Well, it’s finally done, and here it is. I know I say this about all my deals, but Hamilton Ave is truly my greatest rehab yet. Some lucky homeowner is going to get a great home when they buy this Craig-Fuhr-rehab (I promise, that’s the last time I’ll ever write in 3rd person). The place is spacious, and luxurious. Its quaint and opulent all at the same time. The home has it all. Lots of space, super open and airy layout, high-end finish, tons of storage, a kid’s dream for a back yard, -- and it absolutely perfect for entertaining.
This house, more than any I have ever done, presented so many challenges in terms of its original layout. As we know, challenges are simply opportunities in hiding.
I think we did a pretty good job uncovering the opportunities. Check out the before and after video of this great rehab. I’d be happy to hear your comments.
How about a whole crap-pile of pictures for ya?
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Here it is. The beast, the nemesis, the magic mansion that will soon turn into dollars falling from the sky -- God willing. This, my investing pals & pallettes, is Diller, and like the comedian of the same name -- in its heart, Diller thinks she’s beautiful, but she needs some serious cosmetic surgery to bring her back to life.
Even though its been vacant for some time, the house is in remarkable good shape. The problem is, she was broken into a few apartments, and the layout is beyond horrible. We won’t have to do a full gut, but because of the house’s sheer size, the rehab budget for this one is $70,000.00.
We’ll bust it up and make a gorgeous modern layout, add 3 full baths, and 2 1/2 baths. We’ll gut the kitchen, transform the attic into an fabulous owner’s suite, make the front porch into a all-season oasis, add some stone to the facade, replace all the windows…. You, know, we’ll do what we do!!!
Here’s the kinda lame before video. Stay tuned for more.
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Damn -- ugh! Its every year at about this time that I quite simply shut down. I get the winter blues. Like a delicate flower, I need sun, sand, water and a little fertilization (in the form of alcohol). I need a vacation. So when you watch this video, just know that I wished I was somewhere else while I was shooting it.
Anywho, we’ve made some serious progress on this place in just a few short weeks. We’re essentially ready for sheetrock. Check it out now, ’cause the next time you’ll see it, it will be a whole different place.
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There’s something about Mary…Avenue. We’ve been working on this monstrosity for about two weeks. Once complete, this will be my second greatest “real estate” accomplishment -- that is because I’m about to get started on what will be my greatest. Stand by for that update.
Anyway, we picked up El-Crappo from a bank, of course. The original buyer flaked (he did not close) after he bid $10,000 over asking price. What an ass-hat! I wound up getting the house for $7,000.00 UNDER asking price. Hey, Ass-Hat -- I win. You lose. Game over!
Oh, did I mention the 15″ of water in the basement we found 1 day before settlement? Another great day!
Set up as multi-unit with a horrible layout, we will transform Mary from a 3/1 to a 4/2 with a killer modern, opulent and exquisite layout. Wait until you see the master-suite. It’s a room that just keeps giving. Long and short….my wife is pissed that I keep making houses nicer than the one we live in.
Check the video of all the before shots. Update 2 is already in the can, and will be coming soon.
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This is my little giant. Such a small looking house from the outside, but on the inside it just keeps giving. Kipling has been an enjoyable little retail flip that has really kept me up at night. The layout of this house was nothing short of disastrous, so when I got in there to do my thing -- it really took a great deal of planning to bring the layout up to the 21st century.
I talked about this in previous posts -- when you walk in a house before and just after demo, you need to stop and ask yourself, “Does it work? Does it give the buyer what buyers want in today’s market?” If it doesn’t, take the time to make sure it does. Do not just trudge on with ordinary. Really pause to think of how you can make the house work better. That’s our job, right?
This house had a smallish kitchen that was completely separated from the rest of the house. It had no flow, no open-airy feeling. The sun room was anything but sunny, the basement was cold and dank, and the upstairs dormer bedrooms were, well, they were dormer bedrooms.
We made the sunroom area the kitchen, the kitchen a bedroom, and one of the dormers became the master. The basement is finished, and the place has a whole new feel. It been transformed from a 3 br / 1.5 ba sleeper to a 4 br / 3 full bath modern marvel
We’re almost done, but check out the progress video below:
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This update has been a long time coming. As I was walking through the house this morning, on what should be the final week of this rehab project, I was reminded that I haven’t really done an update lately on my little red-headed stepchild. So here it is, our retail house flip in District Heights.
We got a little off track with this rehab project. I learned that I will NEVER do a flip again without pulling permits, and that I will always use trusted sub-contractors, especially when using a new general contractor. My contractor for this job has dealt with some pretty heavy setbacks, in terms of, horrible subs, very angry inspectors (who actually shut us down), and a steep learning curve for pulling building permits. Heck -- even God took it out on the poor guy, with two massive blizzards!
Through thick and even more thick, my guy has hung in there and he’s bringing this job home. Check it out our progress video below:
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This update has been a long time coming, huh? The video gives a pretty good glimpse (even with the clutter) of how sweet this rehab will look when its complete. Can’t say I’m too excited about how long its taken us to complete this house. If I had to guess I’d say we’ve been rehabbing this one for about eight weeks -- and but for some exterior work, and some very minor interior details, Alvarado is pretty much complete.
The snow is really killed our progress on this one. We were all set to complete the exterior work, then KA-BOOM; 30 inches. One week later, KA-BLOOEEE; how about another 20 inches? That second storm was just a bit too much for several of the trees. We lost 3 along the driveway which will require a dumpster for removal.
We’re not quite done yet but we should be wrapping up this week. Stay tuned for all the pretty before & after pictures and video.
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Here it is! The big reveal. Its the fabulous before & after video of my rehab at Cayer Drive. And unlike American Idol where they stretch what could be a 20 minute show into two friggin’ hours, I’m just gonna hit you with it. Like every house I do, I truly think this house is as good as it can be.
A few years ago my, now friend; Fred Lewis of The Dominion Group took me out for a ride to see several of his rehab properties; this after looking at a house I had completed just around the corner from one of his deals. I was damn proud of my rehab and thought that Fred would fawn all over it when he saw it. He took a look, and in his normal understated sort of way proclaimed, “Yeah… its a real nice patch and paint.”
My $42,000 rehab was a nice “patch and paint!” My proud puffy chest was instantly deflated. But as I walked with Fred though house-after-house that he was rehabbing, I soon realized just how precisely right and astute he was. In a word, Fred was taking his rehabs to a whole ‘nother level. And at that moment, I decided to do the same.
As an aside, I sold my deal without ever putting it on the market -- and for full price. But what I learned that day from Fred stayed with me. He taught me to never leave the potential buyer wanting more. The last thing you want a buyer to think or say regarding your rehab is, “If they only would have….,” or “I wish this house had…”
Ever since that one very important meeting with Fred, ALL my rehabs now look like I’ve gone too far. I’m constantly accused of going overboard with my rehabs. But guess what? My stuff sells, Babies.
As testament to my philosophy -- this house at Cayer went under contract in NINE DAYS! 9-Days, people!!!
Enjoy all the before and after photos!
The Final Pictures:
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Mmmmm Mmmm Good. That’s what Hamilton Ave is…Mmmmmm Mmmm Good. We’re coming to the final stages on this old beast and this house flip in Baltimore City is starting to look like a beautiful swan. One wonders (<-- love the way that sounds) what this house must have looked like the day its proud new owners stepped into it when it was first built many many years ago. I have to believe the house of today is FAR, FAR grander than that of yesterday.
This place is friggin’ magnificent in every way. 4 Beds / 3 Full Baths of huge city living. Big rooms, modern layout, high ceilings, dripping with molding, big back yard…this rehab at Hamilton Ave truly has it all. Put this house in Canton, MD -- wait, it’s way too big to fit in crappy and cramped Canton. Put it in Howard County, MD and it would cost $800,000 easy.
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Happy New Year to all my Real Estate Investing pals and palettes! I hope 2010 turns out to be your best year for investing in real estate. My head hurts from last nights fun & frivolity, so I’m gonna make this one short. I was out yesterday checking on the progress of my flips in Baltimore and I just had to take a super-quick video of the amazing new front porch railings we just installed at Hamilton Ave. Could they have been a bit more ornate? Yeah. But they are pretty sweet and 100% custom for only $500.00.
This flip is coming along really well. By the end of the coming week we’ll have the place totally painted and ready for all the yummy trimmings! Stay tuned, this is where it gets really fun!
Check out the video:
The progress pics are here:
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