My first rehab in Orange County

My first rehab in Orange County

Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes

Hello everyone, here are some pics from my first rehab experience in Orange County. Fortunately for my wife and I, we feel we were very fortunate to have a smooth experience and not too many major issues. It was a pretty full rehab, remove popcorn ceiling, new floors, completely remodel kitchen, remodel both bathrooms, scrape all the walls because we couldn't just paint over, take out partial wall from dining to kitchen. But nothing like Aaron McGinnis' "Sinkhole" property :).

I forgot to take before pics so I am using the stock mls pics of the place. I have to say the mls pics made the place look much better than it actual was. 1370 sq ft, 2 bed / 2 bath.

[img]IG13014758_3_2[/img]
Living room, popcorn ceiling, mirror above fireplace.

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Living room, broken mirrors on right wall.

[img]IG13014758_9_0[/img]
Dining room, more mirrors, did I mention this place had some mirrors?

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Kitchen, built in 70's style dining table attached to left wall. I think tile floors.

[img]IG13014758_6_0[/img]
Bathroom #2, they didn't show the shower on right but it was pretty bad. Again, this pic made it look decent.

[img]IG13014758_4_1[/img]
Bedroom #2, pretty standard, shaggy carpet, popcorn ceiling.

They didn't have pics of master room and master bath. Again, I forgot to take the before pics.

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  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y

    I'm not sure why I can't see the pics. When I was posting this, I was able to see it during "Preview." Any suggestions would be greatly appreciated.

    Thanks.

  • Contractor · Signal Hill, CA · Member since 2013 · 69 posts · 11 votes
    13y

    Try pasting ths around the direct link

    [img] link [/img]

    Nice work. Any more details?

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y

    Thanks Cagney Moreau, lets see if this works.

    [img]http://www.flickr.com/photos/calicene/8707747131/[/img]

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y

    I thought I was posting the pics correctly but guess not. Sorry for the issues, I'll keep trying until I figure it out.

    [img]2013-03-28 13.04.08[/img]

    New cabinets in kitchen.

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y
  • Contractor · Signal Hill, CA · Member since 2013 · 69 posts · 11 votes
    13y

    your first attempt is correct exept the link should end with .jpg

    on flickr I right clicked the pic and selected "copy url" from my choices.

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y


    Living room, popcorn ceiling, mirror above fireplace.


    Living room, broken mirrors on right wall.


    Dining room, more mirrors, did I mention this place had some mirrors?


    Kitchen, built in 70's style dining table attached to left wall. I think tile floors.


    Bathroom #2, they didn't show the shower on right but it was pretty bad. Again, this pic made it look decent.


    Bedroom #2, pretty standard, shaggy carpet, popcorn ceiling.

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y

    Cagney Moreau - thanks again, finally got it, only took me 3 days :)

    Here are some during pics:


    New cabinets in kitchen.


    Living room


    removed sink, counter, and old cabinets


    removed old shower tub


    bedroom #2, not too much here, scraped wall, removed carpet, didn't touch the windows thou.


    bathroom #2


    small hallway leading to bathroom #2

  • Rehabber · Alexandria, VA · Member since 2011 · 446 posts · 171 votes
    13y

    Nice job! Looks like a nice, easy flip for the first one. One thing to consider in the future is to have a little contrast between the floor and the kitchen cabinets. They look good but I think a darker wood for the cabinets would have looked a little better.

    On to #2?

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y

    And here is the finished product:


    Living room with new floors.


    Dining room, with new ceiling and recess lighting


    Kitchen, granite counter top, extended the cabinets made the kitchen longer and bigger.


    Removed a wall from dining area to kitchen

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y


    Bedroom #2


    Master shower


    Master Bathroom

  • Rehabber · Alexandria, VA · Member since 2011 · 446 posts · 171 votes
    13y

    Your wife has that look. The this-better-sell look!

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y

    Thanks Glenn Espinosa, we didn't have much choice regarding cabinets with the budget we had, but my wife did all the designing and she decided with lighter floors than darker. This condo is on first level and doesn't get too much natural light. She was aware of the lack of contrast but ultimately decided it wasn't too bad.

    Looking for #2 now, but we will be listing this property in about 2 weeks.

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y

    Haha, you're right Glenn Espinosa!

  • Karen MargraveBusiness Member
    Moderator
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    13y

    Jimmy Hong Where in Irvine? What did you pay for it? What is current value?

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y

    Hi Karen Margrave, I live in Irvine, this property is in Costa Mesa, Metro area near South Coast Mall. I paid $297k for it, current value I'm guessing is $400k, the comps say higher. I'm hoping to list it for $424k. But really, I can't figure it out because as you know, supply is so low in OC, I'm hoping to take advantage of that low inventory.

  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
    13y
    Originally posted by Jimmy Hong:
    Thanks Glenn Espinosa, we didn't have much choice regarding cabinets with the budget we had, but my wife did all the designing and she decided with lighter floors than darker. This condo is on first level and doesn't get too much natural light. She was aware of the lack of contrast but ultimately decided it wasn't too bad.

    Looks great! The only thing I was thinking was exactly what Glenn Espinosa said -- not enough contrast in the kitchen. Next time, a darker countertop would probably be enough to contrast the floors and cabinets.

    But, that's just being nitpicky...looks awesome!

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y

    Thanks J Scott, that means a lot. I'm a big follower of your work.

  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
    13y
    Originally posted by Jimmy Hong:
    Thanks J Scott, that means a lot. I'm a big follower of your work.

    Btw, love what you did with that fireplace...I'm going to steal that... :)

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y

    Its all yours... I'll let my wife know! Funny thing about that fireplace, its supposed to go higher to the ceiling but wasn't in our budget. My wife and our contractor had to get creative.

  • Henry R.Pro Member
    Rental Property Investor · Saratoga County, NY · Member since 2013 · 178 posts · 73 votes
    13y

    Hi Jimmy,

    That is a great job on your first flip. The place looks very nice.

    J Scott, I follow you too, listened to your podcast yesterday and signed up for your news letter. Great info! Glen as you know I follow you also.

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y

    Thank you Henry R.. Much appreciated.

  • Karen MargraveBusiness Member
    Moderator
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    13y

    Jimmy Hong Let me know if you need help trying to price it, and I can pull some comps off MLS (unless you're working with an agent, I don't want to step on anyones toes!)

    We lived in Irvine for a few years, now we're in Lake Forest. We've made offers in the past on houses in Costa Mesa, but, didn't get them. Most of the houses here fit more in with people buying to live in them. But... condos, etc. in the right areas look pretty good.

    Anyway great job on the remodel!

  • Flipper · Irvine, CA · Member since 2013 · 349 posts · 45 votes
    13y

    Thanks Karen Margrave, we have a pretty reliable agent that's been feeding me regular comps in the area. Its been all over the place from $380k to $499k. But you are right about the offers, we had to beat 6 other offers and we knew the only way we were gonna get this place was with a full cash offer, 14 day closing, and $12k above their asking price (they originally listed as $285k). But I did the numbers and still came out $217 per sq ft and I knew we can sell it close to $300 per sq ft.

    I've been really studying the podcasts, blogs, and books and I understand the advantages of leveraging, but I don't understand how anyone can purchase good deals in OC with financing. Am I missing something?

    Also Karen, how is your commercial building in downtown Fullerton going?

  • Karen MargraveBusiness Member
    Moderator
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    13y

    @Jimmy Hong, you're right in that with the high prices and tight margins it's very hard to use any financing. As for the commercial building we have a few doctors that have shown some interest. However; we are still working on finishing up plans to submit to City. We started marketing ahead of time, because with doctors sometimes they have specific needs due to specialized equipment, and if we know that when we are drawing plans, it's easier to do it and have it ready when we submit rather than coming back with changes.

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