I mean my gosh......the band aid approach to maximize their profit is unreal. I'm all for market society but house flippers tend to be way too greedy. The "workmanship" I have seen is practically non-existent.
Replacement windows without Low E--why bother?
Berber carpet over old padding. Do you shower then put on dirty/worn underwear? Didn't think so.
Using Staging as a trick to take you eye and brain away from the major flaws.
2007-07-21 14:28:35 · 7 answers · asked by Captain Tomak 6 in Business & Finance ➔ Renting & Real Estate
You are not the only one.
I went in a flip recently. They started off with good intentions in the kitchen, nice flooring where they were staggering the seams, but then apparently ran out of patience for the project, and lined up about 3 feet of seam. Looked good at first glance, then that big ugly seam in the middle of the floor.
In the bathroom, every metal finish was represented. Looks like everything was purchased at yard sales. The towel rings were antique gold and black, the same kind my mom has had in her house for 25 years. The light fixture was chrome, the tub fixtures were a brushed silvery metal finish, the towel bar was gold and the knobs on the vanity were white. Just looked horrid.
They painted over paneling. Poorly. This just screams tacky.
The bedrooms were all carpeted the same, from a roll I saw on the clearance rack at a local DIY store. It stuck in my mind because it was such a weird color. And viola! There it is in this flip house. In every bedroom.
Plastic laminate counters. Yawn.
And I agree with you about "workmanship" - it was obvious in the details that there was no attention to the details.
I can just see some couple high fiving themselves for the "great job" they did getting this house together. I hope for their sake this is the first and last flip.
2007-07-21 15:12:58 · answer #1 · answered by godged 7 · 2⤊ 0⤋
You're doing what you should and congratulations to you for spotting these "shortcuts". Since I flip several houses a year I feel qualified to say that the people who do this are either extremely greedy or (more likely) amateurs who watched too many episodes of "flip this House" and paid WAY too much for the property and have to resort to this sort of "patchwork" to realize any sort of profit. I'm running into more and more houses for sale, mid-flip, from people who got in over there heads and can't understand what went wrong.
While I try to save money wherever possible there are certain basics that every house should get (Low-E windows, all new flooring, quality roofing materials, etc.)
I don't put granite countertops in $100k houses but tile makes a cost-effective alternative. Real hardwood floors are great in my higher priced homes but laminate is appropriate for the others. I rarely use vinyl on anything (laundry rooms, occassionaly).
The "flip" side (pun intended) to buying a flipped house is that everything should be new and, if properly done, should last you for many trouble-free years.
2007-07-21 14:41:58 · answer #2 · answered by Anonymous · 3⤊ 0⤋
HA! No you are not...there are only a couple of investors in this area that I would recommend that do quality construction, others I would avoid. You can do alot with carpet, pain and caulking.
I once walked into a house with hardwood floors under carpet where you could feel every indentation and bulge that had been covered up...we then walked past the bathroom and I said, "OMG...no way"...the tile along the floor, on the walls was "off" a good 1/2 a TILE. I went out to my car and get a level...it was so far off I said, "This is not a house I would recommend"...and we left.
However...at first glance, it did look pretty darn good.
2007-07-21 14:50:45 · answer #3 · answered by Expert8675309 7 · 2⤊ 0⤋
Hey, It happens. It sounds like you have your head on straight. Nobody is going to fool you. but you know that many people just suck up the superficial looks of a property and home inspectors are not much help. Yeah, I know the difference but I have been in the business for 20 years. Most people just don't get it.
2007-07-21 14:43:47 · answer #4 · answered by Traveler 7 · 1⤊ 0⤋
Sounds like you have seem some bad flips. A good flipper knows that to maximize profit they should not cut corners.
2007-07-22 13:13:20 · answer #5 · answered by frankie b 5 · 0⤊ 1⤋
you are 100 % CORRECT and the law of supply and demand will catch up with the authors of poor craftsmanship.
2007-07-29 13:58:21 · answer #6 · answered by endgame1915 3 · 0⤊ 0⤋
You are absolutely correct. I too avoid them like the plague.
2007-07-22 07:02:25 · answer #7 · answered by Nancy 4 · 1⤊ 0⤋