10 Jun FLIPPING HOUSES: A REALITY SHOW
I know a lot of people have an interest in Flipping Houses and investing in Real Estate.
If you want to see first hand what we do, here’s a quick walk-thru of a FLIP project we just started.
And if you’re really serious, I have a training webinar replay you can watch here:
My friends, welcome to 10506 Chatterton. I’m going to do a video walkthrough of not the truck but the property. This is a three bedroom, two bath, two-car garage brick home. I think we got it for about 200,000. We’re going to attempt to renovate it for approximately 55,000 and sell it for about 315 to 325, pushing it a little bit. Thank God we’re in a seller’s market.
We don’t have a lot to do on the exterior. The roof is almost brand new. Actually, this is a property that we took over from another investor who couldn’t, I don’t know what happened to be honest with you. Anyways, we got really good brick situation going on with this house. We’ve got decent landscaping. We’ll probably add some more over here, spruce this up. We got a couple of old trees. All in all, landscape is in really good shape. We’ve got half of a good fence on this side.
The other side of the house is chain links. We’ll probably put some fence over there. We’re not going to do a lot on the exterior other than we are going to repaint it and do a couple of minor repairs. We’re probably going to put a deck in the backyard. We will put some accent color to the shutters. We will put a post here, a wood post, probably a 8 inch wood post there and probably a little tile at the entry way. That is the exterior of 10506 Chatterton. Also provide you with some before pictures for your viewing pleasure.
Here we go. The front door, this is the front porch. I told you about that we’ll probably put some kind of tile here. This is the front entry area, room. It’s going to be a little bit awkward because this house was a little bit awkward. You can see this house has been ripped down to the studs. I’m going to give you the long view, say hi guys.
Originally, this was the kitchen area. I’m standing in the living area. That was like a living area also. We don’t know what that was back there. It was awkward, awkward space in this home. What we are going to do is if you see this blue tape here, we’re going to frame a wall here and here and leave a four foot, you can see a 48 inch opening here where the buyer could put in French doors if they so choose. This is going to be a small office area, small, it will probably be 80 or 90 square feet in this area. It’s in the front of the home. There’s a window right there going into the office. It’s a very functional size office. I think it’s going to add value to the home. It was going to be an awkward space anyways but now we’ve utilized that by adding an office. I like it a lot.
This wall here is going to be completely gone. It will be completely gone so that as you walk in the front door here, you will have an office, and oh by the way, there’s going to be a little art niche here. Then this area will all be open. This will all be open. This will be your living room area. With this wall being closed in and that whole wall will be like your TV, entertainment center area.
The kitchen is going to be in this area. There’s going to be a sink here, a little bar here. Then cabinets along here with the stove, fridge, etcetera, etcetera. This back room back there, this back area is your breakfast where you see that green sheet. This is the breakfast area. This will be standard hall access. There’s a bedroom here and a closet, pretty standard. This home like I said is three bedrooms, two bath. You come down the hall, there is a bedroom here and a closet there. That’s the second bedroom.
There are two hall closets in this room. We were going to steal some of this space for the kitchen, we’re not. We’re just going to leave it like it is. We’re working on a tight budget. We’re trying to stay around 55,000. This is the hall bath. There is a tub area here so it will be a tub and a tub surround. As you come around here, there’ll be a, we’re going to keep the same layout, toilet, sink, cabinets here and not a whole lot’s going to change in there. We are completely repiping this home and all new electrical. We’re replacing the sewer lines to these areas.
I will take a step back. This is the hallway view. I’m okay. I almost fell backwards, tripped on the attic ladder. This goes into the master bedroom. There is a closet on the left, closet on the right. They are both very small. One is actually a decent size but they’re small as per the homes in this area. This is the master bedroom, a couple of windows. If you come around here, this is the master bath. It is on the small side for sure but what we are going to do, this is where the shower area is. You can see that. The toilet’s there, sink’s over here. We’re moving the toilet here so it will go this way. We’re putting a double sink vanity on the back wall with a big mirror. Then we’re going to expand the size, the width of the shower out and the height. This will be a big walk-in shower with a full glass here. The bathroom door will open out because there’s not much space in there.
Last thing that I’m going to show you that we’re going to do is in the living room area, this is the existing door entry to the living room. We’re going to move the door access to here. Cancel this, so this will be a all Wafer living room. We’re going to frame in, you see where that tape is a utility/mudroom in the garage. There’ll be a door there in the garage that goes into the mudroom. Washer and dryer and then a door here that comes into the house. That’s your main entry into the house. I hope all that makes sense. These are markings for our bar, sink cabinets. Then the other side of the kitchen is the refrigerator, pantry, cabinet, cabinet stove, pantry, cabinet, cabinet. It’s going to be by no means a big kitchen but it’s going to be functional and it’s going to get the job done. I’m certain of that.
All right. Backyard, we’ve got a big concrete deck. We’re probably going to demo. It’s like 20 by 20, we’re probably going to demo it about 100 feet of it and reduce the size about 100 square feet. Just plant some sard and put a deck over the other 100 square feet. This is the chain-linked fence I was telling you about. It’s hard to see a little bit. Half the fence like I said, it goes to about right there. A dog just scared the crap out of me. Then we got the Boo Radley house behind us. We are going to put a fence to cover that and barking dogs. Nobody likes neighbor’s barking dogs. Don’t help your showings. Trim some trees and do a little landscaping out there and that’s it. That’s our walkthrough.
We will keep you posted as this project goes along. Working on between 50 and $60,000 budget, probably closer to $60,000. We’re projecting a minimum two-month rehab. We’re going to shoot for two months. It’ll probably be three but that is the target that we’re setting. We’ll be in touch. Bye, take care.