Hey James, First off this isn't any gas but let me tell you, we really are appreciative of the time and effort you guys put into these videos. A lot of times ppl think, "things just happen." You guys give and provide a wealth of information, especially for us newbies. I mean it's really invaluable. The care and accuracy of the information is a testament to you guys loving what you do. I want to give a sincere thanks to you guys, you do great work. Cheers🍻
@ProjectRE2 жыл бұрын
Hey Benny! I really appreciate the kind feedback. We all have to help each other and we will keep on the content!
@diegotheyorkie14202 жыл бұрын
True! Newbie here too in FL looking for properties to either flip or BRRR...good luck out there!
@ProjectRE2 жыл бұрын
@@diegotheyorkie1420 get after it 💪
@adolpholiverbush58672 жыл бұрын
Jesus Christ. Talk about someone full of SOOOO much knowledge and value.
@ProjectRE2 жыл бұрын
Thanks Zack!!!
@samanthajames3596 Жыл бұрын
by far the most helpful & educational video I've ever watched on buying a flip
@ProjectRE3 ай бұрын
Thank you!!!
@timbankes65562 жыл бұрын
This dude is a real estate hit job detective 🕵️. He knows how to observe what was done and guess why they did it.
@ProjectRE2 жыл бұрын
Ha! On the 👀 out!
@mystuff75442 жыл бұрын
This is the best walk through/inspection video I have seen.
@ProjectRE2 жыл бұрын
Thank you! Check out our KZbin page for similar ones!
@ProjectRE2 жыл бұрын
Hey BiggerPockets viewers! James here 🖐 Red flags everywhere! I hope you all enjoy this week's new episode 🙏
@avisocho2 жыл бұрын
Love it!
@ProjectRE2 жыл бұрын
@@avisocho Thanks for watching Troy!
@r.a.85902 жыл бұрын
This was a great video. Nice work!
@The1SimLash2 жыл бұрын
Excellent job breaking down the inconsistencies. I've noticed a lot of licensed people don't want to pull permits and deal with the city, so on the flipside you could have a really nice place that's up to code with no permits.
@yanickjimenez2 жыл бұрын
It as great! And veryyyyy scary 😬
@Lefthandedscorpio2 жыл бұрын
This was the best! Education first then a slow walk through with explanation. I’m looking for our first investment property, I’ve learned so much!
@ProjectRE2 жыл бұрын
thank you!!!!
@MrDraxz Жыл бұрын
My god man, Would be scared to bring ya to my a couple of my houses in the North East lol. Jerry Rig is the game up here.
@craigpfeffer43692 жыл бұрын
Awesome!!! Such valuable information. Thank you.
@ProjectRE2 жыл бұрын
thanks Craig!
@ChristopheLimpalair2 жыл бұрын
Super valuable and helpful. Thanks so much
@ProjectRE2 жыл бұрын
Thank you!
@TommyP01632 жыл бұрын
This video is pure gold! Thanks for the info and please keep it coming 👍
@ProjectRE2 жыл бұрын
Thanks Tommy!
@nadegerichard62132 жыл бұрын
Awesome video!!! 👍🏾 I learned SOOOO much. Thank you.
@ProjectRE2 жыл бұрын
No problem, thank you for watching!! 💪
@yooniecho63942 жыл бұрын
Thanks James for this insightful content. Eye-opening and substantive.
@ProjectRE2 жыл бұрын
Thank you Yoonie!
@yonmoore2 жыл бұрын
Great video. My two cents is that licensed professionals are still learning on the job, and while hiring them lowers your chances of having issues, it's still no guarantee. Overall fantastic information.
@ProjectRE2 жыл бұрын
We buy everting on no inspection, but newer people should definitely higher a progressional if they are new or not comfortable with the scope of work.
@tadehmirzakhanian8932 жыл бұрын
@@ProjectRE I bought two duplexes but I cannot possibly take the risk and buy without an inspection…still new
@drewangell14572 жыл бұрын
Thanks! This is the type of video that will get you more and more views because it's a good one to keep coming back to. Please, make more of this style content. :)
@ProjectRE2 жыл бұрын
Thanks drew!
@BooGualla1 Жыл бұрын
nice video! you should make one showing us how you came out still making money on the property !!
@edwinmachado79642 жыл бұрын
There’s so much information on this video 🤯 thanks!!
@ProjectRE2 жыл бұрын
Thanks Edwin!
@PiyushJaybhayeMusic2 жыл бұрын
from that extra box of a room someone can dive straight into the pool lol
@ProjectRE2 жыл бұрын
easy access haha
@netsiwselarch5538 Жыл бұрын
Great content!
@ProjectRE3 ай бұрын
Thanks!
@TheWorldFromFerg2 жыл бұрын
Im a critic of bigger pockets but I really found great value in this video, thank you.
@ProjectRE2 жыл бұрын
Thank you!!!!
@kukuna20122 жыл бұрын
Hi James, what a phenomenal video. cut to the point without wasting any time. Do you have the video after the revelation? I am curious how it turned out? and how much did it cost compared to the initial budget? thank you so much!
@ProjectRE2 жыл бұрын
check us out on Project RE youtube and you will see!
@b.michaelbrown1117 Жыл бұрын
James is the. Chef ramsey of fix and flips
@aldiaz51402 жыл бұрын
Excellent video, and extremely helpful. You better believe I will be doing the shake and kick test going forward!
@ProjectRE2 жыл бұрын
Appreciate the feedback and thankful this video was useful for you Al! 🙏
@casey.connors Жыл бұрын
I have never shaken my head or laughed so hard at one of his videos. Great stuff, the key is in the details! Did he find a TON of things wrong with this, yeah, but with the right offer - he can make this house work financially on paper with the purchase price and rehab costs. Great job!
@yonmoore2 жыл бұрын
The bit about looking for lag bolts that attach the deck to the house - a good friend of mine had his deck collapse while he was grilling because no lag bolts were used for the ledger board. Thankfully he recovered from a concussion and burns from his grill falling on him when his deck collapsed.
@ProjectRE2 жыл бұрын
Building decks with no engineering…. Dangerous.
@bikingwithmykids73582 жыл бұрын
Thanks for this great and through video. Would be cool to see the house when it all fixed up in another video.
@ProjectRE2 жыл бұрын
We will post on ProjectRE KZbin!
@nickludwiczak11662 жыл бұрын
Thank you James. You might be my favorite bigger pockets person, besides Brandon Turner of course.
@ProjectRE2 жыл бұрын
Thanks nick!
@doppelgangerprinting42352 жыл бұрын
Great video even as an experienced contractor. I 2nd the oil tank issue, unexpected soil contamination can cost an extra $20k easy.
@ProjectRE2 жыл бұрын
Always get plia insurance!
@alhent2 жыл бұрын
This was eye-opening!
@ProjectRE2 жыл бұрын
Thanks Andrew!
@johnhanselman63712 жыл бұрын
Super gluing a door to the brick, lol. Definitely water damage in the basement. They raised the electrical outlets because of the wet basement. lol .
@sounddepth2 жыл бұрын
Not gonna lie… you have the best videos on this channel rt now!
@ProjectRE2 жыл бұрын
Thank you! Feel feee to share!
@alanswanson19522 жыл бұрын
I don't think I have ever saw a house that hacked up and I live in an area where a lot of vacation homes have been converted to full time. My last one built in 1945 was not that bad and I still completely tore it down to studs and re did the electrical plumbing and insulation.
@ProjectRE2 жыл бұрын
There is always a worse one out there… 😂
@Mrmike7102 жыл бұрын
Very informative 👏 👌 👍
@ProjectRE2 жыл бұрын
Thanks!
@ezmoney63412 жыл бұрын
Excellent video thank you for sharing your knowledge.
@ProjectRE2 жыл бұрын
Thank you!
@RobWilliams0072 жыл бұрын
This was excellent!
@ProjectRE2 жыл бұрын
Thank you!
@Xanthrochroid2 жыл бұрын
22:00 There are code minimums for distance between outlets, no requirement that they be evenly spaced. More important in the kitchen is that outlets be GFCI units within a code specific distance of the sink, and any installed in bathrooms must be GFCISs.
@ProjectRE2 жыл бұрын
Exactly!
@johnpdd2 жыл бұрын
3 ft rule on counters. Any counter appliance should work with a 3 ft cord. 6 ft rule on floors.
@101realtor2 жыл бұрын
Also, the older the home, especially if it’s not been updated, the less likely you are to find any logic or rules around spacing
@tdf123emcee22 жыл бұрын
Thanks for this!!! I want to get into flipping houses, I'm still saving up for capital but learning in the process this is so much info thanks!!!
@ProjectRE2 жыл бұрын
You’re welcome!
@erving123a2 жыл бұрын
This dude is legit. More vids please!
@ProjectRE2 жыл бұрын
Thank you!!! More to come!
@jamesdainard42422 жыл бұрын
Thanks!
@vivianlandrum85072 жыл бұрын
Thank for the walk thoughts. Very helpful.
@ProjectRE2 жыл бұрын
You’re welcome Vivian!
@careya Жыл бұрын
Another tipoff is molding installed upside down or the wrong type used (baseboard used where case should be used). And missing GFCI outlets. And drywall flush with door moldings.
@falsificationism2 жыл бұрын
Wooooooooooah that house. Almost as if they built it to be the perfect example of what not to do. Learned so much from this. Thanks!
@ProjectRE2 жыл бұрын
Thank you!
@kendigjl2 жыл бұрын
So glad I found this channel, as I'm looking forward to making my next investment decision in September of 2022 and will possibly go "all in" cash wise with every nickle I have in order to get more leverage. Thinking about things like the square footage matching the permitted square footage is going to help avoid getting myself into trouble.
@jamesdainard42422 жыл бұрын
Good luck on the purchase!!!
@Tayy2 жыл бұрын
How did that work for you?
@jeffdorris53212 жыл бұрын
Nice work 🎆
@ProjectRE2 жыл бұрын
🙏🏻
@thesuccessfulimg68852 жыл бұрын
This is great!
@ProjectRE2 жыл бұрын
Thank you!
@gjmbarusha69992 жыл бұрын
Dang, basically that house is a tear down….Tom Hanks approves the rehab tho.
@ProjectRE2 жыл бұрын
It’s fixable!
@Ceoguywithai2 жыл бұрын
This raises so much of genuine curiosity to understand the flow of Any house. Please recommend some literature to get an idea of what the norm should be . Great Video as always. Thanking James again for his invaluable inputs. Looking forward.
@ProjectRE2 жыл бұрын
Really depends on the style of home. Do you have specific flow questions?
@Ceoguywithai2 жыл бұрын
Is a focal point important to tie up a room together? Do you like partial walls in bigger rooms? What's your Aesthetic philosophy that you take as a benchmark while working?
@yonmoore2 жыл бұрын
I'll chime in. I would say that noting the "flow" of a home is more of an art than a science. The way I define it is whether or not I see anything weird. And by weird I mean walls odd sized and shaped spaces, spaces that don't seem to have much of a purpose, and that sort of thing. It's a little bit difficult to define. But I feel like I also need to point out that a good deal is a good deal and as a rental, for the right price (which will be slightly lower if it's "weird") people will be happy to live there and pay rent every month if the place is clean and well maintained.
@gyo14392 жыл бұрын
God damn, this house makes me feel alot better about the stuff I DIY
@ProjectRE2 жыл бұрын
😂. Me too!
@dhowto30052 жыл бұрын
Thank you.
@ProjectRE2 жыл бұрын
🙏🏻
@joerandom2 жыл бұрын
So in terms of budget and potential profit, given what you paid for the property and all the issues that need to be done, is this specific property profitable after all the expensive to fix it and by how much can you profit?
@ProjectRE2 жыл бұрын
As long as you account for all the issues it can be. We factored to redo everything.
@ProjectRE2 жыл бұрын
We run everything on a 6 month basis, we target 35% cash on cash return. Longer the project we adjust the expected return.
@Tresador2 жыл бұрын
Sheesh! Might as well build a house! My goodness!
@ProjectRE2 жыл бұрын
Ha, we basically do on the inside walls.
@Nick-qv3zg2 жыл бұрын
Lmfao man that house is something special. A bunch of guys drinking beer just nailing sh*t together!
@ProjectRE2 жыл бұрын
For sure! Ha
@evgenyonishkevich84942 жыл бұрын
Woow whata project! Great content!
@ProjectRE2 жыл бұрын
Thank you!
@RichardSilvius2 жыл бұрын
This was fascinating... but this house seems to have so many issues... how will this be profitable for you?
@ProjectRE2 жыл бұрын
All based on the the discount to market. Buying a fixer is ok - as long as you account for the work.
@RichardSilvius2 жыл бұрын
@@ProjectRE I guess what confuses me is you seemed to say in the video you had already agreed to close on the house before discovering how bad the issues were. So was the price just so amazing that you knew going in you’d be able to make money even if you had to spend tens of thousands more than you anticipated?
@johnpdd2 жыл бұрын
40:20 you could add a beam under the deck next to the house that would support it.
@ProjectRE2 жыл бұрын
Still needs to be lag-bolted to get it to code. Footings would need to be upgraded as well.
@johnpdd2 жыл бұрын
@@ProjectRE Beam could be bolted into the house framing. There might be an issue of interfering with the windows.
@smoothdahustla97292 жыл бұрын
Sadly, that reminds me of the rental I'm living in and also of something my family members would do to their house thinking it will raise the value of their house.
@thesuccessfulimg68852 жыл бұрын
Would love to see what happened to this house!
@ProjectRE2 жыл бұрын
We will post updates on our channel!
@JakeRichardsong2 жыл бұрын
Helpful, thanks.
@ProjectRE2 жыл бұрын
🙏🏻
@MattLaughs2 жыл бұрын
Would a home inspector go through the efforts to pull permits and verify all renovations were permitted? To my knowledge, inspectors are required to catch literally everything weird with the house.
@mapuche8882 жыл бұрын
I've never had a home inspector pull permits. I'd rather have a contractor inspect.
@101realtor2 жыл бұрын
Inspectors are pretty much visual only. Better to higher a contractor who is very knowledgeable about code if you want this level of detail. I want to say a majority of homes in CA have non-permitted items just because permits here are such a pain the a** to obtain and time consuming. Most clippers lose a lot of money doing thing the proper way. Wish more would though!
@bellad106311 ай бұрын
When he said let’s check out the basement.. 😮 wait there’s more?!
@sherrynichols25702 жыл бұрын
Outlets at that 48" height tell you that was at one point a garage... thats the required height for a garage.
@ProjectRE2 жыл бұрын
Great tip!
@dontbuyprelude2 жыл бұрын
no its not. the only requirements for garage outlets are they must GFCI protected, at least one outlet per car/bay, and can not be installed higher than 5.5ft up the wall.
@Xanthrochroid2 жыл бұрын
‘Home’ inspectors vary enormously in the actual value they offer. The woman who inspected the first house I bought (to satisfy the lender) was clueless. Per her contract, she didn’t look at the roof, in the attic, or move any furniture, which meant she missed a great number of faults. Consider hiring someone who knows construction, but without a vested interest in finding things in need of repair; e.g. an architect.
@ProjectRE2 жыл бұрын
Agreed!
@alparun45712 жыл бұрын
Lol...never trust women on home inspection and men on babysitting
@tj-18542 жыл бұрын
@ 31:15 look at the bottom of the door behind James.
@ProjectRE2 жыл бұрын
😂 good catch!
@ryansatchell23022 жыл бұрын
Anyone else laugh their ass off the whole time? LOL This dude doesn't play. "Come look over here. Yea this isn't done well at all, probably had a few beers and put this together with his buddies on the weekend. Yea we're going to have to redo everything. Weekend warriors". lmao
@ProjectRE2 жыл бұрын
😂 all true 🍺 🏠
@MrNemitri2 жыл бұрын
I liked this video, however, where I live, the houses are completely on concrete, not wood, still, very informative what to look out for in houses.
@ProjectRE2 жыл бұрын
Each geographical locations have their own issues! Got to be on the look out for issues in your local market
@buddyrevell5119 ай бұрын
Was this house built or remodeled like this intentionally, for educational purposes? It's so bad it almost has to be that.
@ProjectRE3 ай бұрын
😂😂😂
@Nick-qv3zg2 жыл бұрын
"And here's yet another telltale sign" ...lmao
@ProjectRE2 жыл бұрын
😂
@buildingAbiz2 жыл бұрын
This was like the ULTIMATE house to make this video on lol wow... its like everything that someone could have hacked together was actually tried out on this one😅
@ProjectRE2 жыл бұрын
Ha! Seriously!
@svadlakonda2 жыл бұрын
Where can get the sheet to follow?
@ProjectRE2 жыл бұрын
I will post the info on my KZbin channel!
@zevweisdorf66832 жыл бұрын
This is a nightmare, watching this Spiked My cortisol
@ProjectRE2 жыл бұрын
Welcome to my life 😂
@huckleberryfinn8795 Жыл бұрын
They superglued a post to the wall 😂😂😂
@bellad106311 ай бұрын
Why am I having anxiety and I’m not buying anything?
@ProjectRE3 ай бұрын
Just don’t buy this one 😉 😊
@Needhelp2819 ай бұрын
Answer is D
@ProjectRE3 ай бұрын
Demo
@Adrian-yi8fl Жыл бұрын
I bet the Weekend Warriors wife shows him this video and goes "See? I-told-you-so!"
@kevinruiz81602 жыл бұрын
Just because the floors aren’t all the same height doesn’t necessarily mean that it’s wrong and needs to all be torn out .
@ProjectRE2 жыл бұрын
To hit the price we are targeting it is. All depends on the plan.
@richardrowe15382 жыл бұрын
In reality, if I found additional square footage added to the house without a permit, I will not pay for that square footage in my purchase agreement. Unpermitted square footage really has little or no value.
@ProjectRE2 жыл бұрын
Agreed, you should always buy on the present structure but run the proforma on the stabilized
@JakeRichardsong2 жыл бұрын
The shake test and the pole falls over, rofl. OMG what owner does that?? Fake poles?
@ProjectRE2 жыл бұрын
😂
@youtubecarspottersguide12 жыл бұрын
cheap skates flips .quick cheap unpermited flip and run. first thing I notice is no fridge its $1000 it matches the rest of the appliances
@ProjectRE2 жыл бұрын
Was a long term rental!
@youtubecarspottersguide12 жыл бұрын
@@ProjectRE I have fridges in all my rentals one has a washing machine left by a tenent
@dudewheresmyguitar212 жыл бұрын
Ok but why can they sell YOU the house as is but you need to do everything to code fir you to sell…?
@ProjectRE2 жыл бұрын
Off market as is sale. Sold at a discount. All comes into play.
@dudewheresmyguitar212 жыл бұрын
@@ProjectRE got it 👍🏼 was just curious what the deal was! Thanks man
@terryzdallas2 жыл бұрын
This guy could never make money on a rehab. Never. If he was around me he would drive me crazy.
@ProjectRE2 жыл бұрын
still practicing ha
@TheNathanBorgman5 ай бұрын
who is doing rewires for under $5sqft? thats incredibly low
@ProjectRE3 ай бұрын
That’s just for rough in. We have a dozen that do it for that. Panels, lights, trim out are separate
@priestesslucy2 жыл бұрын
Ugh, city permitting is the dumbest thing in real-estate.
@ProjectRE2 жыл бұрын
Can be soooooo painful. They could improve this x10
@kaylag.8411 Жыл бұрын
Just tear it down 😂
@ProjectRE3 ай бұрын
It’s fixable!
@nellosnook44542 жыл бұрын
I’ve seen horror movies that were less scary than this house. How could such incompetent people come to own such a huge house only to screw it up so badly?
@ProjectRE2 жыл бұрын
Ha! They were trying to be Bob Villa…
@nervousstranger2 жыл бұрын
Weed+construction supplies=this house.
@ProjectRE2 жыл бұрын
😂 seriously!
@Wannakatana21122 жыл бұрын
Don't you get or do a house inspection?? How could you buy a falling down house without knowing? LOL
@ProjectRE2 жыл бұрын
We don’t! I prefer to inspect myself
@laotzu11112 жыл бұрын
What a nightmare house lol
@ProjectRE2 жыл бұрын
Everyday life for me 😂
@abefma13582 жыл бұрын
I think the biggest lesson to learn here is not necessary to worry about if the proper permits were pulled. Rather, don't do business in woke liberal cities where the government squeezes TF out of business owners. Not every city is up entrepreneur's as* like Seattle is.
@ProjectRE2 жыл бұрын
Tough city for permits.
@bldfinancial2 жыл бұрын
🔥🔥
@ProjectRE2 жыл бұрын
Thank you!
@intewiseinvesting1842 жыл бұрын
If "tear the whole house down" was a person😂😂😂😂😂😂. So basically you're saying you have to redo the whole house lol.
@ProjectRE2 жыл бұрын
She needs a little love 😂
@melaniegenuinely2 жыл бұрын
@@ProjectRE 😂😂😂😂😂😂😂
@melaniegenuinely2 жыл бұрын
@@ProjectRE you are a very thorough individual. I appreciate ya.
@peterfinfrock23772 жыл бұрын
They built it good enough... because you bought it.
@ProjectRE2 жыл бұрын
I’ll buy anything at the right price!
@RagnarLothbrok22222 жыл бұрын
Why not just hire a professional inspector?
@ProjectRE2 жыл бұрын
You should if your newer. Personally, I feel confident in discovering the issues and possibly catch more than an inspector.
@johnpdd2 жыл бұрын
Someone had just enough skill to cause trouble.
@dumpsterfire63512 жыл бұрын
That house is a MESS
@ProjectRE2 жыл бұрын
Completely, but so much potential!
@idontevenknow2322 жыл бұрын
Omfg. So much money poured into materials wasted. Wow.
@ProjectRE2 жыл бұрын
I think a lot of them were bought at a scratch and dent 😂
@OracleMoon2 жыл бұрын
This house was renovated using KZbin 😭
@ProjectRE2 жыл бұрын
😂
@stephengilstrap2 жыл бұрын
Wow that house has a huge list of bad mistakes. Ill pass
@ProjectRE2 жыл бұрын
All depends on price! Everything is fixable!
@zayzay1ize2 жыл бұрын
Omg, this house sucks, I rather buy a potential full remodel then have to fully remodel someone else's weekend warrior crap.
@luckyfoot22 жыл бұрын
I’m a weekend warrior, AND I KNOW I could do better than this
@ProjectRE2 жыл бұрын
Ha, I’m not and I think I could too!
@eudygomez67662 жыл бұрын
🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩
@ProjectRE2 жыл бұрын
😂
@kingfratetrain76342 жыл бұрын
Who actually upgrades their house on the weekends for fun 😂 this is like if ricers built homes instead of cars