Call A Real Estate

[snoozefestaudio]

73F and cloudy tonight.

I feel like things aren't adding up with what I'm seeing at the house.

Last Friday I could see new drywall in the upstairs front room, yet old plaster and the old light fixture downstairs.

And this would suggest they did not redo the electric upstairs!

I mean... I know for a fact that all the electric in the upstairs front room is knob & tube wiring inside the wall cavity with no conduit.

But for it to be code in 2024, they'd need to install conduit with modern wires... and probably add a few circuits while they're at it, because the front room only has two, and one of them is shared with the stairwell, and an outlet in the livingroom.

But to do new conduit and wiring, you'd first have to get rid off all the plaster and lath on both the main floor, and the second floor.

So either they just kept the existing knob & tube... or they snaked romex up through the walls.

But even to do that, they'd have needed to install a modern breaker box... and I feel like they haven't had time to do that either!

I mean, that by itself would take a full day, and they've only been in there seven business days so far... with most of last week being about emptying the shit out of the place, and taking down the dog yard fence.

And I only ever see one van there during the day.

And the dumpster's been gone now for two days.

And I haven't seen any of the appliances, or the washer/dryer stack unit, or the shitty shower stalls, outside either.

So... I mean it seems weird that the upstairs would already be drywalled!

And I could see today that the upstairs south window, overlooking the driveway, has been drywalled over from the inside... and part of that is in the bathroom so... it's just weird!

--<>--

So... what if this flipper... really is, just a shitty-ass flipper doing a really cheep, half-ass job on the place?

Because if that's the case?.. That would make it way easier to buy back!

So, firstly... as I used to say, there's nothing you can do to make the house worse, right?

Like, even if it is a shitty ass hack job, it's gonna be nicer than it was.

But that said, I know all the code problems that house has!

So as a buyer, I'd get the place inspected, and then ding the shit out of them for everything... knob & tube wiring, old fuse box, ungrounded outlets in various places, crawl space foundation in need of tuck pointing, substandard floor support under the kitchen, rusting jack posts in the basement, no air returns upstairs... and on, and on...

And that'd be my leverage to push the price down... and down... and down.

--<>--

Admittedly, I have no clue how any of that wheeling and dealing actually works.

What does Chat GPT have to say?...

"Buying back your old house from a flipper can be a bit tricky, but it’s definitely possible! Here’s a step-by-step approach you might take:

1. Find Out Who the Flipper Is: Start by identifying the company or individual who bought your house. You might have this information from the closing paperwork, or you can check public property records for recent transactions.
   
   
2. Get in Touch: Reach out to the flipper or their real estate agent. Express your interest in buying the house back. If the property isn’t on the market yet, they might be willing to discuss a sale before listing it.
   
   
3. Understand the Current Situation: If the house is still being renovated or hasn’t been listed, you may have some leverage. The flipper might be open to selling it to you if you can make a fair offer.
   
   
4. Get a Real Estate Agent: If you haven’t already, it might be helpful to work with a real estate agent. They can help negotiate with the flipper and guide you through the buying process.
   
   
5. Evaluate the Property’s Market Value: Check the current market value of the house and any improvements the flipper has made. This will give you a realistic idea of what you should offer.
   
   
6. Make an Offer: If the house is on the market, make an offer through your agent. If you’re negotiating directly with the flipper, be prepared to make a competitive offer based on the property's current value and condition.
   
   
7. Get Financing in Order: Ensure you have your financing lined up, whether it’s a mortgage or cash. Being prepared can help smooth the buying process.
   
   
8. Conduct Due Diligence: If you manage to negotiate a deal, make sure to inspect the property thoroughly to ensure there are no issues or surprises.
   
   
9. Close the Deal: Once terms are agreed upon, proceed with the purchase as you would with any real estate transaction, including inspections, appraisals, and closing paperwork.
   

If the house is not yet on the market, you might have a better chance of negotiating a deal before it gets listed. If it is listed, you’ll need to act quickly to make a competitive offer."

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Okay, so... THAT'S my blueprint!

Time is of the essence, but we've still got about two months before it goes on the market.

I do know who the flipper is.

And I do know the market value, right? Because I just sold it for 78K!

So how much money is Torres putting into the place, and what kind of profit is he hoping to turn?

We know it'd take around 90K to really get that place up to code and look halfway decent... meaning he'd have spent 168K... but he's gotta pay employees and insurance and all that so... call it 175K.

And then, to make a 20K profit, he'd need to get at least 195K.

So we'll say that 195K is the ceiling!.. if he did a good renovation.

So my offer should be 195K... but if he only spent 45K on a half-ass renovation, then I should be able to force the sale price down to 150K.

And that's something I might be able to swing?

--<>--

I dunno!.. I'm gonna give myself until Monday to get this ball rolling.

The first step is the real estate agent.

Can I find a good one who I can afford?

And if I can, then we have two months to bang out some kind of deal with Torres, and some mortgage lender.

°¦}




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