2nd flip - Northern Arizona Area

[Brian Larson]

So as you can see, I have not even sold my first flip yet but here we are working on #2. I have promised @Kyle Larson that we will not acquire another property until 1 sells AND this house is at least 60% done with the rehab.

Purchase Details:

• Distressed sale listed on MLS.
• Purchased for $115,000
• Using hard money lender. Paying a premium (15% with no origination but it was my offer so I could build trust with this lender). I also did the math on 10% @ 2pts vs 15% and if sold under 6 months it is better to pay the premium with no points. 
• Closed on 10/17

House Details:

• Built 1975, 2 bed/2 bath, 1850 sq ft house
• This is a dated but very large house. We will convert to 3/2
• Estimated Rehab is $30k
• Estimated ARV: $195k

Rehab Details:

• Rehab started on 10/20
• Compared to our other property this is much more thorough rehab :)
• Hired contractor to rearrange space, create 3rd bedroom, fix flow and update baths
• Removing old tile throughout (glad someone else is doing this, what a mess)
• Paint, flooring, new baths, light update of kitchen, etc
• 6 week timeline but there are some things lining up to maybe shrink this to 5!

I will update this post with picture shortly. I need to original, awful pics put up :)

Brian

[Brian Larson]

Ok, sorry on the delay. Here are the original photos of this place. Rehab is currently in progress but is mostly demo work at this point. I will get some updated photos from @Kyle Larson and post soon.

Some parts of the house are nice as there was a rehab in progress from who knows when. Lots of unfinished and untouched areas though.

Outside

Beetlejuice, Beetlejuice, Beetlejuice!

Kitchen is in decent shape

Funky Bath

Funky Fireplace

Rehab photos and update on schedule/timeline coming soon...