It's a Jungle Out There

So, after switching companies ( I went to Re/MAX Results) and hiring an awesome new assistant (more to come on her), I am back to blogging. I fell off, not thinking anyone was reading them. I couldn't have been more wrong. Problem is, since I am not on the job site everyday, the fun hi jinxes the boys get themselves into seem to be less. Or maybe, they are reporting about them less? Or maybe, just maybe... the boys are not having anymore issues. Things are sailing along as smooth as a boat on a lake of glass, NOT! That couldn't be the answer.

True,  Stärke, Inc. has come a long way, and the guys who work there have set into a routine. Not to mention, they are able to handle much more work, and do it with more precision. However, rehabbing/renovation in itself is a HI-JINX. You never know what is behind the wall, what the previous owner had rigged himself, what lies beneath, what lies in the fridge, who has hidden what where (the things we have found, lemme tell you) and so on. So, here I am. Stuck between trying to be entertaining and provide real substance in these blogs.

The funniest "Incident"  I have to report right now is the winky-dink that the recent lawn person pulled. He was getting paid to do the lawns, twice a week. Which he was kind of doing. Sorta. OK, not really. Not thinking, we would drive by the properties and look at the lawns and make note. They looked OK, we knew he wasn't there as often as he said, we knew that. Guess what was happening? He was only  mowing the FRONT lawns. Mean while the backyards of properties we were trying to sell looked like a cougar could come out of the grass and snatch your face off. Lesson learned here? Supervision is a constant must in property management, rehabbing, renovations and the like. While the cat is away, the mice will play.

Next Blog: I will introduce you to the newest member of  Stärke's inventory, who is almost ready to hit the market....SHE'S a BRICK HOUSE. Mighty, Mighty in Tower Grove South.

Soon to be followed by our "NEW PROJECT"- Hopefully, I can get the guys to take more pics on that one as they go.

Meet Mini...A very affordable option in Tower Grove South

I am sure you all feel that naming the houses is a little "campy" or strange. I myself, find it to be not too much of a stretch. What I mean by that is this...Every house has a personality and person to fit each of its characteristics and flaws. Houses and neighborhoods can have a soul. Neighborhoods are given a soul by its residents, parks and businesses. Houses change over time and almost always carry traces of their previous tenants with them.

I decided to call this house Mini because  architecturally it's a Mini Castle bungalow. Mini Castles tend to be my favorite bungalow style. While they are not quite as intriguing as the Gingerbread from the outside, they are way sexier, to me on the inside. Minis have awesome floor plans, are usually more spacious and have rockin' ceiling height. The tall ceilings make them look VERY much LARGER and allow for more decorating options.

This mini, the Mini was part of an estate. The house was relatively in good shape but, a whole lot of ugly. On the interior it was 1970's glam.  She had mirrored walls with gold veins running through them, powder blue plastic bathroom, ugly carpet and the trim in some places had been removed. Not many buyers these days appreciate that kind of style. So, needles to say Stärke will be renovating this gal from top to bottom and then try to find her a new owner. Could it be you?

Been Looking for those hard to find replacement parts for your historic home?

Recently, I moved...Needless to say that twice in less than 2 years was a bit much for this girl. I definitely have a new found sense of empathy for my clients who are moving. After my divorce, I suddenly found myself with little, or no furniture. Determined this time around to find pieces that I really loved, instead of microfiber crap I headed to Cherokee Street. Cherokee street has tons and tons of antiques and vintage items. While purchasing a white marble side table I found tons and tons of Stain glass windows, door knobs, doors and more. If you are looking for that hard to replace vintage door knob, hinge or glass window head on over to Cherokee. Remember, these shop owners are used to bargaining. Never pay full price just on principal! :)

Meet Mimi, our newest Tower Grove South Stunner

Mimi, is one of Stärke's newest acquisitions. This little bungalow was found quite by accident, but was too good of a deal to pass up. Shortly after making an offer on Mini, (whom you will meet in the the next blog) Mimi dropped in our lap. Usually, the owner of  Stärke, my broker, myself, other agents and anyone else who wants to help out goes to view HUD homes, foreclosures, read emails from wholesalers, make phone calls and drive up and down the street to find good houses. This time, things were much simpler, a letter came in the mail. Stärke's owner received it because he has bought other distressed properties in the area. Somehow, a wholesaler from California had gotten his home address from tax records and asked if he wanted to buy Mimi. I was skeptical, as an agent I get letters like this all the time and more often than not they just want you to buy a membership to their awesome list. At the urging of my client I made the call. The next day we were viewing the home. Mimi is on a wonderful block, had newer systems and was even habitable in it's current condition. What was even better, that as far as we know we weren't in competition with other rehabbers. Closing went smoothly and she is currently begin rehabbed. Mimi and Mini will be the subjects of quite a few more blogs. Follow these wonderful houses all the way to their sale.

The Darth Vader of Real Estate

Bidding on, securing, closing and rehabbing foreclosure properties aren't the only challenges that agents and rehabbers face. Getting in to view these properties often poses problems as well. I have what I like to call a survival kit for foreclosures: Heavy Mag Flashlight with LED guts (much brighter), Screwdriver, Cell Phone (for emergency calls) and often times a Vent mask/Respirator. The last item that was listed, the vent mask is the most important for me. I am deathly allergic to mold and often times foreclosures are crawling with it. What happens is this: 1.the house sits vacant 2. thieves steal the copper 3. thieves don't turn off the water before stealing plumbing and finally, 4.mold grows all over the place. Most foreclosure agents and banks NOW make people aware of the presence mold and you have to sign a waiver to view the property. When I have to sign one of these waivers, I borrow the mask from Leo at Starke go right in.

Funny thing is, mold isn't the only thing that you have to get the mask for. Sometimes, dirty people live in the houses and just don't take care of things. Starke's new little gingerbread in Tower Grove South "Mimi", had a smell that we just couldn't find the source of upon initial inspection. Well, he did find the smell after purchase, and it was the fridge. Needless to say, he had to use the vent mask to clean it out. I had a friend that helped clean up Katrina and she was told, "Whatever you do DON'T OPEN THE FRIDGE. You know what people do when they are told "don't"? Someone always DOES.

The fridge is now cleaned out, and has been removed from Mimi. Shortly after that the entire kitchen was removed. More to come on that!

The Gamble...

Well, it has finally happened, there are two new projects on the books and a possible third. After what seemed like a long lag, things are finally rolling again at STARKE, Inc. These new houses are awesome, each of them are in the Tower Grove South Neighborhood and very unique. How we happened upon these properties is the same old story, LUCK and a bluff. I say "luck" because you have to be the one to see, go look and then act before anyone else. You also have to gamble and try to make your offer the most attractive without cutting too deep into your margins and overpaying. The Mini Castle whom we will call "Mini" had multiple offers on her as soon as she hit the market. In fact, my sisters friend who is also a rehabber was viewing it the same time we were. Running into other rehabbers in a prospective property is kinda tense. I like to compare it to an old fashioned stare down in a high stakes poker match. The goal for each rehabber is to not give away their position on the property and win the pot.

Negotiating on an in demand foreclosure is truly a manipulation of many factors. Time, you have to be the first one to draw and the first one to close. Money, you should always try to have cash. Relationships, it helps to know the person who has the property up for sale. If you have worked with the person before you know what they like to look for in an offer. Knowledge, your rehabber has to know what they are looking at and be comfortable with it, because more often than not you won't be able to have proper inspections. I work with a rehabber, STARKE that usually only has one inspection done....the sewer camera. In the sewer is where real dangers to profit margins lie. If you as a team know these factors and can work them, you can end up with awesome properties.

Over the next few weeks I will be introducing you to the new properties, new regulations and new rehabbing shenanigans as we move forward towards two new completed projects!

Terra and her final photoshoot!

Well,  I just got back from Israel and Terra sold right before I left. I was in a hurry to get it closed and complete, so I didn't have time to update you all. As a matter a fact, since she went under contract before hitting the MLS or having any cool staging I didn't have time to throw one of our rockstar style parties welcoming the new beauty to the neighborhood. Don't worry though, STARKE is working on 2 more in the neighborhood and I promise we will have a wine/vodka/BBQ free for all at one of those properties.

Now that it is closed I can tell you that this was located in the 4000 block of Wyoming, another hit for Tower Grove South! Final selling price? $196,000

Here are her final photos for those that want to see:

http://maris.rapmls.com/scripts/mgrqispi.dll?APPNAME=Gstl&PRGNAME=MLSLogin&ARGUMENT=zj67ndlvoAJJl0NDuQgXVOya7PHTzxKyqZ4hhlvpYkU%3D&KeyRid=1

I promise more shenanigans are to come! We found porn in the most recent rehab. No, I am not going to show it to you.