My first flip! (with pictures)

[Eric P.]

Hey everyone, Brandon suggested I post a little about my first rehab that I just started working on. So here goes! Please comment with any design/rehab ideas or on the bolded questions in the picture captions below.

The house:

10 min from downtown Cleveland, near Lake Erie

2600 sq ft.

4 bed/2 bath, located on a street with 1 home rehabbed recently and another in progress, ~10 houses from train tracks (not loud)

Already has updated windows, vinyl siding, half of the driveway is new, boiler replaced 3 yrs ago, newer hot water tank, roof ~5 yrs old, has a few cool stained glass windows and cove ceilings on first floor, butler's pantry, all ceilings 9.5', 2 car garage with workshop, solid foundation, finished attic, close to the city and the neighborhood is quiet for being so close to the city.

The numbers:

Purchase price: $59,000

Budget for repairs: $45,000

Cushion: $7000 (~15%)

ARV (after closing costs) (from realtor): $130,000

ARV (before closing costs) (from bank): $165,000

Repairs include total rewire updating to code, 4 mini-split A/C units, drywall repair entire house, install 2nd garage door, gut and update kitchen/2x bath (ceramic tile floor/tub surround), new light fixtures (entire house), carpet allowance for entire house (just in case), refinish hardwoods 1st floor, install mini-sump in basement to divert water to drain, paint, knocking out a wall in the kitchen.

Before:

(8/1/13)

If I uploaded too many photos, let me know, I tried to capture all the things I knew would be updated.

Welcome!

Front porch pillars need base replaced:

Front door and hardware to be refinished with new storm door:

2 car garage, will add 2nd door, don't mind Pops mowing:

Kitchen a little small, will gut and update, add an island, note 2nd staircase on left that will be removed:

Rest of kitchen:

Butler's pantry:

Wallpaper everywhere! Bay windows on left is living room. Note cool little seating in dining room, will be refinished:

Another view of dining room showing Butler's pantry door. I could use some advice on what do with that little display area, I really have no idea on what to do with it yet!

"Parlor" area next to living room, I really like the stained glass windows in this room, any advice on how to make the fireplace usable for cheap? The depth in the fireplace is ~4" so there isn't much room.

Another stained glass window:

Showing the colors:

"Common area" on 2nd floor. The are 2 rooms to either side of this photo next to the bathroom

Yuck. Will be totally gutted and updated with ceramic floors and ceramic surround:

First room with bay windows:

2nd room with bay windows:

Other 2 rooms on 2nd floor look like this:

"Finished" attic, bathroom straight ahead one room to either side of bathroom:

Cool little turret area in one of the rooms on the 3rd floor:

Disconnected 3rd floor bathroom, will be gutted and updated with refinished clawfoot tub from 2nd floor and ceramic tile floor:

Other room on 3rd floor, will replace baseboard: