Another San Diego Flip 05'

tomtarrant · #1 04-12-2008, 03:02 AM

This house had the killer lot. Almost 1/3 acre in Clairemont. That pool was buried, I dug it out and we epoxied it for about 350 bucks! Came out killer, huh? The before/after shots are taken from nearly the same angles so in some frames the house actually appears to morph before your eyes, I thought this was pretty cool.

Have Fun and Happy Investing!

Tom Tarrant
www.tomtarrant.com

Lady Flipper · #2 04-12-2008, 02:31 PM

Nicely done. The morphing is good stuff.

badmomma · #3 04-13-2008, 10:56 PM

That is absolutely amazing. How much
did you actually have to spend to make
it look that good? I loved the changes to
the landscape. They seem simple but were
dramatic looking. The color changes to the walls
and the flooring gave that home some real character.
Thank you for sharing it with us.

tomtarrant · #4 04-14-2008, 06:02 PM

Quote:

Originally Posted by badmomma

That is absolutely amazing. How much
did you actually have to spend to make
it look that good? I loved the changes to
the landscape. They seem simple but were
dramatic looking. The color changes to the walls
and the flooring gave that home some real character.
Thank you for sharing it with us.

Thanks badmomma. The budget on that one was close to 35k. I do all the work myself so I can make my money go alot farther. The only thing I subbed out was the concrete work in the backyard. That was my favorite backyard, the 1/3 acre lot goes all the way up that back hill. I'll look back in 20 years and wish I kept that one probably. Have fun!

Tom Tarrant
www.tomtarrant.com

JaredfromIndiana · #5 04-14-2008, 11:35 PM

How long did take you on that one?

tomtarrant · #6 04-15-2008, 02:19 AM

Quote:

Originally Posted by JaredfromIndiana

How long did take you on that one?

I think it took 3-4 months. They all seem to take that long for me because I do everything myself. That house had paneling throughout, when I pulled it off there was construction adhesive

, lots of drywall patching, then retexturing. Same with the ceilings, scraping the cottage cheese led to alot of patching and retexturing. The flooring was laminate, it goes quick as you know. Putting in the new windows is pretty quick and I can paint pretty quick too. Tiling takes a while.

The quickest house I ever did took 3 weeks and my largest project is posted as "big flip in San Antonio" on youtube, which took 6 months. Everyone always tells me to stop doing all the work myself so I can be doing more than one house at a time but I disagree. I think the hardest part is finding the right deal (make your money when you buy), and theres not that many deals that meet my criteria so I am always looking. Plus, there is less risk only doing one at a time, I remember when 911 happened, all real estate came to a screeching halt. God forbid, but it would suck to be holding 2-3 houses if that happened again or a major market shift took place.

Have fun,

Tom Tarrant
www.tomtarrant.com

JaredfromIndiana · #7 04-15-2008, 01:10 PM

Well the houses look great, nice job and thanks for sharing!

You say that people tell you to stop doing all the work... makes me laugh that everybody is an expert on what you shoud do right? When I started I did all the work I could because that is where I was and wanted to do. At this point I am hiring out everything so that we can grow and do more and more (at least 10 flips this year)

I say if you are comfortable with what you are doing then you are way ahead of most people anyway! It's all in where you want to go and what you want to do. I would actually love to own a Homevestors Franchise in the next few years... but that's just me.

Thanks for sharing and good luck to you!

Lady Flipper · #8 04-16-2008, 02:40 PM

I have not made a career of it but my flipping stretches over 30 years. I am too old to be doing it myself anymore.

My first was quite the adventure - I bought a completely run down duplex in Oakland, CA when I was 18. It was falling apart, floors in bathrooms were rotted through with gaping holes and so on. Shingles falling off the walls, holes in the roof, the foundation bad, and one room was sitting on rocks, just plain old uneven rocks, no other foundation. Cracks in walls and ceilings. It was built in 1911.

The most trouble I had is convincing rental places to rent me tools - the hardest one was the sander for the hardwood floors. The guy insisted that a young girl could not operate it.

Took me over a year to fix the place ( was also working to make money) and I ended up so over budget I financed some of it with credit cards. Nuts.

I bought the place for 35,000, it cost me 12,000 to get it all fixed, and it was worth 84,000 when I fnished. I refinanced to just cover the 47,000. I then rented out one unit and lived in the other for free until the rental had paid off the loan (12 years). I did another one in that time span.... and invested some with another "rehabber" as we called it then.

When I sold the duplex it went for a whopping 260,000. Those were the days.

I was always self employed so it was easy making time for projects. It's an itch I will never get rid off - when I see a rotten house in a nice neighborhood I get the fever.

JaredfromIndiana · #9 05-28-2008, 01:31 PM

Wow!! Great profit on that one Lady Flipper!!!!

Lady Flipper · #10 06-06-2008, 02:06 PM

Yeah, and essentially it cost me the $5000 I paid down. The rest paid itself off over the years, and was never money I owned or paid for.

Of course I spent a long time there, but I enjoyed living there.

Today is a good time for flipping IMO. I need to get finished building my house and look for something to pick up cheap...