We Need Homes to Rehab!

We Need Homes to Rehab!

Riley Ringgold here with Team Ringgold over at Keller Williams.

I wanted to get on here today and tell you that we are looking for properties. We need properties that have been abandoned, or properties that have been rented out and not taken care of, or properties that you know somebody just doesn't want to deal with anymore.

I'm a buyer. My father's a buyer. My brother's a buyer. We've also got probably six or seven other investors that are looking to buy properties right now! Today we've got a couple projects going on, and once those projects are finished these guys like to stack them up and stay busy!

They don't like to stay idle once a project's finished, they want to be closing on another one and starting work on even more. We are out of homes to sell I'm calling on you guys to see what you guys can find me.

I'm looking for abandoned properties, places with the grass up to your knees, properties that are hoarded, properties with holes in the roofs - we don't care! My guys, they just need to buy it at a good deal.

I've got buyers that buy all across the city, so if you know of a property - it's better if it's somebody you know - but if you're driving down the road and you see something that could use some work, certainly send me the address and I'll look into it myself.

But if you got friends or family that maybe have a property like what I'm describing, let them know that right now may be the time to offload that property. We want to contribute to rehabbing neighborhoods and providing good quality homes to people in the process.

When the Market's sitting where it is, we're buying houses, and I've got people that need to buy so they can remodel to flip and rent.

Give me a call (785) 817-9724 and let's see if we can get some new properties under contract!

Thanks!
- Riley

Renovating Your Home Like a Pro

Embarking on a substantial home renovation project can indeed be a formidable undertaking, particularly for those new to the real estate investing game. In this article, I'll dissect the intricate stages involved in completing a home renovation from inception to completion, equipping you with the knowledge and confidence needed to tackle your next fixer-upper like a seasoned pro.

Step 1: Strategic Planning

Successful renovation endeavors start with a well-thought-out strategy. Begin by assessing the project's scope, but don't stop there. Convene a strategic meeting with your chosen contractor to gain their valuable insights and finalize your renovation roadmap. Delve into essential aspects like repair methodologies and potential layout alterations. If you've enlisted a dedicated contractor, leverage their expertise to streamline project management, as they liaise with other specialists and keep you informed. This would most likely happen before purchasing the property as you would need to do this to come up with a budget.

Step 2: Define the Project and Get Materials

Once your project's scope is crystal clear, and you’ve got the property bought, collaborate with your contractor to draft a meticulous schedule, often a prerequisite for lenders. This schedule should detail the sequence of tasks. I would recommend working out a payment plan for your contractor to be paid after each part of the project is done. Also, depending on your business I would also supply the material myself, this would negate upfront material bills the contractor would produce and I know I’m not getting up charged for material.

Step 3: Demolition

Drawing from experience, prioritize demolition as an initial step. Arrange for a dumpster, assemble a skilled crew, and efficiently clear the site of debris, encompassing kitchen and bathroom fixtures, drop ceilings, paneling, and flooring. This decisive cleanup lays the groundwork for a smoother renovation journey. Decide at this point what flooring needs to be removed along with trim and doors.

Step 4: Exterior Enhancement

Shift your focus to the home's exterior, commencing with the roof to safeguard the interior from the elements. Concurrently, consider upgrading windows and siding. Don’t overlook the lawn or shrubs; many times I’ve had to remove obnoxious weeds and bushes from properties and their fence lines. Promptly completing these tasks can attract positive attention from neighbors and passersby, enhancing the property's curb appeal. If you have a couple different crews working on the property this can also be done at the same time as the interior. Start early so you have extra time in case of weather delays.

Step 5: Electrical, Plumbing, and HVAC

After demolition you will have a blank slate to work with and possibly some open walls. Get the utilities turned on and check for leaks or other issues. Make any repairs or changes before you get to the drywall repair. HVAC is important because it can be expensive. If there is repair needed that wasn’t budgeted, get this done and figure out what future project you can cut out of the budget. It’ll also be advantageous and more comfortable to have working HVAC for the remainder of the project.

Step 6: Structural and Subfloor Work

Address structural concerns, which may entail replacing deteriorated wood, erecting new walls, or demolishing existing ones. Pay particular attention to areas intertwined with plumbing and electrical systems.

Step 7: Bathtubs, Vanities, Cabinets

Now is a great time to install your new cabinets, vanities, bathtubs, and showers. Keep the protective films on the new cabinet to keep them from getting damaged. If you are ordering counter tops now is a good time to have the company out to measure as it could take a couple weeks for delivery and install.

Step 8: Drywall Mastery

With major systems in place, shift your focus to drywall installation. Evaluate the condition of existing walls and decide whether replacement or patchwork is necessary. Make note of any walls that have wallpaper or paneling that still needs to be removed and be prepared for additional drywall work on those, as they could be damaged and you just can’t see it yet. A meticulously executed drywall job can breathe new life into an aging property. Don’t skimp on your drywall contractor. Paint cannot cover up a bad drywall job, and could hurt your overall value.

Step 9: The Art of Painting

With drywall complete, it's time to paint. Apply primer or an initial coat to the walls, rectifying any imperfections before applying two final coats. This phase plays a pivotal role in transforming the property's appearance. Don’t forget to paint any trim, baseboards, or doors that need updating.

Step 10: Flooring

If your changing the floors, now that paint is done you can lay your floor. LVP flooring makes it quick and easy to change the floors in any home. Don’t over look transitions, or stairs that may also be needed.

Step 11: The Finishing Touch

This is the finishing touches, encompassing meticulous details such as outlets, switch plates, mirrors, blinds, drawer hardware, door handles, closet rods, and light fixtures. A flawlessly executed punch out phase is essential for elevating your renovation to the highest standard.

Step 12: The Grand Finale

Time to get your finished property sparkling: mop the floors, wipe down walls, cabinets, trim. Clean the windows. If you're supplying appliances get them installed and make sure they work. Test all the light fixtures and make sure all the doors and windows open and close smoothly.

Step 13: Marketing Mastery

Upon completing the renovation, embark on a strategic marketing campaign. Timing is key, and it's generally advisable to showcase the fully renovated property to potential buyers or renters. Something that is overlooked by real estate investors is photos. HIRE a professional to take photos of the place to use in your marketing.

By diligently following these steps, you'll confidently navigate the intricate world of real estate renovation, transforming your fixer-upper into a market-ready gem that stands out in the competitive landscape. After going through this a couple of times you will build a habit of the process and make your real estate investing more efficient and more profitable.

Top 3 Questions To Ask Before Hiring a Real Estate Agent

Real Estate agents are a dime a dozen! There are so many options out there and it's more than likely that you know more than one. Not all agents are the same and when it comes to handling buying or selling real estate you don't want an ameture that will end up costing you more money, or loosing you a deal all together. We recommend that you interview 2-3 agents before choosing who you will work with. Here are the top 3 questions that you should ask to make sure you are getting an experienced agent that you can trust!   #topeka #topekaks #topekarealtor #realestate #budgeting #realtor #buyahome #closingcosts #buyingahome #topekaagent #buyahome #buildwealth #investing #investment #invest #equity #rental #rentalproperty

How To Manage Multiple Offers On Your Home

This is an exciting time for home sellers. Most houses are selling within just a couple days on the market and buyers are fighting to get their offers accepted. It's important to slow down and really evaluate the offers that you have before make a decision.   #topeka #topekaks #topekarealtor #realestate #budgeting #realtor #sellingahome #sellmyhome #closingcosts #buyingahome #topekaagent #buyahome #buildwealth #investing #investment #invest #equity #rental #rentalproperty

3 Things You Should Know To Avoid Foreclosure

Foreclosure is not a problem you can ignore and it will just go away. Be proactive and find a solution to save your home, your equity, and your credit!

How accurate is the Zillow Zestimate for my home in Topeka?

When it comes to buying or selling a home, one of the first things many people do is check the estimated value of the property on Zillow.
Why isn't my home selling!

Why isn't my home selling!

It’s not a seller’s goal: you put your house on the market, hoping for a quick sale — but after months on the market,  you haven’t received any acceptable offers and few showing requests, leaving you to ask: Why?

You Have a MARKETING Problem if…

  • The photos were shot with a phone camera or only feature an outside photo.
  • Your MLS listing is missing room sizes or notes featuring details about your home.
  • Your agent’s idea of online marketing is featuring your home on Zillow and Realtor.com.

You Have a PRICING Problem if…

  • You’re getting lots of showings and no offers.
  • You’ve received offers from a few buyers and they are all around the same price, lower than your asking price.
  • The market has declined since you listed your house for sale and you haven’t adjusted your price to reflect today’s new reality.

You Have a SHOWING Problem if…

  • Potential buyers can’t see your property when it’s convenient for them.
  • You’ve restricted appointments to specific hours of the day with a 12-hour notice period.
  • You’re home during the showings.
  • Your dog is not in a crate and barks and intimidates the buyers.
  • Your agent’s office doesn’t have a systemized process for other agents to book appointments.

You Have a STAGING Problem if…

  • Potential Buyers are too distracted by the clutter and mess to see the house.
  • You have a ceramic chicken collection or the walls covered floor to ceiling with framed family photos.

You Have a LOCATION Problem if…

  • You’re on a busy street, adjacent to train tracks, have a hoarder as a neighbor or are otherwise located in an undesirable area
  • You can’t change location, so refer to Point #2: You have a pricing problem. Every location sells at the right price.

You Have a HOUSE Problem if…

  • Your agent is repeatedly getting the same negative comments from showing agents
  • If you can’t fix the problem (ie lot size or lack of parking), then refer to Point #2: You have a pricing problem. Every house sells when the price is right.

You Have an AGENT Problem if….

  • Your agent isn’t giving you feedback, updates and keeping you informed about what’s happening to the other houses for sale in your area.
  • Your agent isn’t suggesting new strategies to get your house sold and adjusting to a shifting market
  • Your agent just listed your house on the MLS and is praying it will sell itself.
  • Your agent doesn’t understand the power of marketing

You Have a TIMING Problem if…

  • There are many homes in your area for sale at the same time as you.
  • It’s the Christmas season. Or the first nice stretch of summer weather.
  • Interest rates have just been hiked.
  • Nobody else’s homes are selling either.

You Have a MOTIVATION Problem if…

  • You don’t really need to sell – you’re really just testing the market.
  • You aren’t listening to what the market is telling you, because it doesn’t really matter. You want what you want, and if you don’t get it, that’s ok.

Truth:

The value of your home is really how much a Buyer is willing to pay for it. While real estate agents look to recent and nearby comparable sales to help us predict what that market value might be, market value is actually dictated by the Buyers making offers  and Sellers accepting them.

The longer your house is on the market, the more it costs you!

The longer your house is on the market, the more it costs you!

Something that goes overlooked during the home selling process that you may not know about...Holding Costs!

Holding Costs are the costs that you incur while a house is sitting on the market. Take a look at how much in Holding Costs is accrued while you wait for a house to be bought- it may be more than you think!

Topeka houses are still selling faster that pre-pandemic

Topeka houses are still selling faster that pre-pandemic

Some think the market has cooled, but the stats show that houses are still selling fast! Take a quick look and see that homes are still flying off the shelf faster than they were before the pandemic!

2655 SW Wanamaker Rd
Topeka, KS 66614