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:
Popularity: 4% [?]
Eight years of real estate investing in Maryland and this is my first foray into flipping houses in PG County. The smell of a payday drew me all the way to lovely, scenic District Heights. This is actually a very nice neighborhood in a solid homeowner area. Yeah, sure there are crappy houses and foreclosures all around, but that’s where we make money right?
So here’s the scoop on this sleepy little bungalow. We bought it from a bank -- well actually from a wholesaler who got it from the bank. BTW -- the wholesaler on this deal made an easy, fast $6000.00 for calling me first. How could an easy $6000.00 change your month? Lesson: CALL CRAIG FIRST with your wholesale leads!
But I digress…The house is currently set up as a 4/2 with a horribly finished basement. The kitchens and baths have never been updated and the hideous paint colors throughout look like someone puked Sherwinn-Williams all over the walls. I swear, I’ll never get over the horrible taste that some people possess.
We’re gonna turn this one out by making it more open and more modern. I wish I could say that my strategy and game plan changes with each house, but I stick with what works. What works for me is modern open houses that have new kitchens and baths. So that’s what we’ll be giving this one.
The biggest change with this puppy is we’ll be transforming the upstairs which boasts a horribly laid out 2 beds and a really bad bath. I’m gonna do something I rarely do and make this 4BR a 3BR with the entire upstairs as an oasis for the homeowner. It will be one huge master bedroom, two nice reach in closets, and a killer master bath. I’m certain this bold switch will actually be the major selling point of this house.
Check the video of what the place looks like now.
Here are all the before pics:
Popularity: 5% [?]
