:30 am
Greg Swann says:
Rehab headache is just a money and hiring problem. Executive talent is irreplaceable, but labor is just Craigslisting until you have a team you can rely on.
This is a perfect flippartnering opportunity: If the difference between as-is and turn-key is greater than the cost of the rehab, the partners can split the balance and everybody wins.
We’re “whatever it takes” listers. For many of the homes I’ve sold lately, prep has consisted of landscaping and deep-cleaning – often under $1,000. But it was when skies were darker that we started demanding and overseeing rehab before listing, on homes that could profit from it. Every home will sell at some price, but making the effort repays effort.
October 1, 2021 — 8:44 am