House Hack - Rental - Reno - Flip Jacksonville Florida

6 Replies

BP'ers

House Hack - Rental - Reno - Flip

We need a term for this type of transaction.  In my case it has played out over 15 years.

I bought this house over a decade ago and live in it with the plan of eventually renting it out. I moved out and and rented it to a non traditional renter, who put down a huge deposit. He was a fine tenant and was regularly late paying the rent, but did not complain about paying the late fee. About a year and half ago he decided at age 30, he wanted to be a GANG-STA, not sure if that is the correct spelling, but you get the idea. He and his buddies trashed the place in a matter of 3 months.

He moved out and we renovated.  It was an outlier in my investing strategy and no longer fit my profile.

The goal was to make it as neutral as possible while using a modern color scheme.

New floor

Paint - Walls, Shower, counter top, fire place.

New bathroom

Updated the master bath

New appliances

It listed it and sold it on MLS in 5 days with multiple offer over asking. I did not take posting quality photos of before, only images of the damaged areas, walls floor, etc.

I sold it for 169k

Reno costs 16k

Some of the pics were all taken on an iPhone in portrait mode.  I could not figure out how to turn them right side up. 

He trashed the place 

There were holes in the tile floor 

Not sure what happened to the front door?  That is not the one he rented the place with.  Notice the screws holding it in place.

AFTER RENO

Master Bedroom - The wall color is a modern grey

Master Bath - updated counter tops

Master Bedroom

Living Room - Fireplace is a focal point of the house and really pops when you enter the house

Kitchen - new appliances and updated counter tops 

Guest Bath - updated 

Front door - spent a fortune on it, but worth every penny in curb appeal

Inside view of door 

Originally posted by @Larry Fried :

HRR - Flip (pronounced her Flip)

Nice work.

 That is genius, I love it! 

I knew the creative people on the site would come up with something.

If it does catch on, you will have to include me as a footnote to the story of how you created a new category in RE investing.

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