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Updated over 8 years ago, 05/19/2016
First Flip - Just started - 4/18/2016
Hello Everyone,
We are in a ESCROW for flip opportunity in Southern California, in Los Angeles. The escrow will close by the end of this month. I am assuming it would take two months to renovate. The following is what we need to do in this house, Pretty much all interior.
- Demolition including tree removal
- 2.5 Bathroom upgrade - completely remodeled - no structure work
- Kitchen upgrade - may be a little layout change to include a island
- All flooring
- change the doors,
- Prime New Garage doors
- Windows
- New AC
- Roof Repair
- Interior doors and exterior entry door
- Paint
- Landscape
Square footage of the house:2200 and lot is 14,000
Any thoughts and comments ?
Congrats. Where did you find the deal?
MLS. I will provide more details when the escrow is closed.
Nice! What part of LA, year built, and anticipated exit price? I have clients looking for off-market properties.
congrats on the first one! I'm also in escrow for my first one. Post pics and pricing details when you get a chance
Pandu Chimata congrats! It's inspiring to hear this in our super tough market! Good luck and looking forward to seeing the progress!!!
@Pandu Chimata Congrats! it sounds like it should be fairly straight forward. Just a heads up that some things like replacing windows and any electrical work can sometimes require a permit in LA. People get away without it but it should be on your radar.
Congrats! The first of many I'm sure!
Congrats! Please post on here when it is close to be finished. I may have a buyer :)
#3 Contractors Contributor
- Contractor
- Los Angeles, CA
Window requires lead testing, and for sure electrical at kitchen will for sure do, can't imagine an island without electrical. Good luck OP.
Thank you all for tips and best wishes. I will keep you posted as we move into the journey.
Hi Pandu Chimata , it sounds like persistence has paid off for you. Congratulations and wishing you future success!
We got the keys to the property and planning to start the project staring from tomorrow. Here are the few photos.
Entrance:
Entrance from Inside:
Living Room: Windows are big and facing the entrance
Living Room: fire place - the room next is master dining room- connected to kitchen from the other side
Kitchen - connected to master dining room the left hand side and on the right hand side it goes out to carport
Kitchen to carport. On the way, there is huge pantry, half bath room, laundry machines, and laundry sink.
Patio from inside the family room. Family room is connected to kitchen as well.
Patio from outside. Behind the glass door is master bed room.
Patio from the backyard
Master bed room closets and way to master bathroom:
Master bed room:
Master Bathroom:
Master Bathroom:
Common bath room:
Common bath room:
Common bath room:
Garage:
Back yard:
Backyard:
Planning to open the wall between living room and the kitchen to go into open concept.
so living room, kitchen, master dining room and family room, including the patio will come under the open concept.
Planning to close the patio and making into sun room with fixed glasses on the backyard side.
Congrats. Best of luck with the project I hope it goes well.
congratulations on getting the flip under contract.exciting
Week 2 - work is in progress:
Before:
After:
Living room + Kitchen + Dining room: Open concept:
congrats @Pandu Chimata , looks like a complete overhaul, how much you budget for the repair? do you use 70% rule? if you dont mind sharing the math to us newbies, that would be appreciated.
thank you, congrats again
70% rule - yes.
I have a partner on this deal. I didn't ask him yet about sharing the numbers. If he is ok, I will share the numbers at the close of the deal.