Hoarder house Flip after not being active on here for 3 years!

Hoarder house Flip after not being active on here for 3 years!

Flipper/Rehabber · Souderton, PA · Member since 2015 · 11 posts · 2 votes

I decided to sign back in to my account today and can’t believe it has almost been 3 years since my last log in! Have been meaning to share my recent progress in house flipping because I used to cruise these forums a ton starting out. I learned a lot reading them so figured I’d post now in hopes that it helps somebody some how. 

with the budget I had available, finding a house to flip took making a lot of offers and being turned down a lot. I made up my mind that if I couldn’t buy and fix up a house and be sitting at 75% of the resale value I wouldn’t buy it. Eventually I was able to find a hoarder house being auctioned that I think no one else wanted to deal with. So in September of 2018 I finally got a place To flip. It took 6 30 yard dumpsters just to get rid of the hoarding trash. I did all the work on the rehab except for the new heating system, spray foam, and roofing. It took me about 8 months to complete. And was able to get the sale to close at month 11 of owning the property. In the end the project took a little longer than I expected and I underestimated just how much junk was packed in there. But it worked out and has enabled me to continue flipping.

I bought the house for 52k. Renovation cost 54k. after realtors fees were taken the house brought in 185,250.

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  • Mindy JensenPro Member
    BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
    5y

    Welcome back, @Conrad D.

    I'm fascinated with hoarder houses and flips in general. What did the hoarder junk consist of? Was it trash or stuff? Did you go through any boxes or just toss it all? Where did the hoarders go? Were they removed prior to the auction or did you have to deal with an eviction?

    What did you do to the house? The after pics look nice, did you do everything new? Did you POCKET $185k or was that the total sales price?

  • Flipper/Rehabber · Souderton, PA · Member since 2015 · 11 posts · 2 votes
    5y

    The property had been vacated before the sale. It was stuff mixed with trash which seemed to make it harder! Anything that wasn’t too gross I donated to local places. I did find some things like silver coins and other types of collectibles. That part made it fun but also very frustrating haha.. It caused me to look through each box and make sure I wasn’t throwing anything valuable away. So that definitely made the clean out time take longer. The treasure hunt at times made it fun. But looking back I’m not sure it was worth the time.

    The house was an extensive renovation. The second floor was unfinished. So I turned that into a bed room. Electric needed updating, A new heating system, new plumbing ect. Every time I went to Home Depot and Lowe’s I checked out what was on clearance and by the end of the project it was crazy how much of it I got that way. All my flooring, tile, kitchen cabinets, I also did most of the work myself to keep costs down. But it was basically a new house when finished. The 185 was after all fees at closing. 

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