May I share what I've been up to? (Pic heavy) More added pg3
Sept 17, 2016 4:44:59 GMT
peajays, lizbc, and 72 more like this
Post by Deleted on Sept 17, 2016 4:44:59 GMT
Back in March I found myself unexpectedly dropped into the middle of a house-flipping deal with my Father in Law. I bailed him out on a project and helped him finish it. It went surprisingly well (the surprising part is he and I have always had a strained relationship). He decided to hire me as his manager for his flipping endeavors, and we're now on our 11th house together. We've sold 4, are in escrow on 3 more, have 1 on the market, 2 in rehab, and one we just acquired this week and haven't even been inside yet.
He buys them at auction. He chooses which houses to bid on. He gets input from me and the realtor but he is the financial brain behind the operation and has a good sense of risk versus reward. I tell him what they need. I design the upgrades and hire all the contractors and then stage the house for the market. It's working well, it's made money for both he and I, and most importantly, it's built a relationship between us that we had been unable to do for the previous 15 years. We actually work really, really well together, which has shocked all of us.
All of the houses are in small, usually struggling towns. We buy them at auction, knowing very little about them and sometimes without being able to see the inside first, and with less than 24 hours to decide if we want them. Their final sale price is low, and my budget for each home is limited and I'm usually stuck with the "bones" of the house like the tile, cabinetry, and bathrooms. But we've been successful. Every home I've completed has been in escrow within 30 days of being on the market except for one, and it just went into escrow today, its 40th day on the market. I have two that hit the market last night, and one of those two is already in escrow!
It's been nice to find something to distract myself with, to bring some more money into our family with, and to do with our family. My DH, DS, and I all work on the homes together. My brother is a landscaper/handyman so he works with me a lot. My DH's sister comes with me when I stage. And of course my FIL is involved. So it involves most of both my family and DH's family, which is cool.
Thanks for letting me share!
This one is in a wealthy retirement/snowbird community. It's the only higher price point home I've done. It was left in relatively good condition. I added granite, Italian tile backsplash, a new sink and faucet, new appliances, new light fixtures throughout, carpet, and paint. I was stuck with the hideous tile and the cabinet color.
This one was very odd. They left it cleaned, and mostly empty, but with valuable belongings left behind. I didn't have to do much here except empty it, fix and fill the pool, add new carpet and paint, and I added a backsplash.
The owner of this one died and her family hired an estate sale company and left behind everything that didn't sell. The house wreaked of smoke. The pool out back was a cesspool and there was no landscaping. We cleaned it out, added landscaping, fixed the pool, changed all the carpet, paint, and light fixtures, added new laminate kitchen counters, extended the island to have a small breakfast bar on it, added a new faucet and sink, and reconfigured the lights in the kitchen.
This one was my baby. I put my blood, sweat, and tears into this one. It was a 40 year old home. It had to have completely new flooring inside. Needed a lot of drywall work too. I took down the bars in the porch windows. I swapped out all the light fixtures. New paint and carpet. Added a backsplash. Fireplace facelift. Landscaping out front, which my brother and I designed together. Through the door in the kitchen they'd enclosed the porch to be an indoor dog house. It had no windows or exits or floor. It was just a patio with walls. We demoed the walls to make it a patio again and let light back into the house. I adore this house.
This is my house that went in escrow today after going on the market last night. It too was owned by people who died and whose kids just abandoned the house. It stunk so badly in this house. New floors throughout. Demoed the upper cabinets in the kitchen island and replaced with pendant lights. Removed popcorn ceilings. Demoed double-decker "bar" and made into large island. New laminate. New sink and faucet. New paint and light fixtures. It too had a swamp pool out back, which we cleaned.
Thanks for letting me share!
Is there a code I can use here on the board that will display the pics smaller? I'm having trouble with photobucket. Also, I know that the photographer our realtor uses does high post processing on his pics. His are the "after" photos you see. So I know that adds a little something extra to the finished presentation online.
He buys them at auction. He chooses which houses to bid on. He gets input from me and the realtor but he is the financial brain behind the operation and has a good sense of risk versus reward. I tell him what they need. I design the upgrades and hire all the contractors and then stage the house for the market. It's working well, it's made money for both he and I, and most importantly, it's built a relationship between us that we had been unable to do for the previous 15 years. We actually work really, really well together, which has shocked all of us.
All of the houses are in small, usually struggling towns. We buy them at auction, knowing very little about them and sometimes without being able to see the inside first, and with less than 24 hours to decide if we want them. Their final sale price is low, and my budget for each home is limited and I'm usually stuck with the "bones" of the house like the tile, cabinetry, and bathrooms. But we've been successful. Every home I've completed has been in escrow within 30 days of being on the market except for one, and it just went into escrow today, its 40th day on the market. I have two that hit the market last night, and one of those two is already in escrow!
It's been nice to find something to distract myself with, to bring some more money into our family with, and to do with our family. My DH, DS, and I all work on the homes together. My brother is a landscaper/handyman so he works with me a lot. My DH's sister comes with me when I stage. And of course my FIL is involved. So it involves most of both my family and DH's family, which is cool.
Thanks for letting me share!
This one is in a wealthy retirement/snowbird community. It's the only higher price point home I've done. It was left in relatively good condition. I added granite, Italian tile backsplash, a new sink and faucet, new appliances, new light fixtures throughout, carpet, and paint. I was stuck with the hideous tile and the cabinet color.
This one was very odd. They left it cleaned, and mostly empty, but with valuable belongings left behind. I didn't have to do much here except empty it, fix and fill the pool, add new carpet and paint, and I added a backsplash.
The owner of this one died and her family hired an estate sale company and left behind everything that didn't sell. The house wreaked of smoke. The pool out back was a cesspool and there was no landscaping. We cleaned it out, added landscaping, fixed the pool, changed all the carpet, paint, and light fixtures, added new laminate kitchen counters, extended the island to have a small breakfast bar on it, added a new faucet and sink, and reconfigured the lights in the kitchen.
This one was my baby. I put my blood, sweat, and tears into this one. It was a 40 year old home. It had to have completely new flooring inside. Needed a lot of drywall work too. I took down the bars in the porch windows. I swapped out all the light fixtures. New paint and carpet. Added a backsplash. Fireplace facelift. Landscaping out front, which my brother and I designed together. Through the door in the kitchen they'd enclosed the porch to be an indoor dog house. It had no windows or exits or floor. It was just a patio with walls. We demoed the walls to make it a patio again and let light back into the house. I adore this house.
This is my house that went in escrow today after going on the market last night. It too was owned by people who died and whose kids just abandoned the house. It stunk so badly in this house. New floors throughout. Demoed the upper cabinets in the kitchen island and replaced with pendant lights. Removed popcorn ceilings. Demoed double-decker "bar" and made into large island. New laminate. New sink and faucet. New paint and light fixtures. It too had a swamp pool out back, which we cleaned.
Thanks for letting me share!
Is there a code I can use here on the board that will display the pics smaller? I'm having trouble with photobucket. Also, I know that the photographer our realtor uses does high post processing on his pics. His are the "after" photos you see. So I know that adds a little something extra to the finished presentation online.
) can do to improve the street appeal of a house. Those last 2 houses looked so run down from the outside but they look fabulous now. I think my favorite room is the kitchen of the first house and the kitchen with the island bench in place of the double decker bar in the third house. 
