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.
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🍻
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.
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.
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.
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.
‘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.
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. :)
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!
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.
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.
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.
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!
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.
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!
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.
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.
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?
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.
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.
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?
@@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?
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😅
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
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?
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.
