Angela Sells DFW

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

Archive for the category “houses”

4 Tips for Buying a Vacation Home

 

Tip #1: Make sure it’s in your budget. Many people buy a vacation home with the intentions of renting it out to cover the costs. Before buying a home with this intent, be sure to check the market and be sure that you can rent your home enough to cover the costs that you will need to have covered. Remember that real estate is not a liquid investment and when the market changes you could be at risk of having to sell your home for a much, much lower price than you paid for it.

Tip #2: Know the Rules before you buy the property. Sometimes HOAs, cities and other institutions will put requirements on which homes can be used as a rental property and may have certain standards in order to do so. Sometimes hotels and resorts can require you to operate your rental through them. It is important that you look into any rental restrictions before you purchase your home.

Tip #3: Be realistic with the amount that you expect to make from renting your property. Remember to be realistic about what costs are going to be required to maintain your property, such as cleaning between guests, HOA fees, and utilities. Also consider how much it is going to cost in order to completely furnish your home. With all these costs, it is important to be realistic about the amount that you expect to make in profit from your rental.

Tip #4: Pick a vacation spot that you can go to regularly. Damages can cost a lot more when they are left unattended. It is important to pick a vacation spot that you intend to and can realistically visit often in order to be able to check on your vacation property and ensure that any needed repairs are done in a timely matter to keep costs down, especially if you do not intend to rent your vacation property.

For all of your real estate needs, please contact the Hornburg Real Estate Group at Keller Williams Realty at DallasFtWorthHomeSearch.net or (817) 264-7087.

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!

Burleson Home for Sale

3701 Trails End Burleson, Texas 76028

Looking for a home for sale on land in Burleson, Texas?  Look no more! This unique home has a 4-stall horse barn, loafing shed, pond, cross fencing, outdoor kitchen & living area with hot tub on over 8 acres!  The possibilities are endless.  Oh, and did I mention that the property could be an income producing property?  It has a full kennel facility on it that was generating $300,000 annually when it was operating!  Give us a call, email or text to take a look at this rare property!  817-771-0998 or AngelaSellsDFW@gmail.com.

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