BiggerPockets

CA Rehab Project Part II

Monday, June 15

I was scheduled to close today with the Granada Hills, CA REO Rehab flip, as all the funds have been wired into escrow (last week), and all the documentation has been signed (no loan docs as it is all cash). Unfortunately, the people working for this bank and their escrow company have their heads up their (well you know the saying). My broker just emailed me the HUD which he JUST now received (we have been requesting it for a week now) and stated that in ALL his years dealing with REO's, these people are the biggest idiots he has ever come across.Oh well, guess we close Tuesday (I hope).

So I planned on doing some of the exterior demo today but could not as I don't officially own it yet, but I went there anyways to get a head start. First thing I did was water the lawn (on the banks dime!) and then I started cleaning off the roof which was full of leaves and pine needles that appear to have been up there for several years. I used a large push broom for some, but the best was the blower which blew that crap right off the roof. It was kind of fun, but dusty.Next, I trimmed the many tree branches which were hanging down over the driveway, over the roof, and over the front yard. They were low enough that you could hit your head on several of them. After that, I cleaned up the area, stacked the branches in a nice pile and filled up the trash cans with the debris. I spent about 2 1/2 hours there all together and the end result was a much more appealing look from the curb. You now have a clear view of the house from the street, as before, the view was blocked by the low hanging tree branches.

Assuming we close tomorrow, & it does not rain, I will start ripping off the wood paneling on the house in the back yard and hopefully get to the front as well. Once complete, the window installers go first, then the stucco guys go next. The two front windows facing the street are going to be ripped out and I will have the areas re-framed to hold a 3' X 5' replacement window rather than the long vertical existing ones. It will make for a much better curb appeal from the exterior and more wall space in the two bedrooms on the interior. I also will have the roll-off dumpster delivered so that all the demo trash can be tossed into there for easy storage and haul off.If it does rain, I will start on the family room wall demo work & the dining room wood paneling removal to get a head start on the interior. If I have time, I will also start on the bathroom demos which will involve removing the shower doors, removing the tub, removing the existing floor and tub tiles and removing the existing old and ugly cabinetry/sinks.

Photos and videos to follow. The video footage starts tomorrow. I am very exited about that. Videos will be posted here on my BP blog as well as on our website/blog - stay tuned!

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

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