Flip Houses VIRTUALLY!

by DIY Maven

Flip Houses VIRTUALLY!

Shockwave launched a new game yesterday called "House Flip". The object of the game is just as it sounds. You buy houses, fix, clean or update them and then sell them for--hopefully--a profit. After receiving a link to the game, I spent about an hour playing it, and I must say, it's hilarious and completely addictive!

Continue Reading

How to Flip a House in 90 Days: Final Flipping Notes

by DIY Maven

Before we get to the happy ending, we should really discuss how to stay out of jail while undertaking a flip.

Notes on Owner-Occupied versus Non-Owner-Occupied

If you buy a house, move into it and remodel it, you can do all the work yourself–including all the electrical and plumbing. However, if you buy the house on spec, meaning you speculate on its resale, and do not occupy it, as we did with our flipper, you must comply to state codes. This is...

Continue Reading

How to Flip a House in 90 Days: The B & B’s

by DIY Maven

If you’ve been following this post, you’ve probably guessed that we hired out very little work. We did, however, hire a few tradespeople along the way.

People, People Who Need Trades-People

How to Flip a House in 90 Days: The B & B’s

Time being money, we chose to hire a sheet rocker who was able to hang 50 sheets of rock in the basement in eight hours. An impossible feat for most DIY’ers. We also hired a taper. Although we employed this fellow to get the job done fast, we also wanted...

Continue Reading

How to Flip a House in 90 Days: Construction Continues

by DIY Maven

As we covered approximately 2000 feet of molding and 20 six-panel composite doors, it was was necessary to employ several tricks to keep our sanity.

Painting Tips That May Prevent Insanity

 

Since we had removed the baseboard moldings where we were going to install the hardwood floor, we were able to paint the walls with little taping. Before re-installing the unpainted moldings, we cut 6 inch strips of poly sheeting and tucked that...

Continue Reading

How to Flip a House in 90 Days: Getting Started to Demolition

by DIY Maven

The short version:

Find the money to buy a depressed property in a great location, and then work your behind off.

The long version:

In our case, we exercised a line a credit against the equity in our home to come up with the funds. That only provide for half of what we needed, so we found a guy with cash who was as crazy as we were with whom to partner. We hired a lawyer to draw up an LLC to protect us, financially.

How to Flip a House in 90 Days: Getting Started to Demolition
Don’t let the...

Continue Reading