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Forum » "Remodeling/updating" a house is the biggest waste I ever heard of
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Thread: "Remodeling/updating" a house is the biggest waste I ever heard of

post 1686706113 07-17-2023, 08:25 PM
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#31
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Originally Posted By Anachron⏩
Interesting.

So you went from not remembering how many investment properties you have, to making money flipping houses, yet you claim to have never worked a day in your life.

It all makes sense, including the part where you advocate for letting one's extended family take on the expenses of raising your 8 year old daughter, because you can't even afford that.
Do something you love and you'll never have to work a day in your life. Eddie loves to cope.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1686706233 07-17-2023, 08:28 PM
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Originally Posted By r32gojirra⏩
I do demolition/subdivision and new builds as opposed to remodels. But if I had less capital available to me, and more free time, I would do renovations.
It sucks brah, I get calls from people asking us to sell so they can do the same. Big lot, old property. They can make at least 2 "mansions" out of the place. But I get it, it's straight bank and you're playing the game and winning. So I'm happy for you srs.
post 1686708783 07-17-2023, 09:32 PM
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#33
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Man the fraudcels are on a roll this week
post 1686708843 07-17-2023, 09:33 PM
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#34
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If it’s rotted or rusted it’s got to go
post 1686709103 07-17-2023, 09:40 PM
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Considering how poorly built most american houses are I have to agree, They're borderline disposable, On the rest of the world, if a building is made of either, masonry, brick, or concrete it's easier and economically viable to remodel a house since its more durable.

I mean just fuken lol @ this i'ts just a fuken stick house



Compared to more durable houses, the standard in literally third world countries.




And true gigachads live in stone masonry houses


post 1686709233 07-17-2023, 09:43 PM
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Originally Posted By Mrstealyogurl89⏩
If it’s rotted or rusted it’s got to go
I agree there -- if something's rotted or rusted fix it.
post 1686709303 07-17-2023, 09:45 PM
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#37
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Originally Posted By eddiehaskell⏩
LOL at people that spend a bundle remodeling to make their house look cookie cutter and "increase the value" yet they sell it 10-15 years later when their remodel crap isn't even in style anymore....and wears out faster than the original stuff the house came with.
Trust me pal, a style like that with proper design will never go out of style. IT would actually increase its value. I lterally do that for a living and having a unique and well designed space will greatly increase its value.
post 1686709903 07-17-2023, 09:57 PM
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#38
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What's funny is when people do little things to their home and think they increased the value to the point that it pays for itself. No, putting in a 25K kitchen does not increase the value of your house 30K+. Yes it will help you get a better price but not like you think. 90% of your home's value is LOCATION, and then size, then functionality.
post 1686709993 07-17-2023, 10:00 PM
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#39
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Originally Posted By suave2000⏩
Trust me pal, a style like that with proper design will never go out of style. IT would actually increase its value. I lterally do that for a living and having a unique and well designed space will greatly increase its value.
probably increase the value even more if all that is done a few months before you sell and it looks brand new. plus you get all the profits from having invested that money 10 or 20 years prior.
post 1686710033 07-17-2023, 10:00 PM
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Originally Posted By Jasonw1178⏩
What's funny is when people do little things to their home and think they increased the value to the point that it pays for itself. No, putting in a 25K kitchen does not increase the value of your house 30K+. Yes it will help you get a better price but not like you think. 90% of your home's value is LOCATION, and then size, then functionality.
Well this simply just isn't true. You can definitely increase the value of your house by updating kitchen/bathrooms/flooring. It's literally one of the core concepts behind house flipping lol

Market dependent yes but to say it doesn't exist is delusional
post 1686710273 07-17-2023, 10:11 PM
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#41
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Originally Posted By Jasonw1178⏩
What's funny is when people do little things to their home and think they increased the value to the point that it pays for itself. No, putting in a 25K kitchen does not increase the value of your house 30K+. Yes it will help you get a better price but not like you think. 90% of your home's value is LOCATION, and then size, then functionality.
I do sometimes see this. For example a house that's totally remodeled going for $400k and one down the street all original going for $350k with all major systems up to date/nothing broken. Say the person spent $50k to create their now soulless abomination...they may profit close to nothing...maybe net negative. Personally, I'll take the all original house that still has character and isn't someone else's idea of "modern". Granted, I like homes where the inside and outside match the time period they were constructed.
post 1686710353 07-17-2023, 10:15 PM
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Originally Posted By BigDeeps01⏩
Well this simply just isn't true. You can definitely increase the value of your house by updating kitchen/bathrooms/flooring. It's literally one of the core concepts behind house flipping lol

Market dependent yes but to say it doesn't exist is delusional
The core concept of flipping is first obtaining a house for as much under market value as possible. Then have a crew (or yourself) that can do the work for as cheap as possible to meet what the masses consider desirable. An average homeowner that isn't into flipping is paying retail prices for the work they have done.
post 1686710453 07-17-2023, 10:19 PM
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#43
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Originally Posted By eddiehaskell⏩
The core concept of flipping is first obtaining a house for as much under market value as possible. Then have a crew (or yourself) that can do the work for as cheap as possible to meet what the masses consider desirable. An average homeowner that isn't into flipping is paying retail prices for the work they have done.
Yes to the first point. Not necessarily true at all to the second point. I sell houses to flippers all the time, and a lot of them are contracting the work out because it's the only way to scale. Lol at thinking you can flip 10, 20 50+ houses a year doing all the work yourself, these guys have multiple crews

Sometimes homeowners are paying retail prices, sometimes not. Even at retail prices, a lot of them are profiting off kitchen/bathroom remodels
post 1686710583 07-17-2023, 10:21 PM
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#44
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Originally Posted By BigDeeps01⏩
Well this simply just isn't true. You can definitely increase the value of your house by updating kitchen/bathrooms/flooring. It's literally one of the core concepts behind house flipping lol

Market dependent yes but to say it doesn't exist is delusional
Many people lack any cash, they are relying on the bank to finance their purchase, so they don’t have cash to spend on renovations

So they might not be able to “afford” a 350k house that needs $50k work, however they can “afford” a $400k house that is “turn key”.

Also a lot of people don’t want the hassle and risk of dealing with contractors etc

Other times it might just mean the difference between selling and not selling

Younger buyers are not willing to take on projects/fixer uppers at all
post 1686710643 07-17-2023, 10:24 PM
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#45
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Originally Posted By BigDeeps01⏩
Yes to the first point. Not necessarily true at all to the second point. I sell houses to flippers all the time, and a lot of them are contracting the work out because it's the only way to scale. Lol at thinking you can flip 10, 20 50+ houses a year doing all the work yourself, these guys have multiple crews

Sometimes homeowners are paying retail prices, sometimes not. Even at retail prices, a lot of them are profiting off kitchen/bathroom remodels
You said it yourself -- they have crews and economies of scale in their favor. A flipper and average homeowner are different breeds.
post 1686710663 07-17-2023, 10:25 PM
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#46
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Originally Posted By eddiehaskell⏩
You said it yourself -- they have crews and economies of scale in their favor. A flipper and average homeowner are different breeds.
Even an average home owner that buys an out dated house for $400k, puts $70k into it and resells in a few years for $550-$600k will profit. I see it all the time
post 1686710783 07-17-2023, 10:28 PM
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#47
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Originally Posted By r32gojirra⏩
Many people lack any cash, they are relying on the bank to finance their purchase, so they don’t have cash to spend on renovations

So they might not be able to “afford” a 350k house that needs $50k work, however they can “afford” a $400k house that is “turn key”.

Also a lot of people don’t want the hassle and risk of dealing with contractors etc

Other times it might just mean the difference between selling and not selling

Younger buyers are not willing to take on projects/fixer uppers at all
That's a good point -- many homeowners are financing renovations at whatever percentage...7, 8, 9%. Some are even using credit cards to fully or partial fund the reno. This same money invested and compounded for however many years could have them losing money, breaking even or minimal profits.
post 1686710923 07-17-2023, 10:32 PM
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#48
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Originally Posted By BigDeeps01⏩
Even an average home owner that buys an out dated house for $400k, puts $70k into it and resells in a few years for $550-$600k will profit. I see it all the time
yeah that was only during the housing bull run. not all the time buddy
post 1686710943 07-17-2023, 10:32 PM
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#49
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Originally Posted By BigDeeps01⏩
Even an average home owner that buys an out dated house for $400k, puts $70k into it and resells in a few years for $550-$600k will profit. I see it all the time
Yes, it can happen if they got a good deal on the purchase price. But in today's market why wouldn't someone just outbid them and pay $450k...and then spend that same $70k...or even $500k and live in it the way it is knowing they can slowly make repairs as the value increases even more with time.
post 1686710973 07-17-2023, 10:34 PM
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#50
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Originally Posted By bicmane102⏩
yeah that was only during the housing bull run. not all the time buddy
Yeah, that was like shooting fish in a barrel up until fairly recently. Now everyone and their momma is into the flipping game. I get 4-5 calls daily looking to buy homes I own.
post 1686711013 07-17-2023, 10:35 PM
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#51
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Originally Posted By eddiehaskell⏩
Yeah, that was like shooting fish in a barrel up until fairly recently. Now everyone and their momma is into the flipping game. I get 4-5 calls daily looking to buy homes I own.
strong troll lol
post 1686711203 07-17-2023, 10:39 PM
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Originally Posted By bicmane102⏩
yeah that was only during the housing bull run. not all the time buddy
We shall see, I'm still seeing it now

Housing prices are getting back close to the peak in many markets
post 1686711353 07-17-2023, 10:42 PM
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#53
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Originally Posted By BigDeeps01⏩
We shall see, I'm still seeing it now

Housing prices are getting back close to the peak in many markets
my buddy is a real estate investor, he bought a place a year or 2 ago, fixed it up, sat on the market for a bit, ended up selling for zero profit.

this is Hawaii, some of the primest real estate in the US
post 1686711373 07-17-2023, 10:42 PM
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#54
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Originally Posted By eddiehaskell⏩
Yeah, that was like shooting fish in a barrel up until fairly recently. Now everyone and their momma is into the flipping game. I get 4-5 calls daily looking to buy homes I own.
Lmao

Imaginary phone calls to buy imaginary homes
post 1686711433 07-17-2023, 10:44 PM
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Originally Posted By r32gojirra⏩
Lmao

Imaginary phone calls to buy imaginary homes
ok
post 1686711573 07-17-2023, 10:46 PM
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#56
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Originally Posted By bicmane102⏩
my buddy is a real estate investor, he bought a place a year or 2 ago, fixed it up, sat on the market for a bit, ended up selling for zero profit.

this is Hawaii, some of the primest real estate in the US
who knows what old buddy did...could've overpaid for the house...the repairs or totally overestimated the selling price.
post 1686712723 07-17-2023, 11:23 PM
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Originally Posted By bicmane102⏩
my buddy is a real estate investor, he bought a place a year or 2 ago, fixed it up, sat on the market for a bit, ended up selling for zero profit.

this is Hawaii, some of the primest real estate in the US
Well yes, anyone that sold during the dip likely sold at no profit or even a loss. Ask him how he did all the time leading up to that, or ask him in 3-4 months about anything he's bought recently

You no avi fraudies REALLY don't want to get into this real estate investor thing with me. It's literally my business and you will get exposed
post 1686713383 07-17-2023, 11:43 PM
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#58
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Originally Posted By BigDeeps01⏩
Well yes, anyone that sold during the dip likely sold at no profit or even a loss. Ask him how he did all the time leading up to that, or ask him in 3-4 months about anything he's bought recently
was doing extremely well the previous years, like most flippers/investors. he thought he was gonna profit hundreds of thousands from this sale. 2M+ home.

he just finished up another place and put it on the market recently, so well see what happens
post 1686713723 07-17-2023, 11:58 PM
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#59
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Originally Posted By bicmane102⏩
was doing extremely well the previous years, like most flippers/investors. he thought he was gonna profit hundreds of thousands from this sale. 2M+ home.

he just finished up another place and put it on the market recently, so well see what happens
Any flipper understands the risk and knows that losses are to be expected during a market correction

All the big flippers I know (20+ deals a year) have sold everything they bought during the peak and are buying like crazy right now because they know the trend is going back up and they can still get cheap deals now
post 1686713833 07-18-2023, 12:03 AM
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#60
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It is completely driven by vanity and female emotions
While completely financed by cuck husbands
Lmao @ normies and their pathetic lives srs
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