If you have ever wondered about flipping projects in the "HOOD" then read some helpful tips I use to avoid common problems associated with tough neighborhoods. If you have already encountered some of these issues, well I guess you know what's up!
I know a lot of people may say just get an alarm system on your units. The problem with this is that most alarm companies want to put you on a contract that will still be enforced after you sell or dispose of the project. And there are also the sub contractors that you have to account for. There will definitely be several subs in and out of your project during rehab. It is very impractical to have a security system installed on a property that is undergoing construction. With that being addressed here are some techniques I use to help minimize loss of material and time.
1. Rent or Purchase a UHaul truck. 14ft-17ft is great for rehabbing projects in less desirable areas. I use them to do dump runs with the tare out and demo. Afterwards I use them as a mobile locker for materials. They are absolutely great for pick up of lumber and things like doors, tubs, vanities, cabinets, windows etc. At the end of the day you can always drive it off the site to a more secure location with all the goods in side. I purchased my first one directly from U Haul for $3500 and it was worth its weight in gold.
I know a lot of people may say just get an alarm system on your units. The problem with this is that most alarm companies want to put you on a contract that will still be enforced after you sell or dispose of the project. And there are also the sub contractors that you have to account for. There will definitely be several subs in and out of your project during rehab. It is very impractical to have a security system installed on a property that is undergoing construction. With that being addressed here are some techniques I use to help minimize loss of material and time.
1. Rent or Purchase a UHaul truck. 14ft-17ft is great for rehabbing projects in less desirable areas. I use them to do dump runs with the tare out and demo. Afterwards I use them as a mobile locker for materials. They are absolutely great for pick up of lumber and things like doors, tubs, vanities, cabinets, windows etc. At the end of the day you can always drive it off the site to a more secure location with all the goods in side. I purchased my first one directly from U Haul for $3500 and it was worth its weight in gold.
2. Plumbing is one of those things that tend to disappear when copper is used. A great alternative is PEX piping or ABS. Some areas of the country you really need to use copper. In these cases spray paint the copper black. Vandals and thieves won't take pipes that have been sprayed black. They usually mistake them for gas pipes.
3. Air Conditioners- If you have ever flipped a house in areas where air conditioners are mandatory, then you know how fast they can come up missing. These units can run $1500-$3000 depending on which ones you buy. Vandals will not only steal the whole unit but they will often times destroy a valuable unit for $20-$40 worth of copper on the inside. Solution build an iron gate around the unit with concrete footings. This is a fairly easy and inexpensive cure. I have never had one taken once I employed this technique.
All in all things are bound to happen when you flip distressed properties in challenging neighborhoods but with a little creativity and common sense you can mitigates some of the opportunities vandals and thieves take. It may seem like a hassle to do some of these things but nothing is worse than having to replace some of these items in a market that already has smaller appreciation then previous years. Take it from me the old saying "an ounce of prevention is worth a pound of cure" really works.
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