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Updated over 8 years ago, 07/06/2016
Latest Project Photos - BP Partnership
I don't post a lot of Before & Afters here (I know people get bored of them), but this one is so nice that I wanted to give some credit where it's due...
This was a three-way BiggerPockets partnership between @Todd Whiddon, myself and another BP member who would prefer to remain nameless (he shuns the celebrity lifestyle ;-). We originally were planning on a very large renovation, but after digging in and starting work, we realized that tearing it down was probably the better decision -- so we went back to square one and did things right. Good lesson that trying to save money by doing less can ultimately cost you money if you're not smart about it.
Todd did pretty much all the work, so he gets full credit...
Here is a Before pic:
Here are some During pics:
And here's the final product, getting listed today:
Incredible renovation!!! Such a large project to take on, but it turned out amazing. One lucky buyer will love it.
Amazing transformation! I saw this on facebook @J Scott last week, and couldn't believe the before turns into the after! Love all the finishes inside and out, and thank you so much @Todd Whiddon for sharing all the details on the finishes.
Best wishes for a speedy sale, and can't wait to see the numbers then!
Really nice job guys! I love the open floor plan with the wood floors. @Todd Whiddon
@J Scott
Are you guys 100% flipping houses now or are you holding any remodels for rentals? BRRR strategy. Just curious on the pros/cons you see now in your markets for cashing out in flips vs. holding and renting.
Originally posted by @Michael Rogers:
Are you guys 100% flipping houses now or are you holding any remodels for rentals? BRRR strategy. Just curious on the pros/cons you see now in your markets for cashing out in flips vs. holding and renting.
I'll let Todd add more detail about what he's doing, but yes, we're both buying a few rentals here and there. I'm not finding a whole lot of deals that I'm thrilled with where I live (Maryland/DC area), so I'm not buying as many as I'd like.
Beautiful work! I never get sick of looking at before & afters. So many great ideas. A great reminder that it's not if things will go wrong with flipping but when!
Thank you for posting the pictures, details and rest. Very Inspirational.
Best,
Originally posted by @Wendy Vaidic:
Beautiful work! I never get sick of looking at before & afters. So many great ideas. A great reminder that it's not if things will go wrong with flipping but when!
So true! Like on this house when our $700 tarp AND all the THOUSANDS of dollars worth of hardwood floors we "thought" we could save got DESTROYED in a bad storm!!!
Oh Well! Blessing in disguise as our finished house is now MUCH nicer with a new I-Joist floor system and new hardwoods!
Thanks again for everyone's compliments on this project! Just wrapped up a higher end New Construction house on the Northern Side of GA / Atlanta as well, check it out Here.
@Todd Whiddon You know the trait I admire and appreciate most from your threads? Your great attitude! These projects come with some issues. Even in your posts, you exhibit a "roll with the punches" attitude, perseverance, humor in the face of a setback, and a commendable level of humility. We could all learn more that this.
Regarding landscaping: Yard looks nice! You spent the right amount in IMO. I don't think you should count 'grading, removal of bamboo' as a landscaping item. If you do, you can't compare across your projects. I'd just call it "extra site prep". Rounding error in your but it might help @J Scott make more sense of the numbers if your always estimating sod sf, # bushes, # of trees. Just a thought.
it looks awesome!
i've got a question though... is this "new" home a lot more expensive than the area? i'm just looking at the house next door, and was just wondering if this is a $500k or $600k house in a low $200k (for example) neighborhood?
Originally posted by @Jared S.:
it looks awesome!
i've got a question though... is this "new" home a lot more expensive than the area? i'm just looking at the house next door, and was just wondering if this is a $500k or $600k house in a low $200k (for example) neighborhood?
In the area, there are older existing homes that are lower in price and new builds that are higher in price (lots of investors are coming into the area and doing tear-downs). Todd is currently under contract to sell another home on that street for a higher sale price than this one is listed for, so the values are certainly supported.
@J Scott & @Todd Whiddon & Anonymous,
Amazing! Thank you for the inspiration and motivation! I hope you get what you're asking for it!
Originally posted by @Jared S.:
it looks awesome!
i've got a question though... is this "new" home a lot more expensive than the area? i'm just looking at the house next door, and was just wondering if this is a $500k or $600k house in a low $200k (for example) neighborhood?
Also for @Larry Turowskis question.
Here is a quick CMA for this EXACT "Neighborhood", although since it is intown Atlanta, the "neighborhood" goes more by school district than what would be considered a traditional swim/tennis "neighborhood" in the suburbs.
As you can see there are older homes trading as older homes, older homes being remodeled, and old homes being scraped and rebuilt. Pretty typical for desirable school districts inside 285 on the northern end of ATL.
Here is a CMA for this school district Sagamore Hills Elementary and Lakeside Highschool. I should probably add some kinda disclaimer on this post that I'm a Licensed Real Estate Agent and everything I say should be taken with a grain of salt and/or shot of Tequila, and that all ideas, values, blah, blah, blah are my own opinion henceforth therein etcetera...
As you can see LOTS of activity over the last 6 months! We are playing at the top end of the market, even pushing ARV per square foot abit... But as @Terry Burger says... That's just what we do!
I'll try and do a "drive around" video of the neighborhood sometime this week so everyone can get a feel for the activity going on and the OLD mixed with the NEW.
Originally posted by @J Scott:
Originally posted by @Jared S.:
it looks awesome!
i've got a question though... is this "new" home a lot more expensive than the area? i'm just looking at the house next door, and was just wondering if this is a $500k or $600k house in a low $200k (for example) neighborhood?
In the area, there are older existing homes that are lower in price and new builds that are higher in price (lots of investors are coming into the area and doing tear-downs). Todd is currently under contract to sell another home on that street for a higher sale price than this one is listed for, so the values are certainly supported.
cool, makes sense, i was just curious. i bought your book by the way J Scott. Thanks for the website here - BP is awesome.
Originally posted by @Rick Baggenstoss:
@Todd Whiddon You know the trait I admire and appreciate most from your threads? Your great attitude! These projects come with some issues. Even in your posts, you exhibit a "roll with the punches" attitude, perseverance, humor in the face of a setback, and a commendable level of humility. We could all learn more that this.
Regarding landscaping: Yard looks nice! You spent the right amount in IMO. I don't think you should count 'grading, removal of bamboo' as a landscaping item. If you do, you can't compare across your projects. I'd just call it "extra site prep". Rounding error in your but it might help @J Scott make more sense of the numbers if your always estimating sod sf, # bushes, # of trees. Just a thought.
Thanks RIck! Being in this business without "Rolling with the Punches" is a recipe for an early heart attack!!
Your spot on separating the typical "landscape package" with extra sitework, @J Scott is much better about tracking that kinda thing, I get pretty lazy on rehabs and just dump everything in one big pile since they are kind of one off projects, but on our new construction I separate out "sticks and bricks" and "development / community costs" so that I know how much it is to build "The Ashville Plan House", but depending on which lot I build it on the total project cost will differ. Here's an example of how I break it out on new builds....still refining the breakdowns and categories as I go.
J Scott and Todd,
cool, makes sense, i was just curious.
i bought your book by the way J Scott. Thanks for the website here - BP is awesome.
Very nice work, gents. Looks just great. Would like to do a partnership like this. Mostly do rehab and then hold as rental. We live near DC, but our farm is in Chester and Montgomery counties outside of Philadelphia. Have family there and find the price points more manageable. We have a piece of land that we subdivided last fall in the path of progress and would like to partner with a builder, contributing the land to a new house project.
WOW! Looks like we made the Bigger Pockets Success Story Spotlight for this week! Not sure who is in charge of picking those out, but you have EXCELLENT taste and Thank You!!
And Welcome to all the BP Newlsetter readers who otherwise would have had much more entertaining and informative threads to read! Thanks for checking out our project!
WOW! AMAZING! LOVE IT, YOU GIVE ME HOPE!
WOW! This is what it is all about, Taking something average and making it extraordinary. I'm so grateful you shared!
Nice job @Todd Whiddon and @J Scott
This is my neighborhood that I live in so I can say how amazing it is and I see all the beautiful new houses going up. My next door neighbor is about to tear down their house and build a new one. Just curious as to what street you are on.
Originally posted by @Sheryl Gurvey:
Nice job @Todd Whiddon and @J Scott
This is my neighborhood that I live in so I can say how amazing it is and I see all the beautiful new houses going up. My next door neighbor is about to tear down their house and build a new one. Just curious as to what street you are on.
Will send you a PM... :-)
Neighborhood Drive Around
Here's a quick drive around video I shot today so y'all can get a sense of the neighborhood activity and how the old mixes with the new! Most of the older homes in this area are about 1,000 sq ft give or take, but the school system is REALLY desirable and families want to move in but need bigger homes. Also it's close to some of the hotspots of Atlanta like Decatur, Brookhaven and Buckhead, but it's in unincorporated Dekalb county so the taxes are abit lower.
@J Scott is nicer than I am.... I was gonna have @Sheryl Gurvey, @Rick Baggenstoss, and @Matt Wood all test their Decatur-ish knowledge and guess the street from the above video. But here's a hint for Sheryl.... The street starts with a "B" :)
Thank you for the great humor in your comments, @Todd Whiddon.
The pics were a feast for the eyes and your humor a welcome reprieve in my work day!!! yeah, that would be the 8-5 grind in an office type work :0