Gut renovators question

My husband and I continue our search for a home in Bed-Stuy and keep coming across more and more of the *gasp* flipped houses from places like Massada, Extreme Homes etc. We have been looking for about a total of 8 months and look at anything that comes on the market fitting our criteria for rental income and selling price (which isn’t a whole lot). Over those eight months we have seen the gradual improvement of SOME of these rennovated homes (real wood doors, higher end appliances etc) but we have never gotten to an inspection point with one of those properties. Can you tell me besides ripping out original detail (which we agree stinks) could be potentially wrong with the homes that an inspector would not see?

kellyj

in Construction 12 years and 7 months ago

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BSDOD | 12 years and 7 months ago

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If you catch the property before the demo, you may be able to inspect the progress of the reno through the entire process.  No home  purchase is without risk, but at least youknow what’s behind the walls…some Massada developers will work with you.  obviously not for everyone

brokelin | 12 years and 7 months ago

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If everybody just refused to buy these ridiculous, cheaply and horribly gut-renovated brownstones, the market for them would dry up, and the flipper companies would just stop doing them and go mess up houses elsewhere.  Just stop looking at them, please!

greenmountain | 12 years and 7 months ago

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Bathrooms.  Shower stalls.  Tub surrounds. Tile around the kitchen sink.  I see water damage and mold, gobs of caulk, cracked and loose tiles in cheap and expensive renovations.  The usual method (directly tile over porous substrate) is neither effective, visible, nor mentioned by inspectors. Flippers won’t spend any extra money where water absolutely-must be controlled and where the value is highest.  Even expensive tile and fixtures are no indication of water control.   New tiles may shed water, but grout is porous.  If you need to caulk, “seal,” or “regrout,” it’s too late.  Water seeps through and rots the same old places.  Mention “waterproof membrane” (which could have been installed under the tile) and you will get a blank stare.  But would you mention it?  Would your inspector? If it were a roof leak, they would, but not this. Good question.  Yes, this is self promotion, but I want fewer calls from ‘stoners with “newly renovated bathrooms.”  You can find me in the directory under shower stalls.  Green Mountain.

GentrifySideEye | 12 years and 7 months ago

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Cautionary tale for you about Massada. Two years ago while searching with my broker we came upon a property they were gut renno’ing. My broker found it odd that there were no dumpsters outside. The Massada broker kept stressing that they would renno the home to my specifications and he kept coming back to this point to the degree that I felt like he was attempting to use it as a carrot of sorts to keep me interested. My broker on the other hand who is a seasoned RE vet kept asking questions about the C of O and such and the Massada broker kept getting annoyed. The Massada broker suggested we sit down with his boss. When my broker kept pressing them on the C of O issue we were essentially kicked out of their offices after the mood became tense when they no longer wanted my borker to speak on my behalf and only wanted to deal directly with me. In short, i learned from my broker that they renno and do not change the C of O despite the interior changes. With regard to insuring the property, if anything were to happen and the property is damaged, your insurer can refuse to cover the damages if the C of O does not match the home you actually purchased.

rh | 12 years and 7 months ago

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Although I don’t agree that lack of permits is necessarily a red flag (I try to avoid the red tape and extra expense myself but always work to code), I would be highly suspect of fast flips from these companies. From personall experience, I’d say that 85% of homeowners and/or flippers lack the integrity to do the right thing before covering the problem with a bandaid. I’ve uncovered horrible things in 5 out of 5 of my renovations. If you can find a fixer upper and wouldn’t mind living through a restoration project, you would at least know what you’re getting. On the other hand, you really need to know something about home improvement so you know that your contractors are doing the right thing. The finishes don’t tell you the full story but you can get some kind of idea of the work quality by the end product. If it’s sloppy… uneven grout, globs of caulk, sheetrock seams showing, molding that doesn’t line up….stay away.

berniceshola | 12 years and 7 months ago

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In a gut-renoed flipped house? Almost anything could have been short-cut or done wrong, or be hidden behind a fresh layer of drywall. Did they get permits and inspections for all the plumbing, electrical, structural work they did? If not, that would be a red flag.