Flip #4 · Uncategorized

MY BIG ANNOUNCEMENT! Welcome to Flip #4!

I’ve been teasing you all with a big announcement, and for a little bit I thought I wasn’t going to get to announce it. It’s been such a headache, but FINALLY I’m able to let you all in on my big secret:

I PURCHASED FLIP #4!

[Imagine me saying that in my Jessie Spano caffeine pill addicted voice]

Wait, what? You’re confused right? I haven’t sold Flip #3 yet. This isn’t how I normally do things. And I told you I couldn’t buy another one because of my career change.

Well, the stars aligned on this one. I am fortunate to be a Realtor and stalk the MLS all day. I saw this one hit the market, saw it in person within hours of it being listed and bought it before the end of the day of it being listed!

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Every.Single.Thing. about this Flip is unlike all of my other flips.

Here’s what you need to know:

  • So how’d I buy it? My parents have gone in as silent partners. I’ve mentioned before, I got into this whole world of house flipping because I grew up with my parents flipping houses. They are at the point where they don’t have the desire to do the labor side of flipping, but they’re joining on the finance side as equal silent partners.
  • We have purchased this solely as an investment property. Unlike my other flips, I will NOT be living in this property. It will be my first true flip- as far as the narrow definition of house flipping goes.
  • I will be solely in charge of the design and managing all of the subs and projects on this house. Like I said, my parents are silent partners. I’ll be handling all of the design and remodel stuff.
  • It is the largest flip I {and my parents} have ever tackled. It’s just under 3,000 square feet, almost 1/2 acre, and 2 levels.
  • Since it’s a true investment property, we were able to get an in house loan rather than a mortgage. Of course, the downside to that, every day that we own it, we’re paying money to the bank. So our ultimate goal is to GET IN & GET OUT…..FAST!
  • We already know about two substantial projects that make me nervous: a large portion of the driveway must be busted up to address septic issues and we are required by the city to hook to city sewer. We will then have to repour part of the driveway. We’re also looking at replacing the HVAC system and a small portion of the roof. Those are all BIG ticket items which is why I hedged our bets and offered well under list price.
  • The property is located in the same city as Flip 1! It’s also about 45+ miles from our office and almost 60 from my current residence. So, I will be spending A LOT of time on the road in the coming month or so. Good thing it’s a tax deduction.

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There are a lot of features about the house that I love! It quite literally is lined with a white picket fence! The house sits on a large corner lot backed up to trees. It feels so secluded. Almost every square inch of the house will receive updating and TLC. There are numerous projects that have not been addressed over the years, so I’ll be coming and addressing those, designing a more contemporary interior, and creating updated and functional aspects of the home.

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In its current state, there is not much curb appeal. It looks so tired and worn on the outside. But I have grand plans to update and salvage the exterior while bringing a totally new feel and look to the home which I hope will appeal to buyers.

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The interior of the home needs A LOT of work. Like, a whole bunch of work. Most of the flooring has been removed and what is there is not salvageable. However, new subflooring has been laid throughout much of the 2nd level which saves us costs. They’ve also updated a couple light fixtures and fans; however, some of the newer ones won’t be salvaged in this flip. The living room is ENORMOUS…most definitely the biggest living room I’ve ever seen- and I thought Flip 2’s living room was big.

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You might not be able to tell, but that is the longest fireplace I’ve ever seen. It’s huge. And it’s insanely filthy. I’ll be updating it in some fashion. Some of my original ideas were nixed by the inspector, so I’m back to the drawing board on ways to update it. I can tell you my goal is to modernize it since the prime of natural rock is gone.

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There were parts of this house that just sold me immediately- those arched door ways and the windows! I’m obsessed with the windows. This is the other side of the living room, and I wasn’t lying when I said it’s insanely large.

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This area is my favorite part! It’s a little nook in the living room. Doesn’t it just scream perfect reading nook? And I appreciate that someone has added beautiful crown molding at some point.

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The formal dining room is right off the living room and the kitchen. It also has beautiful windows and tons of space. And a house of this size needs a space to have several people at the table. This room is large enough to fit a huge table with lots and lots of chairs for family at holidays.

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The dining room really doesn’t need a lot- paint, new fixture and floors. And because I can’t quit swooning- look at that huge diamond window! I’m in love.

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The only thing I wish I could change about the dining room is the width of the opening into the kitchen, but there really isn’t room. If we opened it much more, it would expose the fridge. So it’ll stay narrow, but at least it’s arched which I love!

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The kitchen has TONS of storage. I wish I could update the layout, but for this project, I’ll be giving the cabinets a face lift, new appliances, floors, fixtures, countertops, and sink to modernize it.

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All of the bedrooms are located on the top floor, as well as 2 of the bathrooms. There is a half bath downstairs.

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Both bathrooms are in desperate need of help. Quite a bit of effort and updating will go into both bathrooms. The sheetrock has to be repaired, new coutnertops, new fixtures, new floors, and new accents.

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In the hall bath, I’ll be salvaging the shower insert that is there already, as well as the vanity cabinet. Pretty much everything else will be ditched and replaced.

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The master bedroom is HUUUUGE! And salmon pink. I secretly like the color because it reminds me of Florida, but since we aren’t in Florida, it’ll be painted with a more neutral color. There is also a door which leads to the oversized screened-in porch, so the existing exterior door will be replaced with a glass panel exterior door to let in some light.

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New floors, new paint, and new fan and scraping popcorn ceilings [shoot me].

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Whew, the master bath. I get tired just thinking about it. It’s pretty darn close to a gut job. The counter vanity is excessively long, which is great and there’s a built-in laundry shoot in it [so cool!], but that’s really its only redeeming quality. The countertop will be removed, the built-in medicine cabinets will be ditched, the sheetrock patched and textured, new light fixture, new flooring, and painting the cabinet and adding new hardware.

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Unfortunately, the existing tub insert has a large hole in the base. So we will be gutting it and replacing it with a new tub and tile job.

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Each of the 2 spare bedrooms really doesn’t need a lot of work- except scraping popcorn ceilings. [Again, shoot me].

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One of the spare bedrooms is larger than Flip 3’s master bedroom. It’s HUGE for a master but especially for a spare bedroom. Again, more popcorn scraping.

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And let’s all take a minute to pray for me. The 1st floor/basement needs all the creative juices I can muster. The benefit is that it’s currently a blank slate, but it needs a lot of work. We’re looking at a partial rewire in the basement and garage. I do have a great vision for this space that will expand livable & entertaining space, but I will need all the mojo I can find to get it accomplished on a budget and on time.

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The basement is HUGE and there is so much potential. I’m going to try to warm it up and make it cozy and inviting.

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Another area that is going to need all the creativity I can muster is the laundry room. This room is also the 1/2 bathroom, although they removed the toilet and sink. The laundry shoot that was in the master bathroom comes out in the cabinets on the left which is obviously a convenient feature since the laundry isn’t on the same level as the bedrooms.

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Like I mentioned earlier, the exterior is tired. It needs freshening up which we’ll be doing.

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One of the spaces that has so much potential is the oversized screened porch. It’s currently dirty and tired, but I have plans to give it fresh life!

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Not only is Flip 4 the largest project I’ve ever tackled with countless projects but it’s also the shortest timeline I’ve ever attempted. I’ve always had my 2 year window, now I’m shooting for under 2 months. So life is about to get super, super insane and busy. All of my free time will be dedicated to Flip 4. Since the timeline is so small, I’ll be hiring out many projects that I would typically attempt myself. In this case, time is money and for each day that I’m delaying completion by doing it myself, I’m paying the bank.

As with all other Flips, I’ll be sharing the projects. If you aren’t already following me on Facebook & Instagram, be sure that you do! I’ll also be sharing Instastories on Instagram, so stay tuned for those!

I’ll be doing my first Facebook live next Wednesday, March 15 at 5pm (CST) to tour Flip 4 before we start the demo! I hope you’ll tune in & give me your thoughts and questions!

Goldiluxe

All photos was taken from public real estate MLS listing.

Ready or not, here we go…Flip 4!

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10 thoughts on “MY BIG ANNOUNCEMENT! Welcome to Flip #4!

  1. Wow. That is quite a
    Large house. But you can do it. I also see that you do t like popcorn ceilings. Well I saw an amazing video where this guy hooked up his wet dry vac. I forget the name of it. All garages have one. Anyhow he hooked it up somehow and as he scraped the ceilings all the popcorn sucked right down the line into the vaccuum. Soooo easy and clean. Amazing. I think I saved the video should you want to see it. Sounds weird I know but it works!

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