I bought a fixer upper at the end of August 2017. It was a pretty quick buy, took less than 2 weeks to close, cash transaction. It had to be cash. Most fixer uppers do not qualify for financing, too risky for banks to give loans. You can do hard money loans, but you won’t make as much profit and the closing process takes much longer. For this property, I plan to flip and sell. This is not my usual business. I usually either: buy properties in okay condition, renovate a bit then rent, buy fixer uppers, fix, then rent, or buy properties in good condition, hold for a while, then sell However, this time, I want to experiment with flipping, as you can make some good-ass money doing flips. Many real estate investors have made some awesome money flipping houses and sell to make a quick profit. I am […]
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How I Turned A Decent Closed Floor Plan Property Into A Beautiful Open Floor Plan And Rent Out In 1 Day
When I first walked into this property, my first reaction was “It’s kinda tight, small and dark” (like a snobbish person would react ). I have valid reasons to back up my snobbish reaction, as I explain below. I will also list all the things that I changed/updated for this property and the total renovation cost.As the title of this article stated, I turned a decent closed floor plan into a beautiful open floor plan. After the renovation, the property is completely opened, bright and airy. It looks like something from a magazine, but that’s just my opinion . You can judge for yourself after you see the after photos below and all the things I did to it.The property at its current state was not bad at all. I like the huge game room upstairs, the nice pergola in the backyard, the family room is quite a good size, […]
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Disaster to Desirably Decent – Another Home Renovation
As I stated in my previous articles, I have done a few home renovations that I will share with everyone. In this article, I share with you one of my very first home renovations. This is before I knew about Chip and Joanna of Fixer Upper and Drew and Jonathan of The Property Brothers , so this is not one of my best renovations. Nevertheless, it is decent enough to be in high demand from renters, buyers, and investors.By the way, love Chip and Joanna and The Property Brothers! These shows are two of the few TV shows I watch, other than The Big Bang Theory (freakin’ hilarious). I know…what a nerd, right? Well, I am proud to be called a nerd, because nerds are smart-asses! Here’s a sneak peak of a before and after photo so you don’t have the urge to scroll down and look at all the photos before […]
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Transform a Boring Condo Into a Modern Condo and Maximize Rent Income
I purchased a freakin’ cute, little, cozy condo around mid-2016 in a prime area in Dallas. “How cute”, you ask? Scroll down and see for yourself (but scroll your ass back up and read everything that I wrote! ). It’s surrounded by shopping, dining, clubs, and bars; walking distance to running trails where you can walk your lovely little pooch, and a $5 uber ride to downtown Dallas and all the cool areas.The condo was in great shape, well-designed and I could lease it out immediately if I wanted to. But I didn’t. I wanted to modernize it and maximize the rent income.For the area that the condo is in (surrounded by new, modern condos/townhomes that easily cost $350k+), there was excellent opportunity to maximize rent with a modern renovation. People who live in that area and those who want to live in that area are young professionals who like […]
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