Candlewoods First Flip 56k NO GO ! *TONS* OF PICS - HomeModders.com

Konstruction · 08-10-2008, 11:35 PM

Well since owning my business, I am getting tired of customers all the time. Working and killing myself just to pay payroll. I got the idea from a good friend (Jimmy Benson @ Help-u-sell) to start flipping houses. He turned me on to this Beauty. Asking 70k locating in a 150k neighborhood. The house was royally trashed. Really small, and did I saw trashed. But it has so much potential. We started on this house 4 weeks ago. On to the pics.

Severe porch damage.

Walking through the front door into the living room.

Bedroom #1

Bathroom- the one and only

Bedroom#2

Dining room

Kitchen

Backdoor

Ok now that you have seen the Hell hole. Here is a list of things that we did.

Replaced all skeetrock in the house.
Rewired the whole house, added lines, lights, 200amp service upgrade.
All new plumbing.
All new trim.
New paint.
New cabinets,countertops, kitchen
enclosed back porch to utility room.
Tiled kitchen, bath, utility room.
central air
Refinished living room hardwood flooring
Installed carpet in 3rooms
Relocated hotwater heater
Framed and installed bifolding doors in closet.
All new shelving in closet.
All new fixtures
Painted exterior house
Replaced broken asbestos siding
Replaced roof, 2x12 pitch rubber membrane.
Put the lipstick on the pig.

We did some other things but its alot to list.

So here are some other pics.

The beauty

Walking through the front door

This is what I have so far. I am still waiting on the carpet to be installed, HVAC still needs to be installed. Other than that I am done and we are going to list it for 150k FIRM.

We bought the house for 70k.
I estimated spending 24,481.11 and we spent $22,000. So I came out in budgeting.
[IMG]file:///C:/DOCUME%7E1/HP_Owner/LOCALS%7E1/Temp/moz-screenshot.jpg[/IMG]
Contract Amount = $24,481.11
Labor Paid = $10,085.88
Materials = $8,689.74
Gas = $753.05
Sub Contractors = $1,250.00
Dump Fee = $1,500.00
Total Spent = $22,278.67
Listing Price = $150,000
Estimated Profit = $57,722

In one months time I am in and out. I still have a few more contracts to finish out with customers. After those I am going to keep flipping houses. I have enough work to get me to Jan of 09, that will give me time to get a house lined up to sell in the spring, or maybe 2.

Opinions good or bad accepted.

I will more pics after the carpet is installed.

briansol · 08-11-2008, 12:49 AM

it's amazing how some people live. what a shit hole.

Very nice turn around. I'm sure the neighbors are happy.

I would list for 162,900 if you want 150. There's really no such thing as 'firm' in realestate.

Flipping is great money, as long as you can sell it. If you get stuck owning it for 5 months, having to pay the 1k a month mortgage + taxes/etc it significantly cuts into your profit.

Bob Vila · 08-11-2008, 10:03 AM

you need to hire another tiler.

looks good otherwise.

briansol · 08-11-2008, 12:21 PM

what's wrong with the tile? the caulk/grout is a little messy, but that will probably clean up easy

Konstruction · 08-11-2008, 12:46 PM

Quote:

Originally Posted by briansol

it's amazing how some people live. what a shit hole.

Very nice turn around. I'm sure the neighbors are happy.

I would list for 162,900 if you want 150. There's really no such thing as 'firm' in realestate.

Flipping is great money, as long as you can sell it. If you get stuck owning it for 5 months, having to pay the 1k a month mortgage + taxes/etc it significantly cuts into your profit.

Thanks, I talked to the real estate agent this morning. He loves the place and feels confident that we will get the full 150k. This will be the last flip of the year until next spring. The market is shit right now, unless you get the houses at a steal, like this one.

If it is not sold in 3 months, we plan on renting it out for 6 months until the market gets better. *Security*

Quote:

Originally Posted by Bob Vila

you need to hire another tiler.

looks good otherwise.

Well I did the tile work, and done a ton of it. Please tell me what you see that is off.

I didnt do the grout. A labor did. One thing he forgot to do, clean the grout joints better before they dry. All that looks better now since the cleaners did their sweep through.

I have some gorgeous tile jobs that were finished up eariler in the year if you want to see some craftsmen ship.

A job with an extremely low budget, we got everything at wholesale. The tile, 49cents sqft.
Carpet 59cents sqft
Countertops were 200 bux.
Cabinets were 700 bux
Even the 65 pc sheetrock was wholesale.

So on and so forth.

Bob Vila · 08-11-2008, 01:58 PM

You have two cut tiles on the plumbing wall, one being roughly 5-7" and the other being less than 1" on the sides of the wall. You should have added the small cuts to the larger corner piece. It looks very off in the pictures. Too many grout lines, etc. But I guess when its on a budget you get budget work too.

Konstruction · 08-11-2008, 03:04 PM

I said the same thing.

If you look at the other 2 walls, they are even on each end. Once again being on a budget I had very cheap labor on the job. I needed to get more materials and left the last wall, a drill bit, and one guy to finish it. He said he started it by centering the faucet on the first piece of tile. Obviously thats not the correct way to start off. I tried to get casing to take up the gap. But to be honest, just forgot about it under the stress of 20 things going at once.

sufikation · 08-12-2008, 12:52 PM

hey it looks awesome, great remodel. i would love to be able to flip houses...our income just isnt enough right now to be able to do it. after i get my associates and the 1st house is paid off maybe we will be able...but anyways, im impressed. }=)

Konstruction · 08-12-2008, 01:03 PM

thanks, if it wasnt for my investors, I wouldnt be doing this.

Just got a call, pipe under the utility room is leaking. LOL ... God damn cheap labor.

Konstruction · 08-27-2008, 11:15 AM

So the pipe was leaking from the Hvac guys tearing stuff up when doing the final install. BACKCHARGE!

We had an open house this past Sunday. 4 people. Main problem with the open house, was it was between 1 and 3. To many peoplem still in church. Having another on Sat, this weekend.

No offers yet.

08-11-2008, 10:03 AM	#3
Bob Vila Senior Member Join Date: Aug 2007 Location: In a house Posts: 107 Rep Power: 3	you need to hire another tiler. looks good otherwise. __________________ Bow to my presence...

08-11-2008, 12:21 PM	#4
briansol Administrator Join Date: Aug 2007 Location: Central CT Age: 29 Posts: 468 Rep Power: 10	what's wrong with the tile? the caulk/grout is a little messy, but that will probably clean up easy __________________ 1997 2050sqft Split Level

08-11-2008, 01:58 PM	#6
Bob Vila Senior Member Join Date: Aug 2007 Location: In a house Posts: 107 Rep Power: 3	You have two cut tiles on the plumbing wall, one being roughly 5-7" and the other being less than 1" on the sides of the wall. You should have added the small cuts to the larger corner piece. It looks very off in the pictures. Too many grout lines, etc. But I guess when its on a budget you get budget work too. __________________ Bow to my presence...

08-11-2008, 03:04 PM	#7
Konstruction General Contractor Join Date: Aug 2007 Location: Richmond, VA Age: 26 Posts: 249 Rep Power: 3	I said the same thing. If you look at the other 2 walls, they are even on each end. Once again being on a budget I had very cheap labor on the job. I needed to get more materials and left the last wall, a drill bit, and one guy to finish it. He said he started it by centering the faucet on the first piece of tile. Obviously thats not the correct way to start off. I tried to get casing to take up the gap. But to be honest, just forgot about it under the stress of 20 things going at once. __________________ Check out my website. www.AllenCreations.net Affordable Creations Construction 2002 Condrey Ridge Dr Richmond, Va 23236 Johnathon Allen 804-980-6310

08-12-2008, 12:52 PM	#8
sufikation Member Join Date: Jul 2008 Location: fruitland, id Age: 26 Posts: 36 Rep Power: 0	hey it looks awesome, great remodel. i would love to be able to flip houses...our income just isnt enough right now to be able to do it. after i get my associates and the 1st house is paid off maybe we will be able...but anyways, im impressed. }=) __________________ i seek knowledge, i share information.

08-10-2008, 11:35 PM	#1
Konstruction General Contractor Join Date: Aug 2007 Location: Richmond, VA Age: 26 Posts: 249 Rep Power: 3	*Candlewoods First Flip 56k NO GO ! TONS* OF PICS Well since owning my business, I am getting tired of customers all the time. Working and killing myself just to pay payroll. I got the idea from a good friend (Jimmy Benson @ Help-u-sell) to start flipping houses. He turned me on to this Beauty. Asking 70k locating in a 150k neighborhood. The house was royally trashed. Really small, and did I saw trashed. But it has so much potential. We started on this house 4 weeks ago. On to the pics. Severe porch damage. Walking through the front door into the living room. Bedroom #1 Bathroom- the one and only Bedroom#2 Dining room Kitchen Backdoor Ok now that you have seen the Hell hole. Here is a list of things that we did. Replaced all skeetrock in the house. Rewired the whole house, added lines, lights, 200amp service upgrade. All new plumbing. All new trim. New paint. New cabinets,countertops, kitchen enclosed back porch to utility room. Tiled kitchen, bath, utility room. central air Refinished living room hardwood flooring Installed carpet in 3rooms Relocated hotwater heater Framed and installed bifolding doors in closet. All new shelving in closet. All new fixtures Painted exterior house Replaced broken asbestos siding Replaced roof, 2x12 pitch rubber membrane. Put the lipstick on the pig. We did some other things but its alot to list. So here are some other pics. The beauty Walking through the front door This is what I have so far. I am still waiting on the carpet to be installed, HVAC still needs to be installed. Other than that I am done and we are going to list it for 150k FIRM. We bought the house for 70k. I estimated spending 24,481.11 and we spent $22,000. So I came out in budgeting. [IMG]file:///C:/DOCUME%7E1/HP_Owner/LOCALS%7E1/Temp/moz-screenshot.jpg[/IMG] Contract Amount = $24,481.11 Labor Paid = $10,085.88 Materials = $8,689.74 Gas = $753.05 Sub Contractors = $1,250.00 Dump Fee = $1,500.00 Total Spent = $22,278.67 Listing Price = $150,000 Estimated Profit = $57,722 In one months time I am in and out. I still have a few more contracts to finish out with customers. After those I am going to keep flipping houses. I have enough work to get me to Jan of 09, that will give me time to get a house lined up to sell in the spring, or maybe 2. Opinions good or bad accepted. I will more pics after the carpet is installed. __________________ Check out my website. www.AllenCreations.net** Affordable Creations Construction 2002 Condrey Ridge Dr Richmond, Va 23236 Johnathon Allen 804-980-6310

08-11-2008, 12:49 AM	#2
briansol Administrator Join Date: Aug 2007 Location: Central CT Age: 29 Posts: 468 Rep Power: 10	it's amazing how some people live. what a shit hole. Very nice turn around. I'm sure the neighbors are happy. I would list for 162,900 if you want 150. There's really no such thing as 'firm' in realestate. Flipping is great money, as long as you can sell it. If you get stuck owning it for 5 months, having to pay the 1k a month mortgage + taxes/etc it significantly cuts into your profit. __________________ 1997 2050sqft Split Level

08-12-2008, 01:03 PM	#9
Konstruction General Contractor Join Date: Aug 2007 Location: Richmond, VA Age: 26 Posts: 249 Rep Power: 3	thanks, if it wasnt for my investors, I wouldnt be doing this. Just got a call, pipe under the utility room is leaking. LOL ... God damn cheap labor. __________________ Check out my website. www.AllenCreations.net Affordable Creations Construction 2002 Condrey Ridge Dr Richmond, Va 23236 Johnathon Allen 804-980-6310

08-27-2008, 11:15 AM	#10
Konstruction General Contractor Join Date: Aug 2007 Location: Richmond, VA Age: 26 Posts: 249 Rep Power: 3	So the pipe was leaking from the Hvac guys tearing stuff up when doing the final install. BACKCHARGE! We had an open house this past Sunday. 4 people. Main problem with the open house, was it was between 1 and 3. To many peoplem still in church. Having another on Sat, this weekend. No offers yet. __________________ Check out my website. www.AllenCreations.net Affordable Creations Construction 2002 Condrey Ridge Dr Richmond, Va 23236 Johnathon Allen 804-980-6310