<p>Live and learn.</p>
<p>Saw an awful tear down today listed at $810,000. It was depressing–condition of the home and inflated price. H had no interest in even looking. If we bought,MIT would have to be much more reasonable or in far better condition, or both. </p>
<p>CB, sorry you are having such challenges. </p>
<p>I think it would be interesting to follow someone flipping in Hawaii because there are so many unique challenges. I hear it is difficult to find trustworthy reasonable skilled labor that will actually show up when they say they are. And quick runs to get fittings are probably not easy. </p>
<p>Today was a better day. Lots of paint on the walls and ceilings at Project #2. I had swatches of paint colors on walls with trim paint and my recommended wood flooring and tile samples. Just like a professional Interior Designer! Owners came by after work and amazed at the progress and very happy. They are actually leaning towards throwing out the granite that we accidentally removed because it is that 90s mauve pink stuff and I’ve been telling them it really dates the house and will not look good with where we are going with the design</p>
<p>Flipping in Hawaii is a huge challenge. As you say, it is tough to get skilled workers to show up as promised. Getting materials is also tough–very limited suppliers. Prices for real estate all tend to be quite high, even for places that are essentially tear downs. Termites are a huge problem in our state too. Dry rot and corrosion can be huge issues too. Can’t get warranties on windows due to high corrosion. </p>
<p>Zoning is a huge issue, as well as getting approvals, flood and hurricane insurance. </p>
<p>CB, glad today was a better day! Sounds like the buyers are going to be happier with how things will turn out. Who needs mauve granite?</p>
<p>Another glamorous day today.</p>
<p>At Project #2 all day because I’ve decided that I need to keep closer to that one. My back up team that is working there does not work the same as my permanent employee who I am used to and I trust completely. We had a huge water flood issue last week when I wasn’t there and they didn’t tell me about it. I had to hear about it from the owners. He took out the toilet while the water was off. He forgot to shut the angle valve. The painters turned on the water main valve outside and the toilet hose was just gushing into the upstairs bathroom for 5 minutes. Flooded through wall down into kitchen downstairs.</p>
<p>I guess they mopped it up but owners came in later that evening and there was water dripping above kitchen sink window. I get the call… We had to rip out dry wall above kitchen sink and air everything out. I had a big talk with him that a) if something major happens he needs to call me so that I am not blind sided by owners calling me and b) if he ever disconnects any plumbing again he has to insure valves are closed and all pipes are capped off.</p>
<p>So, this morning he takes off the shower valves in same upstairs bathroom and the drain piece from the tub. I’m not aware that he has done this, but obviously he would have capped everything off appropriately - Right? I go outside and turn the main water valve on because I want to wash out some paint brushes in the kitchen sink. After about 1 minute I hear gushing water upstairs. Run outside, turn off main water line, run upstairs. Bathtub is 4 inches deep with water already and it is just running down the open drain to first floor (well, it’s not really open… there’s ABS 2" drain down there, it’s just not hooked to the bathtub right at the moment). </p>
<p>Go back down to the kitchen and there is a full waterfall coming out of the ceiling, traveling down the outside of the heat ducting. Kitchen floor is getting flooded. I start screaming for help and, of course, this is when all the guys are at lunch. I find one lousy stupid towel rag and I’m madly trying to mop up water as quick as I can so that it doesn’t ruin the kitchen cabinets which are staying in the kitchen. </p>
<p>What a freaking disaster!!! I was livid that he didn’t cap off the pipes up in the bathtub. And I was also to blame for not checking that the water could be turned on. It took us 3 people x 2 hours to open up all the drywall in the kitchen ceiling, shop vac all the water from everywhere and try to dry everything out. </p>
<p>My regular employee working on the North Park project is a saint. He would’ve never done something so stupid as to leave copper pipes open after pulling out plumbing. I am just so used to him that I have to blame myself for creating this mess.</p>
<p>Wow, CB, you sure are working hard for any profit you earn in these flips. Hope tomorrow is a drier and better day!</p>
<p>If you have an option, I’d fire this guy. But you may not have an option.</p>
<p>Went out yesterday afternoon and bought every combination of Shark Bite copper caps, galvanized threaded caps, Teflon tape, you name it. He has no excuse now. EVERYTHING has to be capped off properly and every valve has to be closed.</p>
<p>Today I am panicking because I cannot get any of my tile installing guys to even return my calls. I have a huge tile job on Project #2 and I need to find someone I can trust to tile huge new shower, bathtub surround, three fireplaces and about 500sf of floors. I guess that business is picking up and they don’t need my work. This will be the biggest challenge at this project, trying to get a good tile installer at a reasonable price that somewhat matches my estimate that I gave the owners.</p>
<p>CB, so sorry to hear of your troubles with this team. I hope it goes better soon and you find a good tile person.</p>
<p>Hopefully tomorrow will be your lucky day and they’ll all return your calls and have a bidding war to get your job. :)</p>
<p>I have two new tile installers coming to Project #2 today to look at work and give a general estimate for tile labor. I had to call a couple of friends that are general contractors and do a lot of high-end bath remodels to get phone nbrs of their tile guys. One of my regular guys called me back and he has a bad back and is busy for a couple of weeks. Other guy begged me for work a couple of months ago and now is not even returning my calls. He’s off my list.</p>
<p>The guys coming are probably going to be expensive tile guys, they do homes in Del Mar and Rancho Santa Fe (for those that know San Diego area). </p>
<p>Luckily I reviewed my detailed estimate that I gave the owners and I went high on the tile labor estimate just to be safe. Pheww!! I estimated $7,000 for tile labor alone (not counting materials). I’ll update everyone on the total number of sq ft, if I ever get it measured accurately. Then I’ll let you know how much it actually costs.</p>
<p>Years ago I had a hallway in my house re-tiled. The tile setter did not correctly prep the floor or net it before laying the tiles. One week after he finished the job there were cracks everywhere. Had to hire someone else to redo the job.</p>
<p>Update on that large house that I tried to buy earlier. The one where Listing Agent selected another investor ‘because they would be easier to work with’. It closed last week finally and I can see that my offer was $8,000 above the other investor. Remember that the Listing Agent would not let me raise my offer during the ‘highest and best’ final offer period. I was willing to even go up to about $10,000 over that other offer.</p>
<p>I can also see that the other investor took out a loan to close transaction (meaning that their offer was not really all cash). Amazing… that loan was with the Listing Agent’s mortgage broker/finance company. Gee, what a coincidence.</p>
<p>In hindsight I am very grateful that the opportunity was taken away from me so that I still had my cash available to buy the little gem in North Park.</p>
<p>
Maybe it worked out for the better for you, but this is complete BS behavior on the part of the agent. File a complaint.</p>
<p>Great way to end the week on a high note, with two tilers coming to give estimates! Hope it works well for you. </p>
<p>I agree. If you don’t file a complaint, it will just happen again. Maybe they turned down your offer for a lower one because you’re a woman. (Illegal.) Maybe because you’re a minority. (I don’t know if you are, but – illegal.) Maybe because you’re over 40. (Illegal.) Are they required to take the highest offer, all other things being equal?</p>
<p>
They have a legal fiduciary duty to the seller. If there was an all-cash offer for $8K higher than another offer with a loan contingency, a seller would be an idiot not to take it unless they were unduly influenced by the agent. The fact that the agent wouldn’t let CB raise her offer is absurd, and I hope she has an email trail showing that. One has to wonder if CB’s offer was even presented.</p>
<p>This agent clearly steered the deal to a desired buyer in order to generate repeat business and profit on the loan side, and f-ed the seller out of $8k.</p>
<p>If this agent has a broker, I would at least fire a letter off to the broker explaining what happened, because this agent’s rogue behavior is putting them at risk as well.</p>
<p>I might even try to get in contact with the seller and ask them if my offer was even presented.</p>
<p>@coralbrook, I don’t know if you have the time or energy to follow up as notrichenough suggests, but it sure would be fun – from my very distant vantage point – to see what happens if you do. </p>
<p>Also, @notrichenough, by (a) “agent” and (b) “broker,” do you mean (a) the person and (b) the company they work for? – e.g., (a) Sally Smith and (b) Coldwell Banker?</p>