Flipper/Rehabber · Fort Lauderdale, FL · Member since 2014 · 77 posts · 38 votes
Hey everyone! I have not been on here for a while due to this HUGE project! It is finally completed! This one took a little longer than expected due to some surprises but all in all it was a great rehab. Now to get it sold and on to the next one! The house is 2400 SqFt 3 bedroom 2 bath home.
First the numbers......
Purchase Price - $130,000
Renovations Total - $59,076.43 ($64,597 was my budget)
Great Job! I looks very good... I can't help but wounder if it is lacking cabinet space for a $300k houses? Maybe thats just my personal thought. But that slab of granite stands out and will steal the show. Keep us updated
The kitchen has a very large pantry, its about 6 feet wide and 20" deep with 5 shelves. I think it will be adequate for storage purposes. I went more esthetics's by removing the wall and keeping it open.
Fantastic job rehabbing! Can you tell me as a newbie how you purchased this house? Did you use hard money, private, etc.?
I have been very fortunate in my Real Estate career as a Realtor and finance my own deals. When I started I pulled a line of credit on my personal home which was paid off and have a Credit card with a very high limit so even if I get tight on cash I can pull my line and complete a complete rehab in parts and labor on my Credit Card.
Hard money would be an option on something like this. The margins are plenty high and most any investor would be interested I would think.
Interlaken, NJ · Member since 2013 · 3 posts · 0 votes
12y
Hi Joe,
Nice job on the rehab and even better on the profit potential. Where was the project located and how did you go about finding and acquiring the property. Myself and my partner have been looking for a property for months and so far we have been outbid on 3 homes. What do you suggest?
Rental Property Investor · Louisville, KY · Member since 2008 · 342 posts · 123 votes
12y
Great, job, it looks really nice. It's amazing how a out of date dumpy looking house can be turned in to a modern looking stylish nice house.
My wife says a large pantry is worth it's weight in gold :)
I am hopefully picking up a rehab this summer so it's great reading about projects that others complete. I hope you let us know how the sales and final numbers go.
Real Estate Investor · Elk City, OK · Member since 2014 · 73 posts · 27 votes
12y
Awesome Post.. You have great style, Top notch.. Did you raise the ceiling height in what looks like the Great room? I Have a few older rentals in my portfolio I would like to remodel to increase the quality of tenants & rents...