Angela Sells DFW

Journey with me through my real estate, motherhood and Texas adventures

Archive for the category “flip house”

Flipping Grandview: Week ???

I seem to have lost track of what week it is… maybe it’s denial that we are more than 4 weeks past the initial goal that makes me want to bury my head in the sand?!? It’s actually week 12 and we have flooring! Hooray! Forward movement is progress and I am happy to have it!

The next hurdles are getting the granite & back splash in, refinishing the shower tile, getting appliances in & completing trim out work & the punch list so far. There is still some touch up painting to do as well.

They did get the exterior painted and the workshop painted red, too, since our last update.

We are over on holding costs putting us $5,000 behind on budget currently which we are adding to our other $1,500 of overage expenses. That has us $6,500 in the red on our budget. We will likely be over budget an additional $6,000 In holding costs & odds, ends that will need to be done. We aren’t going to turn the profit that we had hoped on this one and that’s why it’s important to flip multiple at a time! As always, we are learning great lessons on this one and will do the next one differently.  It is coming together though and looking good!

 

Flipping Grandview: Week 4 & 5

A new week, a new unexpected expense.  Upon further inspection, the water heater that we thought serviced the whole home did not.  The one that does is in need of repair.  Instead of waiting for it to flag on the future buyer’s inspection report, we will go ahead and replace it to ensure it’s up to code before construction is complete.  That will be an additional $1,000 bringing our unexpected total up to $1,500.

Our contractor did see some other unusual items and is going to get them repaired within the original bid which is great!  We are already over budget since we purchased all of the appliances, fixtures, lights, faucets, etc.  We know we will have some electrical work to do once the renovation is done as well so we are really trying to limit our costs.  The holding costs definitely add up quickly, too.  We are getting ready to make our first mortgage payment.

This week, we got the colors right and additional coats of paint on went on.  The progress is visible and that’s exciting.  The contractors believe they will be done around March 23 so our plan is to have the home on the market by the end of the month!

 

Flipping Grandview: Week 2

This week saw some big items being taken care of like a new HVAC system, drywall prepped and repaired for paint, completing some detailed demo to prepare for the new look!

Follow along as we flip Homes in the Dallas / Fort Worth area!

Flipping Grandview: Closing Time!

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Let’s switch gears a little bit here into our house flipping business.  There was so much excitement over the photos we posted on Facebook so I thought I would blog a little bit about each house as we move along!

We close on the Grandview house on February 9.  You can take a look at the original photos below.  We found some cool stuff that the seller had left behind which we promptly listed on eBay.  The boys thought it was a really cool adventure to rummage through the items left in the house and the barn.  Mason was most excited about finding a working Polaroid camera only to be very disappointed in the cost of film.  I welcomed him to my childhood dilemma and reminded him about his Christmas money.

Cash found some cool antlers, an antique chair & a really neat bird house that we’re going to hang in their tree house.

The house has 3 bedrooms, 2 bathrooms with just over 2,000 SF.  It’s located on 2.71 acres in Grandview, Texas which is a little further out than we’d like to be but we do love Grandview!  The house is really cool and will be a beautiful home for it’s next owners when we’re finished!

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Exterior of the house from the road.

 

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This is the workshop that the seller used for his wood working.  It will make a great hobby cave!

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This is a nice little shed that’s in great shape behind the house.  The seller has a loafing shed behind it which we’ll keep.  We anticipate the future buyers will either have horses or want horses so this will be a benefit for them!

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As you can see, there’s quite a bit of wood rot around the trim on the house so we’ll have some replacing to do when the new roof goes on!

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I love the beams in the living room and the rock fireplace!  I have big plans for this room!

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The carpet, originally a bright orange, looks to be original to the home.  This room will have a drastic change coming up soon!

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The kitchen will see a complete makeover and I’m excited for it!

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Although the counter tops match the appliances beautifully, they’ll both be heading to the dumpster.

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I love what this view is going to become! (That’s a charming wallpaper mural in the distance.)

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I love the character of the front windows of the house!  You just don’t see these often any more!

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We lovingly dubbed this bathroom the “SpongeBob” bathroom.  Although comical to the home buyer now, the work done in here was quite admirable in person.  The seller had a true talent for wood working. I almost felt bad removing it all.

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Here is one of the secondary bedrooms.

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I love this front porch!  The arches add so much charm!

 

Stay tuned for updates as we progress along!

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