Episode 78: [Rehabbing] Rehabbing with Jason Vickery and Peter Ryabikin

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Show Notes

Jason has been in construction over 25 years.  He started out of highschool working with his dad on misc projects and went on to own and operate a cabinet company for 12 years.  After closing the company he started lending to rehabbers for Gap funding and learning about this thing called flipping and started flipping in 2010.  Jason has been flipping ever since and joined up with Peter in 2014 and have flipped or wholesaled 50 + deals together.

Jason is married with a split family of 4 kids. All who are very active in sports, Competitive Dance, Swimming, Gymnastics, and basketball and football.  They just moved into their new home they had built a couple weeks ago.

Jason and his wife Megan who is a Vancouver school Principal enjoy traveling together, are very active in Crossfit at their local Box.  

Share your backgrounds and how you started flipping houses and working together.

Been in construction since 1993 owned a cabinet shop for 12 years build a few houses, Started in 2009 lending gap funding to a rehabber. Started doing all the work on flips in 2010-13 flipping about 15 in that time, Peter’s roofing company did all my roofs and we became friends during that time. We partnered on our first deal July 1st 2014 closed 3 deals that year together 2015 we did 11 deals, 2016 completed 22 deals wholesaled 10 and started a wholesale business we are partners on.

What are your goals for 2017?

Goals are 50 flips we have 25 on the books so far this year Plan is to wholesale 50 also min

Sold 12

Pending 5

Rehabs 4

Closing within 2 weeks 4

What are your favorite and/or most profitable types of houses to rehab where you are?

We love 2/1 800sqft houses we are in an out within 3-4 weeks

What do you do to prepare to start rehabbing before you close on the purchase?

We make sure we are ready to start the rehab the min we record we have a crew there to start and usually have house demod within a few hours.

Walk us through your rehabbing process from determining scope of work to lining up contractors to getting it ready for sale.

My business partner is my GC so he keeps our numbers in line.

What issues have you encountered when trying to sell rehabs?

Squatters homeless

Appraisal issues

Portland is a really hot market so our product sells within 2 weeks max most within the 1st weekend

Links

YouTube.com/FlippingJunkie

We Buy Houses in Portland, OR
Investment Properties and Wholesale Deals in Portland, OR

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