HGTV, A Cup of Coffee, and a House Flipping Venture

In 2016, Ian Curtis, asked if I’d meet him for a cup of coffee. While we share the same last name, it turns out the only relation we have is through real estate and our interest in restoring 100 year old houses. We met at Case Study on Alberta St in NE Portland to talk about house flipping. Ian had just gotten his real estate license. He shared with me he wanted to buy and restore houses. I had been house flipping in Portland for about five years by then, so I certainly had some experience to share. And tips.

I’ve always been open to talking with people about my real estate ventures. But also what has had them go well and the pitfalls along the way. By the time I met Ian, I had had many cups of coffee with many people who had even a twinkle in their eye when watching their favorite house flipping show on HGTV. And I love that, actually.  That’s usually where dreams begin in this line of work. Whether or not people go on to actually do the work and restore houses, doesn’t really matter. It’s exciting imagining, and then taking a few steps to see if its right for you.

I don’t remember everything Ian and I talked about that day, but I remember him asking thoughtful questions. I saw him as a serious, very professional, and talented, young guy. And I think I recognized an old soul, which really made me like him from the beginning. Also not bad qualities to have in this line of work.

N Cecelia Kitchen Renovation

From then, Ian and his business partner, Matt Clark, went on to flip a house. I remember that first one well. It was an old farm house in North Portland on N Cecelia St. It was such a thoughtful renovation, a ton of work, and people loved the traditional farmhouse remodel style they created. When we listed it for sale, it sold within the first three days.

Now, several years later, Ian and Matt have a dynamic real estate development business, Milk & Honey Restoration.  They take on complex home renovations, new construction and rentals. While I wish I could take some credit for it, they’ve really gone beyond what I’ve done. Though I do appreciate they still ask my opinion from time to time. 😀 They have their own ideas, style, and team. And I’ve been inspired not just of the work they’ve done, but the integrity they have in their work.

Their most recent remodel is at 2606 SE 16th Ave, Portland, an old Foursquare home with large garage they converted to a second living space. I asked Ian some questions about the house, and here’s what he shared

 

What was the inspiration for the remodel and design you chose?

Sometimes a renovation project feels like a blank slate where the original design and style is ambiguous or has been convoluted over time. Other times, such as this one, a house has such marvelous original style that staying true to that design feels like the best thing you can do for the home. Working with Pip Stevens, our local interior designer, we restored the many original archways, replicated original trimwork, and made design decisions that stayed true to the original architectural style of the home while bringing in fresh ideas and modern upgrades.

SE 16th Living Room Renovation

What was the most unexpected thing that popped up if anything?

One of the unexpectedly pleasant things that happened was, after opening up the walls, discovering how well built and well kept-up the home was. Some of the best “bones” we have seen in a home of this age. Probably the most unpleasant (though maybe not so unexpected) thing that happened was the delay in manufacturing times.  The pandemic supply chain issues are still affecting all sorts of products and it is hard to keep track of what products will have delays. For the last project, garage doors were extremely delayed. For this project, our windows took at least two months longer than usual to get back from the manufacturer, causing a pretty big delay in the project.

Did this turn out how you expected, or did you make any big changes along the way?

When we started the project we hadn’t decided how to finish the garage. The extra large garage with a kitchen sink and upstairs loft was once apparently used by one of the early owners, an Italian vegetable farmer or merchant, to wash his vegetables before selling them at a market. After some due diligence and deliberation we decided the best use of the space was to create a 1 bedroom / 1 bathroom legal ADU while retaining a single car garage space. The ADU can be used as a short or long term rental. The close-in, desirable location surely lends itself to, or however the next owner sees fit.

Ian and Matt provide an exceptional level of detail in their work. When you walk through this house, you want to sit down and stay for a while.  But it doesn’t just look pretty. When you discover the new guts of the house: energy efficient casement windows, roof, extensive electrical, plumbing and efficient heating and cooling updates, you want to move right in.

I had the opportunity to share this house and and before and after photos of the house on KATU’s Afternoon Live.  To see the short interview and photos, check it out here 

Bobby Curtis on Afternoon Live with Kara Mack, House Flipping & Portland Real Estate

For those with that twinkle in their eye after watching their favorite HGTV show, check out my house flipping tips.  Now let’s get some coffee.

Hiring Great Contractors

So many of us are planning work on our homes right now. Ensuring you make the right contractor hiring decision is essential right now. And if you think it’s just about making sure they do quality work, that is only part of it. I shared some tips. with Kara Mack from Afternoon Live about what to consider and look out for. See the full 7 minute interview here

Great Contractors

Have great reputations

    1. Stand behind their work when problems show up- and people rave about them. DON’T just look at online reviews- businesses tend to ask for reviews from clients when things go well, not when they don’t
    2. Reliable

** Bad contractors tend talk about themselves more than others talk about them

Organized and good with the basics

    1. Have a schedule, and communicate when they will be able to do the work
    2. Do what they say they are going to do, including show up for the estimate on time, and get you an estimate when they say they will.
    3. May have an office person who keeps track of the schedule and communicates all necessary information.

** Bad contractors aren’t great at following through on the basics

Experts and resourceful

    1. Listen to you, meet you where you are, and present curiosity and interest in your project
    2. Do not treat your project like its just like all of the rest
    3. Willing to share why they recommend an approach or certain products
    4. Tailor their proposal to your interests, and not just what they are used to doing

** Bad contractors have a blanket approach based on what they usually do

One more tip: The clearer you are on the scope of work, and confidence you present that the project WILL be happen, the more interested contractors will be in working with you.

Buying a Home Vs. Remodeling The One You Have

I talked with Kara Mack on Afternoon Live today about whether people should buy a new house or remodel the one they have. It’s worth diving into a little bit because home prices, building materials, and contractor prices are all up this year. Below are some things to consider. To watch the 5 minute clip, click here
  1. Get honest about what really doesn’t work about your current house.
    1. Enough space
    2. Outdated
    3. Location
  2. If a remodel could work, get estimates
    1. Costs of some building materials have increased exponentially over the past year (lumber)
    2. Demand for remodel has gone up, contractors are busy, and their time is worth more than a year ago as well.
    3. Determine a realistic timeline- most materials are coming late.
  3. Planning to Buy
    1. Home prices in the Portland area are up 17% from a year ago. For a $500k house, that’s $85k more
    2. Since 2/3’s of houses sell in the first week, you will have to compete
    3. You may have to be willing to pay more than the appraiser says it’s worth, so make sure you’re planning to live there for a while

If you decide to remodel your current home, check out some tips on Hiring Great Contractors

Stage Before Selling, Even in Today’s Market

I talked with Kara Mack on Afternoon Live today about the importance of professionally staging houses before selling them. Even when the feeling is everything will sell no matter what because of the low housing inventory, staging will draw in more interest, and get more return on your investment.

To get all of the tips, check out my 6 minute interview with Kara here

Here are some of the highlights:
* Designed by experts, a staged house will look better than most buyers will decorate or furnish it themselves
* Staging showcases how to functionally use awkward spaces and rooms
* Buyers will be taken over by their great experience being in a staged house, and not be looking for what’s not right with the place.

Before and After Staging

Before and After Staging Bedroom

Before and After Staging Small House

Staging is one of the four tips I give to sell your house faster and for more money. Check out the other three here

My client, Tasa’s home remodel

In 2018, Tasa, reached out to me because she wanted to flip a house. I didn’t know it would lead to this, but since then, we have spent many hours talking about house remodeling, key improvements, and how to ensure a profitable investment. Just finishing up her third successful home remodel, I wanted to share some of her work with Kara Mack on Afternoon Live. Below are a few before and after photos. For the full 8 minute segment, and more of the work she did to the house, check out the link below.

My Client, Tasa’s, Third House Flip

Multifamily Houses in Portland

Today I talked with Kara from Afternoon Live about multifamily houses in Portland. To see the full 7 minute video, click here

Multifamily Duplex In Portland

Here’s an example of a duplex that was for sale in Portland that I thought was a great long term investment.

  • 1950s side by side 2 BR/1 BA multifamily (duplex) with Tuck-under garages.
  • It was already vacant and in extreme disrepair when we bought it.
  • NE Portland- Alberta Arts area. 
  • Current 2 Bedroom rentals are roughly $1600-$2200
  • Current 3 Bedroom rentals are roughly $2500-$3000/month. 
  • We decided to finish the lower level, adding additional bath, bedroom, and bonus living space. Each unit will now be 3 BR/ 2 BA.
    • Better use of space (more people can live in the property)
    • By adding this additional finished space, it will bring in more rental income to cover the cost of the renovation work 
    • That extra monthly income will pay for the additional renovation work over 8-10 years.
  • By updating everything, there will be few if any large maintenance expenses within the first 7 years. This makes profit and loss a little more predictable.

Not in the buying market or interested in multifamily, but thinking of selling your home? Check out my tips here. 

 

Update to Portland Real Estate Market Since Covid

I gave the latest update on the Portland real estate market on Friday on Afternoon Live.  Check out some of the highlights of this this year right now compared to last year. Things are looking different, and even different from just a few months ago. If you’re interested in the deeper dive, check out the 6 minute interview here.

And here is the link to the update for just a couple of months ago. Take a look to see how things have changed.

 

Portland Real Estate Market Since Covid

I stopped by Afternoon Live with Tra’ on Friday to give her the latest on the Portland real estate market. Things are looking a little different. Review some of the highlights below, then check out the 6 minute interview here.That’s where I’ll share what that actually means.

 

Portland Real Estate Market since Covid. Latest stats
Portland Real Estate Market Since Covid
Portland Real Estate Market since Covid. Protection.
Portland Real Estate Market since Covid

 

 

Click here for updated stats as of July 2020.

Tips for Selling Your Home Faster

Professional House Flipper and Real Estate Agent, Bobby Curtis gave tips on how to sell your house faster in this “neutral” market. See tips below or click here to see the full interview on KATU’s Afternoon Live with Tra’Renee.

Price it Right- Sell Your Home Quickly

1.Price it right- don’t hold out waiting for your buyer. It may work on occasion if you have a very unique property- but let someone in the real estate business be the judge of that.

Effective Staging- Sell Your Home Quickly

2.Effective staging. Of the homes that sell within the first week on the market with multiple offers, most of them are staged or appear staged.

Stay In Contract- Sell Your Home Quickly

3.Once in contract to sell your house, stay in contract. Negotiate after they do their inspections.

Hire a Great Agent- Sell Your Home Quickly

4.All of this will be made easier if you are working with a great real estate agent.

For more from Bobby, and some great contractor tips for your next home remodel, click here

5 Mistakes to Avoid Before Flipping a House

I shared the 5 mistakes to avoid before flipping a house with Tra’Renee from Afternoon Live on Friday. Whether you’re a seasoned house flipper or you’re getting ready to restore your first one, you could probably get a good nugget or two from watching my short interview. Check it out here.

  1. Putting in materials and finishes that don’t work
    1. Find out what finishes are being used for houses selling quickly in the area. Use those.
    2. Consider working with a designer or an experience REALTOR® in this area.
  2. Buying a house to flip with no good comparable houses
    1. Flipping a house shouldn’t feel like a guessing game.
    2. Work with a REALTOR® who can show you there are other houses like the one you want to buy that other buyers have bought for the price you need to sell yours for.
    3. Look for evidence of houses selling for a lot more that are in much better condition. Take surrounding houses into consideration
  3. Putting the house up for sale before it’s 100% complete. One chance to make a good first impression.
    1. There are many houses I have walked into with evidence of work not being complete, door knobs falling off. No matter if that is the only doorknob loose in the house, it will BE the representation of that house.
  4. All DIY
    1. Hire professionals to do the professional work.
  5. Taking too long
    1. You had good intentions to flip the house in 2-3 months, and pretty soon that turned into more work than you thought. 9-12 months later you are ready to list.
    2. A market can shift dramatically in 9-12 months. I like to buy a house, restore it, and sell it in the same market
    3. Taking too long also kills personal morale. Keep that moment going.

 

Interested in more? Learn whether a house makes a good candidate to flip or not to flip here

Bobby Curtis
Principle Broker
Licensed in Oregon
Licensed Contractor
CCB# 215071
503-502-3066

Wait until you see the views from the Henry!

1025 NW Couch St, Portland, OR 97209 | OFFERED AT $449,900

MLS# 19588538 | 1 BED | 1 BATH | 736 SQ. FT. | HOA: $420/mo

The Henry is a luxury high-rise with the condominiums featuring hardwood floors, gourmet kitchens and huge windows allowing great natural light. All this in a perfect location, just steps to the streetcar, Powell’s books, and downtown Whole Foods. Included is a deeded parking space.
Currently, this condo could be used as a rental or an owner occupant.
The clients we’ve taken to the Henry tell us they loved the great views, natural light and excellent location.

OPEN HOUSES:

Saturday Sunday, 1/26 – 1/27 from 2–4pm

 

To Flip or NOT to Flip

That IS the question. It’s always a pleasure to join Tra’Renee on Afternoon Live to chat about real estate.

I have been flipping houses, both large and small, since 2010 and have extensive first-hand experience with house restoration. You can find more of my interviews and tips on buying, selling, and flipping a house here.

This week I answered common questions about flipping houses. You’ve seen the TV shows that make flipping seem easy but there’s a lot to consider. If you’re thinking this may be for you, check out my tips and then watch this clip to arm yourself with all the facts before you dive into your next home restoration project.

Before you quit your job and start flipping houses, here are my Top Four tips:

1. Know your strengths and weaknesses.

2. Lower your risks by becoming or hiring a professional.

3. Have a budget and stick to it.

4. Be flexible because you never know what might come up once you’re in contract to sell that house.

Check out Afternoon Live, where I’m on once a month for more advice and guidance on Portland real estate. And click here to learn about 5 mistakes to avoid before flipping your first house.

Bobby Curtis
Principle Broker
Licensed in Oregon
Licensed Contractor
CCB# 215071
503-502-3066[/caption]

Contractor Tips For Your Next House Remodel

If you’re getting ready to remodel your house, or take on a small house project, here are some of my top tips.

  1. Save money and time without compromising quality.
    Some lighting and bath stores have deeply discounted prices at certain times like Rejuvenation which specializes in new , high quality made to look original lighting. Once/quarter: new stuff sometimes 75% off from returned orders, or overstocked stuff. You can also visit online coupon websites and get a home depot promo code to use on your purchase.
  2. Tile stores like Pratt and Larson, Daltile and others have a formal clearance section. Great quality at deeply discounted prices for returned tile, or leftover boxes from a large order. Deeply discounted and high quality.
  3. There are places around town like The Rebuilding Center in North Portland that have great deals on original kitchen and bath fixtures, windows, and doors that came right out of houses in Portland, often times when houses are getting a make-over. Clawfoot tubs aren’t for everyone, so if someone takes it out, and you’re looking to put one it, you can get it for a great price.
  4. Contractor/Designer Discounts. Places like Lowes, HD, the lighting and tile stores I mentioned earlier, almost all of them offer contractor or designer discounts. If you let them know you restore houses, they will give you a contractor rate. Be sure to ask for it before you make purchases.
  5. Worksite/House Stuff: Bring Donuts and Coffee (especially when there are many contractors in a house at once). Most of these guys like to work alone, and you’re a savvy house renovator, so you have a timeline to keep and have several of them working at once. Bring donuts, and start the day off with a smile. It goes such a long way.
  6. Work clean- at the end of everyday, make sure the people you are working with pick up after themselves, remove debris, and take their tools and supplies with them. It allows you to see true progress on the house, and not feel like its constantly a wreck.

For more, check out my interview with Kara from KATU here

Bobby Curtis
Principal Broker
Licensed in Oregon
Living Room Realty &
Licensed Contractor
CCB: 215071
503-502-3066

Home Remodel: Keeping it Safe

Licensed Contractor and REALTOR®, Bobby Curtis shared with Tra’Renee classic things that you can do to your house that won’t go out of style.

White Kitchen Cabinets
Hardwood Floors
Nickel & Chrome Light Fixtures
Wood Burning Fireplace
Nickel & Chrome Bathroom & Kitchen Fixtures
Kitchen Island
Wood/Iron Bannister

 

If you want to learn and see more watch the live interview on KATU’s Afternoon Live here

 

Bobby Curtis
Principal Broker
Licensed in Oregon
Licensed Contractor CCB 215071
Living Room Realty
503-502-3066
bobby@livingroomrealty.com

Inspections. Buying, Selling, Flipping

When you get ready to buy a new house or put your house up for sale, the house will almost always have  professional inspections. And if you buy a house with the intent to renovate and resell it, get ready for 2 sets of inspections in a short period of time- when you buy, and when you sell. Licensed REALTOR® and Contractor, Bobby Curtis discusses the what’s and why’s of this with Tra’Renee Chambers on KATU. Watch here or check out his highlights below.

Lets talk about When You Buy

As a licensed Contractor and a licensed REALTOR®, I still get inspections before the purchase and you should too. Here’s why:

Inspectors are inspecting many houses in the area we’re buying houses every day. They see all the good and all the bad in detail, have more experience than most of us, and offer a ton of information. They provide a thorough inspection report with pictures. If you need to negotiate and repairs or credits, you have detail of the situation that the sellers may not know about their own house. Inspectors are a non-biased independent third party. As much as I like to keep my own emotions out of a real estate investment, having an inspector give me the facts, helps keep me in check

There are 4 standard inspections that are common to conduct while in the inspection period in the Portland area. 1. Whole home general inspection. 2. Sewer scope to ensure a compliant, functioning sewer line. 3. Oil tank scan, to see if the property has one, and ensure it is in good shape. 4. Radon test, to ensure low levels of radon in the house.

Before getting into contract, I always have a budget with detail on what I plan to spend money on and how much. After the inspection, I’m able to make adjustments. (ie you may have thought you needed a new roof, but alas it just needs moss removal)

Patio in need of love
Patio needs inspections

 

Lets talk about When You Sell.

The buyers will almost always get all 4 of the previous inspections, and maybe more. Even better if you can provide them the clean sewer scope, radon test, and oil tank scan results showing everything is in good shape. This gives your new buyers extra confidence in the house. Keep in mind, if this is a house you remodeled and something came up on your inspection that you did not fix, there is a good chance it will come up for the new buyers.

Know that even if you fix everything that pops up on your inspection report, the new buyers inspectors are bound to find some things. It is essentially part of their job to find things wrong with the house, and most of these Portland area houses are older.

bath renovation for home sale
Bathroom renovated

 

If you have an inspection-type question you’d like to ask me, or want help buying or selling your next property or home, give me a call. I’m happy to help.

Bobby Curtis, REALTOR®

Bobby Curtis
Principal Broker
Licensed in Oregon
Licensed Contractor CCB# 215071
503-502-3066
bobby@livingroomre.com