Estimating Rehab Costs Like a Pro
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- เผยแพร่เมื่อ 30 ก.ย. 2024
- www.freedomment... Discover how to estimate rehab costs like a pro so that you know exactly how much it is going to cost to fix up your next house. Here is the AFTER video • Home Renovation Tips f...
Come on Phil...You gotta estimate the length of them slacks better. Just playing with you, very informative vid.
Lol
Yooo🤣🤣
😂😂😂
matt8863 screaming😂😂😂
Hammer time lol love ya Phil
I would really love to see a the after repaired result to this property.
I didn't think that house was that bad at all. I mean once you get all that junk out of there you'd be about 75 percent done.
House still needs a total gut job though
This video made me clean my house
Not this exact video but, same 😂😂 I came home on my lunch break after watching a hoarder house flip on another channel and I was like omg we live like animals and spent my lunch break cleaning lol
@@sam5miy LOL !!!
Suddenly I don't feel like my house is such a mess!
I love seeing Hoarders. My house is empty.. lol..
First rule of walking an abandoned property: NEVER OPEN THE REFRIGERATOR!
I know, that is so true, cause I went to see a REO and I was forewarned not to open the the Refrig...So I ask the agent if this is some sort of tales from the Crypt with refrigerated bodies. We had a good laugh about it. But it was really dark and creepy...lol
.... but i have to! Curiosity killed the cat!
I had my contractors take an $1,800 refrigerator out in the backyard wearing a respirator and had them clean out after having food in it for 6 weeks without power. That was the worst $200 I ever spent. Sadly it had to be thrown away, even after running an Ozone Generator inside for two hours!
UltimateBargains LOL I've learned that in a very bad way. LOL
...OR LIFT THE TOILET LID
"Forgiveness is easier than permission" I just recently found this channel but already love this guy. Also, never apologize, instead ask for hard but just punishment.
I would buy this house in a nanosecond. One giant garage sale would pay for the rehab!!
God I wonder how much you could get for all of that!
@Sally Pickering maybe if someone needs VHS tapes, moving boxes and old books, but I doubt it. I would offer it for free to save on hauling cost...
2:30 - A fun way to announce your entrance would be to kick in the door while yelling “FBI DON’T MOVE!!!”
yup.. but at least have a big mag light on you for crackhead squatters... i flipped in houston, and there were a lot of those... i'd find human poop on the floor with broken crack pipes and used needles and condoms... way nastier than the house shown here. ha
Awesome video Phil. I really enjoy watching your videos because the are very informative and no BS! You shoot straight from the hip and thats what I like about you. You say things in a way where it all makes sense.
This is like watching an episode of Hoarders
NEVER paint popcorn ceilings if anything scrape poporn off noboby likes popcorn ceilings why would u paint it
It's an expensive messy job.
have you ever scraped off popcorn and retaped and floated a ceiling? obviously not. not easy or fun. if it's over 30 yrs old, it may be asbestos. and last point: if it's a rental, why the heck would you even think to pay $600 to $1500 more per room to scrape, float, and repaint every ceiling? In fact, most of the time, after I give the client an estimate for that, they change their mind. Now if you have to re-sheetrock a ceiling sure maybe it's worth the extra $500 for finish sanding, priming etc before paint without texture but most of time just a little orange peel or something is great to save time from finish sanding, have you ever seen a cheap popcorn scrape job? where the ceiling is all scarred up, has dips in it and the bits of float paper are coming through around sheetrock seams through paint? oh you want that fixed well it'll be $1500 to sand, mud, sand, then paint again... or... we can mix flat white paint with texture and spray it for about $400 :)
Depends on the specific market.
took me 5 days to scrape popcorn ceiling, its horrible
I love popcorn ceilings. this is a modernist house and modernism is about clean lines and textures. if you remove the popcorn you have a very plain and boring looking room. Always paint the popcorn, use flat white paint a a very thick roller, and paint away
after yard selling all that stuff the renovations will pay for themselves lol
Give Thanks
Digser Abreu heck yeah I was saying the same thing all that stuff could be sold and the money prolly $3,000 plus depends on any valuable paintings,designer clothes, appliances, beenie babies, old books collector series ..even furniture, VHSs,you name it..
It's not worth the time. Throw it all in the dumpster.
Thank you Phil for the excellent tips when doing a home inspection. I'm new to real estate investing, and estimating the repair costs was one of my concerns when deciding whether a home is worth the time and effort, or if it might result in a disappointing loss of money in the long run. I'll be viewing your other helpful videos as well. Steve.
I didn't recognize you without the white board lol. great video!
Dragis Alfonso 🤣🤣
Woooow!!! I guess the old adage is really true~ "You don't know what you don't know." Talk about creative! You rock Phil. What did you end up doing with the property?
Forgiveness is easier than permission :P I love that statement.
Hello Phil, very nice video. Perhaps you have already done that but just in case you haven't I think that it would be interesting to see a similar due diligence analysis video in case of commercial real estate, like multi family homes etc.
agreed
"This floor... is awful." It really was. That had me laughing!
Never, NEVER purchase a house with a HOA. The best piece of advice I will give, Pay a plumber to stick a camera down the whole sewer system.
If I was buying that house I would tell my mother and grandmother to go through all that stuff and have a yard sale. They keep half and my half goes into the rehab. Just a thought.
@Charles are they hoarders too? I wouldn't let my father into that mess. He would keep everything ughhh I hate hoarding.
“Sometimes the best contractors are not that expensive” tell that to trump and his wall🤣
never pay a contracter by the hour , always by the job.u dont want to rush a contracter or let them ride time by the hour
Depends on weather they are honest if we are charging hourly and the time gets above what a bid would have been we will cut back the hours on the invoice yet we did work the extra hours doing a better job as the issues that arise are addressed without the pressure of not making a fair profit will produce much better results if you can find a fair honest contractor. I just cut 30 hours we worked off a invoice to help the customer stay within budget many contractors end up working hours they didn't account for in a bid but it being my choice makes me much more likely to do so giving a fair end cost.
Thanks for this video and many of your others. If you went through on this house and fixed it up, do you have an after video, or after pics? Just curious how it came out? Thanks
do we get to see this property after you have REHABBED it?
+Phil Pustejovsky Yeah it would be nice to see what you ended up doing with it. Thanks for the video.
X3 on the before and after... would love to see what was done... especially the backyard... If it was me, I would have cleared the bushes and trees to see the lake and then maybe do some concrete leading to the lake and have a nice fire pit with chairs.
Andrejs Duda
Here is the AFTER video: th-cam.com/video/OqErDX4dVZQ/w-d-xo.html
+Phil Pustejovsky , thank you so much for all the great info you are providing, I want to know do you NEED to get down to the property?, because I live in an expensive urban area, and I see good deals in other states like Indy, would you recommend investing in other states without walking the property?
Such a nice and comfortable house. Great location, the lake view is just amazing, I mean will be when the trees and bushes ruining the view are cut down. The owner must have been a very motivated seller. That mess was just insane, good thing they finally took the time to sit down and reflect on their life and where they are going with it which landed you a great deal I guess? I hope you can clean the place and make the best out of this property. Anyways, great video as always, I really like learning about creative real estate through your videos : )
Dave
informative video, Phil. Thanks. I'd suggest also taking photos as you walk through the place to later remind you of what you observed.
That doll head freaked me out.
Who ever lived there were hoarders..buried alive!!! Nice video.
Phil those pants are the devil lmfaoo...... but this was an excellent video ...
Hi Phil..great video! Quick question...what would you expect to pay the laborers to clear out all the junk?
It took 6 dumpsters at $250 per dumpster and it spanned several days. I ended up paying about $800 in labor costs plus the cost of the dumpsters.
I bought Carlton Sheets program twice.
I have little knowledge if the ideas really work.
No sheet rock, just paint the wood wall white. The diagonal planks are classic.
A sink full of dirty dishes?? Hoarder or not, this is revolting. Looks like the owners were forced to flee the house due to a wildfire.
When entering a hoarder house I suggest wearing some old work clothes and bringing a piece.
Installing laminated flooring in your kitchen is a BAD IDEA. If any moisture or spills get on the floor an doesn't get cleaned up in about 30 mins to an 1hr, it will completely DAMAGE the floor by creating HUGE air pockets and tears. Another COST EFFECIENT approach would be to use VINYL FLOORING, you can install it just as easily as laminate, and would be nearly impossible to scuff up or ruin. Laminate isn't recommended in Bathrooms or basements for the same reasons.
I use Vinyl Plank Flooring these days. That video was shot several years ago.
Informative video.... Was that lighter fluid on the hot water heater?? Lol
this is one of your best videos you should definitely make more of these Phil ..
I've helped some extreme hoarders clean up, it is really more of a sickness. And sometimes a terminal illness that can cause very real injury or death to them and others. Especially if that person lives in a highly populated apartment complex. Their kitchens (if not the whole house) are often times fire hazards that could ignite at any minute, and destroy anything around them. It is very upsetting to see it in person. But it also demands some respect, because it is difficult habit to control as the collection of "stuff" is generally filling some personal void.
I'm a VERY mild hoarder, by virtue of living in poverty with limited access to resources, let alone nice things. So I will often times "hoard" something, generally with a specific purpose or intent to use it for something, and/or to replace something that is at the end of its' life. As such, a company was scrapping a lot of electrical conduit, so I grabbed as much as I could (about 2' diameter if all bundled together) and I intend to embed them in the ground and cement (in 5 gal buckets I too collect and use a lot) and make a makeshift fence out of them at the house I rent, which I can later remove if needed. As well as other purposes, such as a green house, or roof rack, etc...
Note: Where trashing that stuff might cost thousands of dollars. An investor could literally sell the stuff for just pennies, and generate a few hundred dollars that might pay the cost of scrapping everything else.
we had tenants who were too lazy to bring their garbage outside so they filled an entire room almost to the ceiling with smelly garbage bags. and they had young kids!
That's beyond extreme..... Sometimes there simply are no words. I had residents trifling in a unit of mine I had to kick them out because the damage they were doing was worse than if if someone vandalized the property. The neighboring tenants felt bad for the single mother of 2 kids + relatives, cramming 5 people into the smallest U-Haul they could get to get a ride to Chicago from Indianapolis, and they certainly weren't happy with me throughout the entire process. And being white did not help at all.... But after they had packed all they could and left what they couldn't, most of those residents came around to understand it was for the best. Besides. So much of their stuff was junk, by being forced to move, they get to start over clean and fresh without all the garbage they left. But habits don't go away easily.
I don't live like them at all and even I sometimes wish a house fire would wipe away the stuff I got but don't know what to do with.
Phil, this was a great video. Simple, but thorough. Like you said throughout the video, it's all on whether you are renting or selling. Having your experiences kind of makes a person feel more in "control", with a methodology for their estimate.
I think its give & take on these videos they're giving you enough to take to another level if you're willing to.
Phil, great video. I really liked the $5K block system.
The slide in range cost well over $1000 wholesale
you're just amazing Mr.Pustejovsky.. you've made me feel.... smart? lol.. im going to get my real-estate license because of you now.. no joke.. I've watched just about every video you have... including "quit your job for real estate?"
Estimating rehabs correctly is very important and will save you time and money. GREAT VIDEO!!!!
This video just change my life
wow!!! I thought I was detailed. some of this I am familiar with but it was super HELPFUL. THANKS
It is like a time capsule with everything 80s and 90s. I LOVE those knobs in the kitchen and would have to keep them and use them on the new cabinets as a homage to the house's past.
I am learning so much from your videos and this one is PACKED with so many useful info. Thanks for the knowledge Phil and keep doing such an amazing job!
Man..some of the BEST INFORMATION HANDS DOWN! Thank you!
👍👍👍
Thank you for making this video
What about windows, sliders, and doors (interior and exterior)? At what point are you replacing these?
Thanks Phil ! Very educative as always
You're awesome! I appreciate you.
Thinking about trying my first flip, your help is appreciated and I did subscribe.
excellent video thank you
How much were dump fees?
This guy is a character 😂
I never knew all of that when it came to real estate investing on the retail side and on the renting side. And I cannot believe you're going to turn a house that belonged to hoarders into a money make. Wow! I do have one question though and maybe because of your experience you can answer it. Why do I never see or hear about any real estate investing or projects in St Louis City just a question?
Strange question. I have no idea what circles you run in, what articles you read, what resources you have access to. How would I know why you don't hear about something?
Phil Pustejovsky the reason why I'm asking is because frankly in St Louis City I know of places where the whole block is full with fake and houses and I would love to do we have them hands use them as rental properties but the raking house I'm talking about look a lot worse then what I see on this video they've been vacant for years probably used to be rentals or drug houses and to be honest I would love to rehab them . But because they're so old I don't know if its a good idea. The houses I'm talking about compare to what you have in this video look like home sweet home LOL! the question I'm really asking. Is it a good idea 2 fix up a really really really bad house in the hood with terrible conditions or should I leave them alone because I haven't seen any construction in the neighborhood I go by for years? Just from your experience because everyone I asked give me the runaround that's why I subscribed to your channel. sorry for the lengthy statement but just trying to get knowledge. And I'm getting that book. Thanks
Great job Phil.. that's right. Do what makes sense for that house and that location.
Great tour Phill lots of new knowledge! This video defiantly teaches you to see what needs to be done wheter for selling or renting. Right on!
You have the best advise god bless you
Thank you for this video. I ave learned a lot from. I wish you will do it again.
Many videos later and I'm still amazed and thankful for you sharing your knowledge. ☺
How to get a really detailed number that's wrong. LOL. Your thought process is refreshing and I like your teaching style. I LOVED the video on 7 things NEVER to tell a contractor! Learning the hard way is a luxury; many people are sunk by bad contractors...either because they never want to deal with another one, or because they are broke with lots more work to be done, plus errors to be corrected (switched materials, unfinished jobs leading to new problems, etc.) Thank you for sharing the wisdom of your experience. I appreciate your character.
Hello phil ,i am just getting started in flipping houses i was a contractor for 12 years so i will be doing 90 percent of the work myself..so my question is, i have heard i cannot write off my labor cost on my taxes.so if I'm flipping houses with a net profit of 20 to 35k then if i sell within a year i have to pay 25 percent capital gain tax IF AFTER A YEAR 15 PERCENT ,then the realtor fee of 6to 7 percent it doesn't seem like theres a lot of profit in it for all the work i will be coin since I'm coin the work myself.. the houses I'm looking at will be worth double what I'm paying but then you figure material, realtor fees ,taxes..if i get the house done in 2 to 3 months I'm goin to lose 10 percent to the government taxes selling before a year should i just rent these short term then sell later,, on a 30 k profit you pay realtor 6 to 7 percent 2100 then 7500 to uncle sam thats $$$ 9600 plus maybe a closing seems like a lot to pay out then only make 20 k for all that work ..so maybe i should rent these for 5 to 10 years then sell if i can afford to do it. another option is to market these myself for a few months and try to save on fees..illinois is my state of residence if that matters. thank you love your videos...
Thanks man
Phil, how did you acquire this property? If distressed, was the owner behind on payments? was it a short sale? foreclosure?
Thanks, DH
+jmua6 Seller was behind on payments and REALLY needed to sell it fast to get the cash to be able to cover some bills.
+Phil Pustejovsky awesome! wished I had a mentor like you!
+Phil Pustejovsky So Phil when you aquire a property like this through a seller who was behind on payments, are you taking over on the payments to the bank and basically are renovating to resell it or renting it to a tenant?
+gnewt75 Depends on the situation; usually renovating to resell but sometimes I hold onto them long term.
I got into real estate investing because of owning a dumpster rental business. Between 2008 and 2013 investors were calling me so much I became friends with them. LOL. Then I knew a TON of remodelers because they were always renting my dumpsters. Put 2 and 2 together and Voila!
Why does anyone make a countertop or backsplash out of MDF? I know its cheaper than plywood, but swelling from water is inevitable. I bought this MDF computer desk table new from Office Max 10 years ago and the spots where my arms rest are swelling because they've absorbed moisture off my arms over the years.
3:00 - 3:15
She said she was a hoarder
Yeahh she certainly is. Lmao
One trick I like is to remove vs replace. Example: my blinds have seen better days. Rather than replace them, I,’m just going to remove them. Done!
The point about Only going once is also critical. A friend of mine who I was going to hire came to look around without a measuring tape, then wanted to return just to measure ...I was like no… if You’re coming back again it’s to work.
That stack of Disney Black Diamond VHS tape is a fortune! Each worth up to $14,000! Just kidding.
If you buy a cheap manifold gauge (they are about 30-50$ on ebay) you can check pressures in the heat pump yourself and you'll know right away if there's a problem.
Maybe just use a pen and push on the shraedder valve (like a tire valve), and if nothing comes out, then the unit needs servicing for sure.
The garage sale from all the chattel will pay for the paint and rehab. LOL...Call American Pickers. That house looks great and easy fast rehab. On the outside assessment I look at the brick for diagonal cracks going along the wall. Its a huge red flag for a cracked foundation.
this is some scary shi*
ROFL!! That house is a disaster area! Yard sale for weeks! Yeah, Phil, do check out that breaker box. Don't break your foot on the way there! LOL
Don't be cheap.. replace that roof lol
I would want to be able to say it's a renovated house, and with an fha being most likely buyer who's going to have a home inspection, you have to look at it like you're at a home inspection with the buyer.. they renovated the house but left an old roof. On the front right you can see the shingles Starting to curl... I go back-and-forth with my contractors about this kind of stuff all the time. I look at it from a buyers perspective and they look at it from an investors perspective. If the numbers don't work the numbers don't work
You're videos are simply awesome. You are gifted to teach dum dums like me how to do things right. Thanks much and kind regards.
Phil,
This is Mary, one of your future mentees. Did the Lady who lived in that house actually abandon all of her belonging or is she coming back to collect them? Wow, I have never seen a house that cluttered before.
Hi,Phil.my name is Mohamed nur a minnesota Realtor over a decade and i,m a green invester, i gained a lot from your video and looking forward to connecting you in the future, thanks Mohamed nur.
1980 house trash out then hazmat evaluation. Asbestos must mitigate popcorn. Can your u
I love the way you teach, you are going to make me and others a money making machine keep listing at you.Thank you for that sir.God pless you!
Spend some of your money on either going to a tailor or buying the right size pants, ok?
+Bobby Shah Not a chance. What a waste of money.
+Phil Pustejovsky Agreed.
Its a good thing you didn't use Carlton Sheets, because that information is outdated as hell, and you wouldn't have been there getting a property to even see the videos. Its best he didn't open it up. I've learned more from people who trying to learn how to buy houses, than from Carlton Sheets.
Nice one again Phil!! :) Thank you.
Personally do you ever fix any of the repairs yourself or do you only deal with contractors when it comes to that?
+Lawrence Jones I don't ever pick up a hammer or do any repairs myself. I always hire others to do it.
great video. when you first started out in flips did you do any work yourself? how many projects do you typically have going at a time?
that master bedroom reminds me of a case I had. we had to evict tenants after nonpayment of rent and they had abandoned the place.
and when we entered the apartment with the marshal one of the bedrooms was filled almost to the ceiling with garbage bags! dirty diapers, food .. the smell was unreal. the rest of the apartment had junk everywhere. we had to hire a company to literally scrub every inch of the whole apartment!!
Lol, It would be pointless temperature wise but you could test if the ac even kicks on by putting a hair dryer on the thermostat I'd bet.
Great information, well presented. Thank you.
sheetrock over the wood , interesting fix. would take some serious corner bead....
Popcorn ceiling get the spray texture for touch ups is much easier to do folks don't paint that unless there was a smoker then you will have no other option.. re-texture if needed maybe a roller with texture and paint already in the mix then roll it on..
Who the hell lives like that! It’s too bad for the kids, HRS should find those kids and protect them. 😨
When he described the different elevation of the second room and did that step up with his foot ..why was that so funny to me.
I think the biggest cost in the whole house is removing all that garbage and paying for the people and the dumpsters lmaooooo
What the hell is the story with a home with toys, dishes in sink, etc. just vacated? It’s like someone fled into witness protection.
Phil, Any tips for evaluating the foundation, where to look what to look for?
I like that wallpaper.. a lot! Lol! Thanks for the videos!! Ur a Rockstar! :). :)
What’s the estimated cost for all the junk removal? Since last homeowner was a hoarder..
Six 30 yard dumpsters at $300 a piece plus labor.
I'm trying to imagine how much the trash removal will cost......