Drywall/ Plaster Repair In the city where I do most of my rehabilitation work, all the houses are 90 to 100 years old. Cracks and holes in the plaster are common. Often, holes in ceiling plaster are the result of water infiltrating either from the roof, or from a split plumbing line. Holes in walls are often the result of vandalism, but could be the sign of more serious foundation issues. Once the root cause is fixed I normally patch the area with inch drywall. Perform this task by placing a piece of inch drywall over the hole (lathe must be present behind the drywall). Secure the drywall to the hole with at least 2 drywall screws. Insert your rotozip near the edge of your hole and cut the drywall by pressing the rotozip blade against the remaining plaster. Once your piece is cut, secure it with multiple drywall screws, mud the gaps, tape, re-mud then sand to a smooth finish.

Basic Water Pipe Repair Many of the foreclosed homes that I encounter have sat over the winter and the cold weather has burst water pipes in the basement and walls. Usually the hardest part of the repair is finding all the leaks. You do this by turning on the water, listening for falling water, then visually inspecting where the water is coming from. Once you find the leak, cut out the old section of pipe and cut a section of new pipe to replace it. Rough up the end of the old and new sections of pipe with your sandpaper. Apply flux to each section of pipe and to a coupler that will be used to join the pieces. Put the new section in place. Heat the coupler with your butane torch and apply solder around the edges of the coupler. The flux will melt creating a vacuum inside the coupler and drawing the solder inside. Once it is sealed all the way around, allow the solder to dry and move on to the next leak. If you are worried about using a butane torch on this project, ask your hardware professional about Shark-Bite fixtures.

Drain Repair Drains work by using the force of gravity to expel wastewater down and out of the house. Improperly working drains can be the result of improper pitch in the drain line or a clog. Clogged drains are a very common problem. When a working drain gets clogged, Draino or a quick snake will often do the trick. If that doesn't work, unscrew the drainpipe and inspected for clogs. If a clog is found in there, simply remove the clog, replace the drain and test the drain. In a vacant house, a clog can become impenetrable. If you encounter such a clog, you need to cut it out and replace that section of drain. Using a saw or grinder cut out the clogged section of pipe. Once the clog is cut out, cut a similar length of PVC pipe to replace it. Either connect the new pipe to the old with PVC connectors or with a fernco connector. If you use the PVC connectors make sure that you clean the old pipe thoroughly and apply PVC cement to ensure a proper seal.

Replacing Light Fixtures Be sure the power is off to the fixture by checking the wires with a voltage meter. Remove the old fixture. Strip off a section of the wire casing and attach your new fixture with wire nuts and electrical tape. Insure that no unexposed wire remains. Since each fixture will come with its own set of instructions, be sure to read those instructions thoroughly to insure proper installation. Electricity can cause severe injury if you do not follow instruction implicitly.

Window Installation Carefully remove the old window. Be sure not to damage the old wood frame and the window sill. Once the window is removed place wood shims on the exterior of the sill and level the shims. Secure the shims. Place the new window in the opening. Place more wood shims along the sides at the top, middle and the bottom. Once the sides are secure, make sure you can easily open and close the window. Fill the gaps around the window with expanding foam insulation or fiberglass insulation.

Refinishing Wood Floors First remove the old carpet. Then remove all of the tack strips, staples, nails and quarter round molding. Once the floor is clean, run your drum sander with the grain of the wood. It is very important that you keep the drum sander moving at all times though. If you leave it sit it will quickly eat into the floor, leaving the finished floor wavy looking. Start with 36-grit sandpaper, then 80-grit, and then 100-grit. Once the main body of the floor is sanded, do the edges with an edge sander using the same grits of sandpaper that you used on the main floor. When all the sanding is complete, sweep the floor, and then vacuum the floor. Apply your choice of stain or apply polyurethane directly to the wood. Finish with 2-3 coats of polyurethane. Replace the trim molding along the floor.

Laying Tile The key to a good tile project is a good foundation. Whether you are tiling a wall or floor, the foundation must be plumb or level and the surface must be flat. Start by removing the old coverings whenever possible. Once the old covering has been removed put down a cement backerboard over the entire area to be tiled. Be sure to secure the backerboard with screws designed for this application. Fill in the joints of the backerboard with mortar. Begin tile installation by troweling on a thin application of mastic over a three to four foot area. Set the tile in place and push gently to secure the position. Place a spacer next to the tile and position the next piece. Continue in this fashion until the tiles are all in place. Allow the mastic to dry for 24-hours before grouting. If you are laying a natural stone tile (travertine, slate, marble) be sure to seal the tile prior to grouting. If you don't, the tile will appear hazy. Remove all tile spacers. Mix the grout and push the grout into the seams using a rubber float. Immediately wipe up excess grout with a damp sponge. After an hour or so, wipe down the tile with a paper towel or piece of cheesecloth to get rid of the haze on the surface.

Texturing a Ceiling To get a perfectly textured ceiling, dip a paint roller with a long (4 foot) handle into a bucket of top-coating mud. Roll the mud onto the ceiling. Push your texturing brush into the mud and pull back quickly to create a random dimple pattern all across your ceiling. After it dries finish by painting with a white ceiling paint or a color to complement your walls.

Painting a Room Prior to painting any room, always inspect the surface of the walls. Take the time to fix any small pinholes or cracks with spackling paste and sand to s smooth finish. Once the walls are smooth, look for gaps between the walls and the trim. Fill the gaps with caulk and smooth the caulk with a wet finger. Paint the trim first with a white semi-gloss paint. Next, apply one coat of latex primer to the surface of the walls using a roller. After the primer dries apply your paint. A flat latex paint is the best choice for hiding small imperfection in your walls surface. Two coats of paint will generally provide complete coverage. To edge the walls, apply painter's tape to the trim, and brush the paint onto the edges. After you have painted the edges, remove the painter's tape and you're done.

Landscaping The exterior is the first impression people will get of your house. Take time to remove all the overgrown 1950's era plants and replace them with smaller more modern looking plants. After removing the old shrubs, cultivate the bed and mix in organic materials like manure, compost or peat moss. Arrange your new plants on top of the beds. Once you are happy with the arrangement, remove any burlap or plastic and plant them. Be sure not to bury the root balls of shrubs. You want to plant the shrub with just a little of the ball showing above the ground surface. Follow spacing instruction on the containers so that your new landscape doesn't look like overgrown in two years. After planting the large landscape in this fashion, take time to plant flowers around your new plants and enjoy your new look.

Buying Realtor In order to get the best deals on the market, you need to have a realtor who is familiar with the foreclosure market. They work directly for one or multiple banks in the area that are trying to sell distressed homes. These realtors can give you advice on the market, advice on how to bid for a property, and they often have connections with a Loan Officer who can get you financed in today's market. Ask for referrals from people who buy or sell homes.

Mortgage Professional You need a mortgage professional who will be honest with you and work quickly for you. Today's mortgage market is different than it was one month ago, six months ago, a year ago. Your mortgage professional must be up to date with the change in the market. Many times the mortgage professional at larger lending institutions will be more capable of adjusting to this market and the changing needs of it. I do not endorse any lender over another, but I do get financing from Wells Fargo and Countrywide, two of the nations largest mortgage lenders.

Selling Realtor If you get the right buying realtor, they will not have time to sell your home. He will be too busy listing properties for the bank. You want to find a realator that will get you the most money in the shortest time. This is a business where if a house must sell quickly to make the maximum amount. You want a realator who can get you the right price, too low you lost money on the sale too high the property will sit costing you interest and utility payments.

Home Inspector A good home inspector can keep you from making a big mistake. Simple tests can keep you from buying a home with a mold or asbestos problem. It is better to find out now than after you spend twenty thousand remodeling the home.

Contractor As the investor, a lot of what you need to know to buy wisely is learned by working with your contractor. The contractor controls the pace of work. The contractor also spends your money for you. They help you to develop and adhere to a budget. Some people walk into an investment property, see holes in the walls and ceilings, and get scared off. I walk in, see those same holes, and know that for $400-$1,000 there are no more holes in the walls, the plumbing is repaired and I can move onto another phase of my renovation.

Suppliers If you decide that you are going to make a living flipping houses, here's a hint: Don't buy retail! Home improvement stores like Home Depot and Lowes charges 20-40% markups for nearly every product on their shelves. To save money on supplies, you need to find a wholesaler and establish an account with them.. Typically you can find a wholesaler by Googling for it or in the phone book under Building Supplies - Wholesale. To get an account, you need a company name, a credit card and a bank account, that's it.

CPA Now is not the time to buy TurboTax or do your own 1040EZ. In fact the 1040 will never be EZ again. You have profit and loss from outside of your normal job. You will need the help and experience of a CPA who is familiar with real estate investing. Also, don't wait until tax time to find your CPA. Find one early, interview them and get their advice months ahead of time. This will make the tax season a whole lot easier and less stressful.

Attorney Not always an essential member of the real estate team, a real estate attorney can help you avoid some land mines as you grow your business. They can help you decide whether you should incorporate, form an LLC or go it alone as a sole proprietor. A real estate attorney can save you money on title work, can draw up rental/ lease agreements and can advise you on tax strategy when buying and selling your real estate.

Insurance Agent Like all other team members, it is key to find an agent that you know and trust to handle your real estate insurance needs. You need to ask tough questions to your agent and consider what your exposure will be to loss from fire, flood, theft, or injured workers/ tenants. If your policy leaves you exposed in any one of these major areas, your work could all be done for nothing.

Friends & Family If you feed them well, provide a frosty beverage or two, and don't overwork them, the friends and family work crew will have fun, make your job more fun and most importantly work for free. Jobs like light demolition, painting, cleanup and many yard projects can be handled by anyone who owns a home.