Michael and Melissa open up this podcast’s topic by talking about horrible motel stories. Bedbugs, roaches and mold lead right into the topic of the week - crappy accommodations.
Clients often ask, “How can I spot a bad flip?” Buyers think that they won’t be able to spot a poorly renovated house. After viewing enough homes it is definitely possible that the eye becomes more discerning. Melissa and Michael offer several tips of what to pay attention to.
There’s the obvious of checking online for permits. But even small details should be precise. Good contractors hire a good crew and keep them employed as opposed to picking up day laborers in the parking lot of a home improvement store. Regular crews work hard to ensure they won’t lose their steady paycheck. Day laborers? Not so much.
Michael talks about a flip where the contractor threw all the old appliances into a creek on the property, probably hoping they would float away and become someone else’s problem, and where the utility room was spray painted all one color, appliances included.
A quick list of things to look out for:
Is the house dirty?
Is the crown molding crooked? How about the backsplash?
Did they skip out on putting in a washer dryer (since it’s not required,) or are they trying to pass off old or unmatched appliances?
Are the door locks installed upside down?
Did they flip the refrigerator doors to face into the kitchen or leave them at their factory standard?
Is there landscaping?
If there are visible issues in the home that show neglect or shoddy workmanship, what could be lurking behind the walls?
Michael says another clue is when they try to cut a third bedroom out of what is already a tiny bedroom. Melissa says a major corner that almost every sloppy developer cuts from their budget is the roof.
The duo then discuss real estate mailers they receive in the mail and how inefficient and wasteful these are. Melissa received a real estate postcard mailing of houses that sold in her neighborhood, with a picture of her house on it. From 5 years ago. That was a shock!
The theme of the week? You learned it in elementary school. Check your work, people. Always check your work.