All Forum Posts by: David Ross

Hey @Eric Hrlbock thanks for asking. Try Skechup. You can use the free version and test it out. This is what I do when trying to spatially figure out floorplans and unit configurations. These were done by an offshore designer using Sketchup Professional. I provided him with our CAD files for the permit set.

Thanks for posting @Troy Sheets !

If anyone has questions feel free to ask. We'll share thoughts and insights on materials, decisions, and processes throughout the project.

Hi @William Watson Welcome to BP! There are literally thousands of us in Philly investing in real estate in many different forms. There are also a lot of people from New York, DC, and California looking at Philly as an area to invest. What are you looking for? Some specifics will help you find the right people.

Love the kitchen design @Tyler Weaver! We rarely have that kind of footprint to work with in downtown Philadelphia, but I hope soon we will. I've been wanting to try a cork floor as well.

I've been using IKEA because it's nearby and I know the system well. I think we're going solid wood next time... I just want to keep the modern sleek look. Our GC loves WOLF cabinets, we'll be looking around for clean shaker or slab doors in dark wood. Thanks for all the tips!

We closed last week and the buyers are a young couple that love the house and neighborhood. 

Timeline from purchase to selling was ~8 months.
Purchased May 15th and then took until mid-July to get tenants out.
Permits approved for renovation late August and renovation lasted through Dec 3rd (three months and one week)

I promised some final numbers so here we go:

Purchase Price: $112,500
Move-out, Architecture, Renovation: $180,950
Cost of carrying construction loan: $4,500
Sale Price: $385,000 with no seller assists
Commission, transfer tax, and closing costs: $29,493
Net profit: $52,476

If you missed the BP meetup that @Troy Sheets and I hosted at the house in Dec, we'll be sure to have another at the next project. 

Thanks everyone for following along through this renovation. Looking forward to the next one!

Thanks Mike, I will update with final numbers once we close in mid-Jan. 

Thanks Matt. The biggest change in budget and increase in ARV was our decision to finish the basement. Our initial ARV of $340k was without finished basement. Our estimate of $360k was conservative with a finished basement. The cost to scrape the basement level, repour concrete, framing and all finishing came in around $20k. While we thought this was a wash - the added value was more than we estimated. The budget also ballooned from structural changes, getting taken for a ride for HVAC, deciding to expose the brick, and our finishes.

Washer room - in the ceiling compact duct unit for the second floor. That's the access panel. There's one on each floor, hidden into tops of closets.

Third floor, there's another access panel in the master closet ceiling for the compact duct unit on this floor. @Troy Sheets correct me if I'm wrong, but we have three interior compact duct units, two exterior condensers, and 3 wall evaporators.

Project complete and listed for sale!
1,800 Sq. Ft.
3 bedrooms, 2.5 bath.
Asking $384,900
https://www.coldwellbankerhomes.com/pa/philadelphia/2004-tulip-st/pid_9512969/

We decided to go with staging to help define each space. We're glad we did! I'll beat @Troy Sheets to post these shots:

Front of the townhome. House numbers went on after photos taken. We have a color we've grown fond of for our entry doors - fresh and definitely grabs attention!

Front living area: 

We initially thought this front room was going to be uncomfortably small, but getting furniture to scale actually made the space feel larger and more functional.
Dining and kitchen areas, also a half bath to the right of the dining space:

Heading upstairs, we have two bedrooms (one with Troy's custom balcony), a laundry room, and a bathroom with double vanity.

Tub photo makes it look extremely short, it's a standard length and soaking depth.

Now heading up to the third floor master suite and walk-out roof deck:

Closets closets everywhere. Sing it with me!

Here's the master bathroom and 2-person shower and my space-aged shower system.

At the top of the stairs and on the same level as the master suite, we have a wet bar and access to the roof deck.

Heading back downstairs, we made the decision to finish the basement half way through the renovation, so glad we did! 

And lastly, heading out back to the half-pavered rear yard.

Troy's balcony.

Bright and red, it pops. To the right there's a lot that will be developed in the coming months. We may put an inexpensive fence up in the coming days to separate the space.

And there we have it! Thanks for following along! Feel free to ask any questions on materials, numbers, or decisions. It's been fun to share this process with everyone!

Thanks to everyone that came out! We're blown away by the support and community from BP.

Awesome - Hope to see you guys there! Here's a sneak peek of photos we took today before we get the final ones on Friday.

@Janelle Green

@Renee Gambacorta

@CJ Wallowitch