Flipping Houses-The Wallpaper House: Part 1

 

Flipping Houses-The Wallpaper House: Part 1

 

flipping houses, before and after photos

The “Wallpaper House”

 

When we get to make the laws, it will be at least a misdemeanor to sell a house with wallpaper.   If you want to put it up while you live there, that’s fine.  Take it down prior to selling.  The previous owner’s of this house should be charged with a felony and incarcerated for a long time. Hence our name for this project; “The Wallpaper House.”

Since our intent was to flip this house on our first visit we filled out the Property Repair Estimate Sheet (our punch list).  As previously noted, when investing in real estate , it is important to not waste time completing work on homes you may not even purchase.  With the proper systems, you can review the property and the comps and make an offer during your lunch-hour.  On our initial visit we were able to determine that the house over all was in pretty good shape, but needed to be updated.

Challenges

As our team encountered, when you are flipping houses, wallpaper can be a nightmare.  Taking it down can be tedious, damage the walls, and generally make a mess.  We doubled our painting cost estimate to compensate.

before and after

wallpaper to be removed

wallpaper, bathroom

Bathroom before

 

 

Kitchen Before, wallpaper

Kitchen Before

 

wallpaper

wallpaper house

bedrooms before

 

 

 

 

 

Outside, you can see the yard is almost entirely weeds and the landscaping was overgrown. There is also the issue of  2 trees being dangerously close to the house.

landscaping before

landscaping before

Lastly the home has a Federal Pacific electric panel that has to be replaced. Experts now say that FPE panels can appear to work fine for years, but after one overcurrent or short circuit, they can overheat and become fire hazards. So to to be proactive we normally replace.

The basic plan for the inside is to renovate the kitchen, install new flooring, lighting, and updated vanity tops in the bathrooms. We will also redo the fireplace surround and repaint the entire house after all the wallpaper is removed. Outside, we will clean up the landscaping, paint the siding and deck, then lay sod in the front yard.

Stay tuned to see how the progress of the Wallpaper House goes in the weeks to come.

 

To learn more about Part-Time REI visit us at http://part-timerei.com/

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Erik Hitzelberger has been Real Estate Investor since 2007. While learning the ropes in the market down-cycle, he now teaches others how to use his systems and leverage other people’s expertise to achieve their own goals.

Erik Hitzelberger – who has written posts on Part Time REI.


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About Erik Hitzelberger

Erik Hitzelberger has been Real Estate Investor since 2007. While learning the ropes in the market down-cycle, he now teaches others how to use his systems and leverage other people's expertise to achieve their own goals.

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