Possible Inglewood Flip...

[Anthony Johnson]

Hey BP,

My Wife and I are thinking of selling our property in Inglewood, CA

its a SFR

3bed + 1bath

1,015 sqft and 

6,747 sqft lot size

built in 1942.

Last August it appraised for $365k...AS IS! Selling it for that price would generate a profit but I think we could get more if we fixed it up first. By adding an additional bathroom to the master and upgrading the existing bathroom, interior/exterior paint, upgrading the landscaping, the property should sell for more. Selling this property would generate capital to fund future REI's.

Issues: NO Capital, NO experience, NO Idea of cost!

I'm hoping to get some wisdom/guidance from the network.  I'm certain you know more about fixing and flipping than we do.

[Jonathan Wilks]

Sounds, like you have a great possible opportunity to increase your profit on this investment.  A bathroom will usually cost between 15k-25k depending if you hire a contractor. Some of the work you could possibly do your self and the most bang for your buck will come from sweat equity.  You however will need to check with the city if you can add a bathroom, and you would start building a plan for what the bathroom will look like framing, materials and so on.  After creating the plan it is just a matter of completing it creating a timeline, and evaluate what work you are comfortable doing and what you are not. I would also recommend going to other open houses in your neighborhood to see what others are doing and what the price of those houses are for sale for. It will give you a better of idea of what work and materials you may need to use to increase the value of your home.