Relocate to Wisconsin : Recipe for Disaster.....

Recipe for Disaster.....

 We had a Buyer who had built several homes, done remodeling and was prepared to roll up sleeves, hire licensed contractors for some necessary and do what was necessary to "make it their own". The Buyer understood the costs...knew how to figure out holding costs if they chose not to move in immediately...the taxes, utilities, maintenance in addition to the cost of improvements  To say that this was a "project" was an understatement.  recipe

    The Sellers had tried selling the house...overpricing it....had  very smokey tenant who continued to help the condition deteriorate...and decided that painting the exterior would bring the curb appeal it required to get a buyer. Never mind the sagging garage roof, wrinkled gutters....dated everything....this Pig- Stick (our term for lipstick on a pig.) would be the cure.

pig stick  The Sellers felt our Buyers offer was too low...and they could easily "paint and re carpet" and some how make a five figure profit ....and would also remodel the kitchens and baths.   

   To add one more ingredient to this disaster...the Sellers live hours from the property and are going to have someone ....also with no real experience..."Keep an eye on this project."

   From that school of "Know What You Don't Know"....profit is a wonderful determined in this case by two main ingredients...the real costs of the "remodeling" AND the real price the property will command upon completion.

   common sense Use some common sense...if flipping were as easy as it is portrayed on TV ....or all you had to do was call that number they gave on the radio...1 800 -MAKE-MONEY...wouldn't everyone do it ?  People with common sense realize that this takes experience...reliable contractors...AND a Realtor who will realistically give them a finished price. 

   If you ...or anyone you know is looking for Realtors with a common sense approach to real estate in southeastern Wisconsin...Call the Hansons, we would be honored to be of service.

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS

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Comment balloon 19 commentsSally K. & David L. Hanson • October 19 2015 05:13AM


You are so right, wish I had a dollar for every call I get from new investors wanting to find great deals to flip.  Just not that easy to make the numbers work.

Posted by Jeanne Feenick, Basking Ridge, Warren, Bridgewater Market Expert (NextHome Premier) over 2 years ago

Good morning Sally and David,

Sounds like they will be heading towards renting again and then have to redo it all over again until they bite the bullet and accept the loss!

Make yourself a great day.

Posted by Raymond E. Camp, Licensed Real Estate Salesperson Greater Rochester (Howard Hanna Real Estate Services) over 2 years ago

Yes, got one of these yesterday..."Hello Sheila, please send me a list of homes that your clients need to get rid of - then I will paint it and you and I can make a big profit"...Real phone call!

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) over 2 years ago

Good morning Sally. You are so right, being so far away from any project is very tough, we learned that lesson a long time ago, after buying a "so called" great deal. Contractors we didn't know took any hopes of a profit away. 

Looking forward to lots of laughs today.


Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) over 2 years ago

Hi Sally.  Bears and bulls making money but pigs get slaughtered.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) over 2 years ago

Good morning, Sally K. & David L. Hanson some folks learn the hard way, and then there are a few who never learn at all.... and the Pats are still undefeated!!! there's going to be a hell of a Super Bowl game in Feb....

Posted by Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty ) over 2 years ago

Smart home sellers will prepare properties to obtain the best price. 

Home sellers are in good hands when they select you as their listing agent.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) over 2 years ago

To be able to hire a common sense agent such as Sally K. & David L. Hanson , one must have the sense to do it. Saying and doing that, the outcome is predictable

Posted by Richie Alan Naggar, agent & author (people first...then business Ran Right Realty ) over 2 years ago

As long as people believe the TV show on flipping homes we will continue to encounter sellers like  you did.  

Posted by Shirley Coomer, Realtor, Keller Williams Realty, Phoenix Az (Keller Williams Realty Sonoran Living) over 2 years ago

Sally K. & David L. Hanson If fault were to be placed on any one for these chapters in misery, it needs to rest directly on the shoulders of the buyers that take a 'bite' from that Get-Rich-Quick Mindset. You know the saying, "A fool and his money are soon parted."

Posted by Sandy Padula and Norm Padula, JD, GRI, Presence, Persistence & Perseverance (Realty One Group) over 2 years ago

Well the Hansons just don't put lipstick on a pig...they do the whole makeover...this seller needs to smell more than roses today!

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) over 2 years ago

Home buyers and sellers in the area should hire you to be their agent.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 2 years ago

There's flipping and then there's . . . being flipped off!  I've seen far too many of these money grubbing geniuses and it's all pigstick!!

Posted by Carla Muss-Jacobs, Principal Broker (503) 810-7192, Buyer Focused ~ Buyer Results ( | Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time) over 2 years ago

Sally and David,

There is no doubt that common sense is obviously not very common...A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding and Marketing (Napa Consultants) over 2 years ago

Sally and David flipping is like any other thing in life a lack of experience combined with a know it all attitude produces very bad results.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 2 years ago

Sally and David- I used to watch some of the shows on flipping and saw many who didn't think about this or were surprised by that. Flipping is a business and you have to know what you're getting into to. 

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) over 2 years ago

Unfortunately, these sellers will probably be sitting on this 'Pig Stick' for quite a while until that little light bulb in their heads starts to shine.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) over 2 years ago

I have seen some beautiful flips and some that needed to go back to the drawing board. It isn't that easy and some people need to stay away.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) over 2 years ago

Hi Sally and David: I popped over to find out what you guys were doing in Biloxi, and now I guess I'll have to go visit Joe's blog to that answer!

Posted by Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents, Put 40 years of experience to work for you (Lyon Real Estate) over 2 years ago