So when we started down this fun little path of gold plated roads we figured we would knock this out in 3-4 months, sell the home for a crazy amount of money and start swimming in gold coins like Uncle Scrooge in Duck Tales. Besides…..that’s how TLC portrays flipping homes! So the reality is it took just over 7 months, and we spent more money than we projected. The final breakdown will be very soon, here is the home after we were done.
Flipping Reality…….Kitchen
One of the ugliest parts of this home was the kitchen. It was very dark, little light, and completely useless. No one would like to cook in this….
So now it’s time to break out the sledgehammers and get to work! We decided to remove an old window on the back wall and replace it with a slider to walk out onto a new deck. Also since the kitchen was large enough we decided to build out a nice pantry.
To help the overall feel of the home we opened up the wall between the kitchen and living room and made it a half wall. This way there was still usable wall space but gave a nice open feel. We didn’t want the kitchen to feel cheap so we did a staggered height cabinet arrangement with crown molding to give it some character. I think the end result speaks for itself….
Flipping Reality……Interior
So you already saw the dramatic changes we did on the outside of the home. The transformation for the interior was just as dramatic. Doing the simple things like new doors and trim make a huge difference. We took it a step further and made a half wall between the living room and kitchen and added a new sliding glass door and built a pantry. I think you will agree it was worth it!
As you can see some great progress was taking place. The end is near and now its time to add the finishing touches. Just wait until you see the kitchen!
Flipping Reality…..Completed Exterior
Happy days are here again!!
The day we finished the outside of the home was an incredible feeling. We literally went from the ugly duckling on the street to the home everyone wanted to be in. The transformation was long and a lot of work but the end result was completely worth it. Have a look for yourself!
So coming up next will be the interior. That was a huge transformation from start to finish, from making a half wall, all new trim, doors, refinished the floors, new bathroom, kitchen, the list was endless. It wont be too long and I will give you a breakdown of the numbers, and how we did with our first flip.
Flipping Reality…….Exterior
The outside of this was home was just ugly! From the asbestos siding, the green paint, and just overall old look a huge face lift was in order. Time to roll up our sleves, get the scalple and start cutting! The work to be done included:
- windows
- siding
- gutters
- deck
- enclose carport for garage
- landscaping
Before and During Pics
Just wait until you see the exterior completed!
Flipping Homes…..The “to-do” list
So now we have our home, and the fun begins. First we have to figure out what changes we are going to make, something things are “must haves” others are “would be nice”. Here is a brief breakdown of what changes are to come:
- new kitchen
- new bath
- new flooring
- new windows, doors, trim
- build deck
- finish basement
- possible main floor laundry
This window needs to go! A nice slider would be much better, and a great selling feature.
Future deck to go here, also the siding will get the ax, vinyl siding is much better for resale.
The living room is on the other side of this wall, and feels very closed off. Instead of tearing out the whole wall building a half wall gives you an open feel but still retains valuable wall space.
The new money maker…..or pit
Welcome to our first home. Located in Fenton, in San Luis. It was a good home to start with, 3 bedrooms, 1 bath, full basement, and near the high school. Purchase price in 2006 was $127,900.
Think about this……we paid $127,900 for this gem! This is not Detroit, or California…..no $50,000 homes laying around for a quick flip. Needless to say we were pumped and ready to get to work, we figured it would take realistically 3 months to do this. We would do all the work our self, none of us had a 9-5 so that gave us a lot of flexibility.
Stay tuned for my next update!
Flipping Homes……Real Reality
So here we go again, another blog about flipping a home. Well this isn’t just another person telling you how rich you will be, how little work you will do, and how you can sit back and watch the money roll in.
This is real, a life lesson of sorts.
Back in 2006 my wife and I were watching those great “reality shows” about flipping homes and wanted a taste of that. So we talked it over with her cousin and husband and figured we could do this. I have knowledge in real estate, my wife and her cousin are great with decorating and colors, and the other husband was a contractor. How easy will this be! Far from it.
Sit back for a REAL lesson in flipping homes. I will talk about the steps we did, the mistakes we made, and the lessons we learned.