Investor · Fort Myers, FL · Member since 2012 · 462 posts · 200 votes
10y
Some information about this particular flip.
I purchase for $65,000. Spent roughly $35,000 in rehab. I currently have listed for $169,000.
Some of the repairs included-
Connect to city water and sewer. Repipe the house. New vinyl siding. New flooring throughout. Gut and replace kitchen. Gut and replace both bathrooms. New fixtures throughout interior and exterior. Landscaping. Massive tree removal. Sod front yard where city connects were made. Paint driveway and garage. New HVAC.
All in all this flip took about 3 months. It should have taken two, but we had major delays with the city and inspections.
Please feel free to ask any questions and I will work to upload some more photos in the future.
The one exterior photo looks like stucco finish. Is there siding on the sides/rear? Also wondering about the flooring...looks like you did an engineered wood or laminate throughout. I love the floors, but the SWFL norm seems to be tile...think that will cause any issues
Good looking numbers on this...I'd love to walk through the property or do a drive-by. PM me if you're free at all to walk through or shoot me the address if you don't mind me driving by.
So originally the home was wood siding. We moved all of it, put a vapor barrier down and vinyled the whole house. This turned out to be by far the biggest expense but there was really no way to get around it because of how damaged the exterior was.
You are correct. Tile is definitely the "Standard". We used a laminate wood floor. I have found that people are generally misinformed about the functionality of laminate and when they see it and understand it's durability and how to care for it, they are very open to it. You certainly eliminate some investor/buyers by not using tile.
Are you in the area ? I can definitely meet up with you and show you the property. You're more than welcome to drive by as well.
Rental Property Investor · Chicago, IL · Member since 2015 · 31 posts · 10 votes
10y
Great project Brit. Beautiful house. Just wondering - out of the $35k, how much did it cost to replace the entire piping? And secondly, how much to reno each bathroom? Looks amazing
Investor · Fort Myers, FL · Member since 2012 · 462 posts · 200 votes
10y
Edwin Gachinga
There were two plumbing costs- one to repipe the entire house (included new hot water heater and all new fixtures). That was $3300.
The second was the connect to the city water and sewer. That was $1950.
For the bathrooms we literally took everything out including the toilet. It's silly to gut a bathroom and not spend $100 for a new toilet.
Hope that answers your questions.
Investor · Edwardsville, IL · Member since 2015 · 432 posts · 481 votes
10y
Nice job Britt! I've redone a few in Cape Coral ( I hold) but not quite that bad. I think you are right on the money with the snowbirds starting to head South. Good luck!
Military Aviator · San Diego, CA · Member since 2015 · 4 posts · 2 votes
10y
Brit, the final product looks great. How did you initially find this property? I am trying my hand at some new marketing techniques and I would love to see how you are finding a place like this. Thanks.
Investor · Reseda, CA · Member since 2015 · 66 posts · 68 votes
10y
That looks awesome, Brit!
I currently just buy to rent. I've been seeing some attractive returns on flipping and would like to try it.
What would you recommend to someone that wants to start flipping?
Was it all your creative input that was applied into taking the house from the old to the new or did you get some help in figuring out what would go into the new place?
Brooksville, FL · Member since 2012 · 429 posts · 220 votes
10y
Nice Job...i'd be a little nervous about it selling closer to the 130k mark though. I'm not really active in the cape coral area so my figures could be off. House would appear to lack the sqft it needs to get into the 150k+ bracket.
Investor · Fort Myers, FL · Member since 2012 · 462 posts · 200 votes
10y
Chris Schwamberger
This particular project came from networking.
A real estate agent called me and asked me if I would be interested before it hit the market.
The important thing is following through with what you say you're going to do.
If I say I'm going to buy a house...I buy it. So people will bring me homes because they know I'll follow through.