Have you heard the “I can teach you how to successfully flip houses” commercial on the TV or radio? If you have thought about signing up, first think about this.

Whether renovating a home for your personal use or flipping one for an investment, there are 9 things you absolutely need to know or have, in order to successfully complete a project.

This project was very exciting because it set in motion other renovations that transformed the neighborhoods look. I took great pride in it’s success.

These are the rules I used to make this, and other projects, successful in every respect.

1. Finance: Cash, or a sufficient line of business or personal credit to renovate. And add the ability to financially withstand the projected time required to renovate, plus a 90 day sale period.
2. A property that’s bought right, and located right: Pay too much for a property and you will sink your finances. Buy one with a bad location and your price and time on market will suffer.
3. Experience: Producing a quality renovation takes know how. It’s all in the details and if you don’t know what to look for, hire a general contractor.
4. Managerial skills: Without them you are at the mercy of your crew. If you don’t have them, hire a general contractor.
5. An architect: If a substantial renovation is necessary, hire one. They’ll create a plan used by your project contractors thus reducing costly mistakes. No matter how good you think you are unless you have experience, do it yourself renovations turn out like, do it yourself renovations.
6. A crew: They don’t appear out of thin air. It takes experience to create a good team that produces quality work. It’s one of the things a good GC can do for you.
7. Accounting: Keep track of every single penny you spend on a spreadsheet. You will need it to determine and defend your IRS exposure, and to provide accurate P&L info.
8. Don’t buy a house just because it’s a good deal. Sure, you have to buy right, but as importantly, projects must have a reason to be. Know, up front, who your buyer will be, (or what you want from your future residence), and the price point for that market.
9. A real estate agent: One who has renovation experience, one who can find your future home, and/or knows what to say to prospective buyers. Get one who can “talk the walk”.

The Importance Of Leadership Skills In A Real Estate Agent:

It’s important that your agent “talks the walk” – that’s the ability to explain in language that is unique to their field and compelling to colleagues and customers alike, explaining why what they do matters and how they expect to win. The only sustainable form of business leadership is thought leadership. And leaders that think differently about their business invariably talk differently about it as well. When you renovate, buy, or sell, you need an agent with leadership skills, and the ability to convey a compelling presentation that successfully closes your deal.

Mary Margaret Kean, Realtor

504-330-0374

mmknola@gmail.com

Middleton O’Malley, Realtor

504-579-4717

SRES (55+ Specialist), GREEN (Sustainable Building Practices),

ABR (Accredited Buyers Rep), GRI (Graduate Realtor Institute)

middleton@amnola.com

Coldwell Banker, TEC Realtors

​​504-899-4040

4500 Magazine St., Suite 2

New Orleans, LA  70115 USA

Re/Max Jaret & Cohn

207-596-0352

25 Park St.

Rockland, ME 04841 USA

licensed in Louisiana & Maine

Most of us actually “live” in our homes…they don’t look like a photo from Better Homes & Gardens or that anyone is coming for a photo shoot any time soon.  Our homes are used every day and it’s hard to keep them perfect…and perfectly clean.  But the #1 Buyer complaint will surprise you.  Think about your own home…the kids have been grabbing the door casings and swinging around the corners, the dog just got back from a day of hunting or has just come in from a rain storm, and oh, there’s that spilled chocolate milk.  All this adds up, and over time things can start to look, well, normal!  

So, since we are all human beings subject to similar things in life, most of our homes looked lived in.  But when we show our homes to prospective buyers, guess what, those very self same human beings who have homes that look just like yours…want your home to look spotless.  

The #1 Buyer complaint…the house looks dirty!  So, even though their house makes yours look like a palace, if you are staging your home for sale, make sure it is, in fact, spotless.  It will give you a big edge.  And, after those nice people buy your home…they will turn it back into a nice lived in home in very short order.

Middleton O’Malley

504-579-4717

middie@nolamiddie.com

Not necessarily in order here are four important things that drive the sale of a home. Location, Amenities, Condition, and Price.

Let’s look at two of them.

Location usually relates to a home being in a demand area. But don’t forget that while an agent may say, “Wow, this home is in a great location”, it may not be your cup of tea. Look around; get a feel for the area. Ask yourself, “Does this location meet my recreational, occupational, life style, personal preferences, and social needs?”

After getting all of the facts…You decide what location is right for you.  Here’s a link to a few locations that are getting a lot of love.  

Amenities can refer to things like a pool, (which is a neutral price wise), a garage, family room, or a fabulous kitchen or bathroom. Make sure the amenities have real value for you. Avoid getting sold on a house that has only two bedrooms when you absolutely need three but it has a killer kitchen.

In short, look beyond amenities that are more show than go.

On another note… 87 year old Willie Nelson has a wonderful new album called First Rose of Spring. There are 11 songs, two of which are originals. Given his age the album is understandably reflective, but it lacks no loss of energy or any feeling that it is the end of the line. Nelson’s laid back delivery on this album harks back to 1975’s Red Headed Stranger complete with its timeless sense of Americana…in Willie’s world time can and frequently does stand still. That fact alone, in these times of hyper accelerated change and pandemic Willie Nelson’s new album is just what the Doctor ordered.

by Middleton O’Malley: 1st Time Buyer & Over 60 Specialist.  Everything you need.

Selling Your House…Got Cameras and Audio Recorders in it?

You’d be surprised what buyers say about our darling homes. Naughty, naughty! But the fact is they have a right to privacy, so, if you have operating audio/video equipment in a home that you’re selling, make sure that your agent discloses that fact in the agent remarks section in the MLS listing, as well as other pieces of literature such as flyers. The public has a right to know.

Buying an older home built on a slab?

If the slab built home you’re thinking about buying is 50+ years old, you can almost guarantee that the cast iron pipes under the house, and those running out to the street are in less than stellar condition. That’s in addition to other age related deficiencies such as deteriorating pilings. With older slab built homes the bywords are… Inspect everything very carefully, and Video Inspect all under slab drain pipes.