Beautifully remodeled home in a lakefront community, close to west Orange trail and Oakland nature preserve. This home has new flooring, paint inside and out, remodeled bathrooms, new kitchen with granite, solid wood cabinets and stainless steel appliances. The floor plan includes a large master bedroom with 2 walk in closets, a master bath with walk in shower, garden tub, his and her vanities. The kitchen has eat in area and over looks the large family room with high volume ceilings. This home also has formal dining, office/extra bedroom and huge bonus room upstairs.
Fabulous new home construction in College Park. Wonderful modern finishes you will love! Open floor plan with kitchen open to large inviting living space. Granite counters, tiled back-splash and built in GE profile stainless steel appliances including convection oven and induction cook top. Fabulous, large downstairs master with spacious master bath, double vanity sinks and separate tiled shower and soaking tub. Another bedroom down stairs, great for nursery or craft room! 5th bedroom great for guests because it has access to full bath, is also downstairs. This bedroom could also be used as an office or den. Spacious laundry room (12 X 7) with laundry sink and nice cabinets built-in. This home is a 4 bedroom 3 full bath with an office/den or 5 bedroom 3 bath, in addition to a bonus room upstairs for an extra computer room or game room hang out which is 17 X 11. The home has an amazing amount of storage including a deep under the stairs storage and a custom designed walk- in closet in the master bedroom. Visit our remodeled homes page for more info.
One of our latest College park additions with an elevation change in the front. We increased the square footage 1100sf by adding a large family room, master suite, indoor laundry and making kitchen bigger. This remodel also included a re-wire, re-plumb, Insulation, HVAC, roof, trim, flooring, stucco, windows, paint, kitchen, bathrooms, landscaping and much more. This property was a home we purchased from a private seller through probate. The owner could not afford to fix all the needed repairs. We paid more than the home was worth as a flip and ended up buying anyway. To make the deal work we had to increase the square footage at least 1000sf. College park is full of small homes on decent sized lots that will allow for this kind of deal structuring.
New construction home with 4 bedrooms, 3 full bathrooms, 2 car garage and 3282 living sqft. This amazing transitional designed home is located in desirable Delaney Park. Close to downtown, ORMC, SODO, restaurants and shopping. Blankner and Boone school district. This home features a gourmet kitchen with all wood cabinets, granite counters, tiled back splash with under mount cabinet lighting, stainless steel appliances, large walk-in food pantry. The master bedroom suite is huge with large walk in closet and back patio access. The master bathroom includes double sink vanities with plenty of storage, designer fixtures, large luxurious soaker tub and large step in shower. The large family room is right off the kitchen, master bedroom and guest bedroom downstairs, huge bonus room upstairs and plenty of storage. This home comes with a 10 year builder warranty and is built with the priority of long term energy conservation in mind. Included is a 15 Seer heat pump system from Rheem for each floor which exceeds current building codes. Energy efficient foam material is added to all block cells and attic insulation is maxed at R38. The use of the radiant barrier is additionally installed under the roof deck for maximum energy efficiency.
New construction home with 4 bedrooms, 3 full bathrooms, 2 car garage and 3311 living sqft. This amazing transitional designed home is located in the heart of downtown Orlando. Only a ½ mile walk to lake Eola and Thorton park restaurants. This home features a gourmet kitchen with all wood cabinets, granite counters, tiled back splash with under mount cabinet lighting, stainless steel appliances, large walk-in food pantry with a separate butler pantry. The master bedroom suite is huge with large walk in closet and back patio access. The master bathroom includes double sink vanities with plenty of storage, designer fixtures, large luxurious soaker tub and large step in shower. The large family room is right off the kitchen, master bedroom and guest bedroom downstairs, huge bonus room upstairs and plenty of storage. This home comes with a 10 year builder warranty and is built with the priority of long term energy conservation in mind. Included is a 15 Seer heat pump system from Rheem for each floor which exceeds current building codes. Energy efficient foam material is added to all block cells and attic insulation is maxed at R38. The use of the radiant barrier is additionally installed under the roof deck for maximum energy efficiency.
The Arthur ave flip was one of the dirtiest homes we have bought. We stripped this house down to the studs, re-wired, re-plumbed, new AC and duct work, new windows and complete remodel. The exterior we changed the brick to a lime washed look, the front porch was made bigger and we changed the elevation.
Our Village View flip was one of our more challenging floor plans. This home had walls everywhere including what was once a converted atrium into a bizarre room of lattice. We opened the whole living area into one open space. We converted one of the many halls into a large walk in closet for the master. The master bath was changed up to allow more space for a double sink vanity and walk in shower. This flip went very smooth from start to finish. We were on the market for about a week selling and sold this flip for $332,500. That is $7500 over what we original wanted when we first purchased this flip.
Here is our Thunder trail flip that we did the summer of 2015. We did a major face lift on the front of this ugly mid-century modern home. We used the existing lines and feel of the original plan on the interior. The main changes on the inside was the drop ceilings everywhere that is common with a flat roof. We removed all the boxes used for the AC duct work in the living areas and ran them on the inside wall of the bedrooms to help conceal them. We also built a drop ceiling for the AC ducts over the kitchen bar top. This helped get air to the kitchen, living and dining. We hung lights from the drop ceiling and made it the same size as bar top in the kitchen. This created an illusion that the drop ceiling was meant to be there. The front of the home we created a stained wood wall to match the wood grain garage door. The rest of the home was cosmetic repairs.
Here is one of our latest flips on Lake Irma. We increased the size by 400 sqft, making the kitchen, master bedroom and kitchen bigger. We had to remove the back of the home to accomplish this. Check out the video below to see the amazing transformation.
Here is another new construction project. We purchased this property on 2/27/14 and sold on 8/11/14. This project took 5 1/2 month’s to complete from start to finish. The total construction time after we demolished home and received our permit was just over a 100 days. The single story block home is 2250sqft, 4 bedrooms, 3 bathrooms and has deep 1 car garage. This home is the same model as the Pinecrest home with a few changes to the bathroom areas.
Here is one of our latest flips in Colonialtown. This was originally a 3 bedroom and 1 bathroom home with outdoor laundry area. We changed the floor plan on this home making the living room and master larger. We also added a bath to the master and created indoor laundry area. In order to make indoor laundry we had to use part of the garage, so we built out the front of the garage. In the before and after you can see the changes to front. This 1333 sqft home recently sold for $257,000, that is $192 per sqft. This property was on our wholesale list at 135k and we had an ARV of 225k. We were told by several investors that we would never get 225k. This property was on the market 22 days.
There is a hot topic amongst many in the Central Florida real estate market and that is flipping houses. This particular investment strategy involves three major steps which could be described as follows:
- Buy a piece of real estate (preferably somewhere in Central Florida)
- Fix it up (preferably for less than you paid for it)
- Turn it around (or flip it) quickly on the market at a higher price
You can probably see why this holds appeal for many people interested in trying their hands at real estate investment. This is where we’d just like to pass on our few words of caution and advice for people interested in taking this step on their own. Just like any potentially lucrative venture, success will require a few things. It’s going to take patience, skill and some money of your own.
Home Flipping Advice from the Experts
Some people are interested in trying their hand at flipping properties but don’t want to go at it all on their own. This is one of the areas we specialize in. If you’re still leaning towards more of a DIY mentality, we have some words of wisdom worth considering in advance:
The world of real estate investment can be very exciting and quite lucrative for people who know what they are doing. That being said, there are several real estate investing myths that could get newcomers pointed in the wrong direction. The investment market has turned around here in Orlando over the last year, and we’d love to see you starting off on a solid foundation.
Today, we are going to dispel 5 common misconceptions that could be holding you back from realizing your full potential.
1) You Need to be a Landlord to Collect Passive Income
What many people don’t realize is just how big of a commitment being a landlord is. If you’re a busy person, then you might not have time to do this right. But this isn’t the only way you could collect passive income through real estate investment. You should consider hiring on a management team that can handle the direct dealings with tenants. This way you can still benefit from this secondary source of income without it becoming a major pull on your time.
(Quick Note: You’ll still need to provide some routine oversight on your properties with a management team in place.)
A new report shows that flipping houses may be the way to go in the Orlando metropolitan area. The gross profit from the average flipped listing grew to $37,615 last year– compared to $36,518 in 2012. The report has certainly peaked the interest of many savvy real estate investors in the Southwest.
The average selling price for a home in the Orlando housing market increased by 20 percent over the course of 2013. Investors that were able to purchase and re-sell listings within a sixth month window realized significant profits, based on studies conducted by the real estate research group, RealtyTrac.
(Quick Fact: Reported profits from these flipped homes do not reflect the cost for improvements and repairs incurred by investors.)
“Strong home price appreciation in many markets boosted profits for flippers in 2013 despite a shrinking inventory of lower-priced foreclosure homes to purchase,” explained Daren Blomquist, RealtyTrac’s VP.
The average flipped home in Orlando was sold within six months for a sales price of $153,849.
The reported number of Orlando properties changing owners within six months has been growing over the last three years:
- 924 homes in 2011
- 1,831 homes in 2012
Here is another brand new home that will be on the market by Feb 10th. We received our permit to build on Nov 1st and started the next day. Prior to getting our permit to build we had to get a permit to demolish home. This took about 3weeks from the time we applied for permit to the time home was demolished. Our time to build is right around 100 days on this project. It wasn’t easy considering we had Thanksgiving, Christmas and New years. I will update with recent pictures soon as we are much further along than what is shown below. This home has 4 bedrooms, three bathrooms and 2250 heated sqft. The retail price on this home is 399k.
Above is plumbing rough in.
Slab poured and block finished.
Exterior block pic.
Stucco and siding complete.
Formal living room.
Here is the before pictures of the New Hampshire house. We demolished the front portion of the home to the right and the garage.
When complete we will have 4 bedrooms, 3 bathrooms, den, formal living and dining, huge kitchen with breakfast area and large family room.
The total heated square footage will be just over 280sf. This home should be on the market by March 7th and listed at 650k.
The middle section is all we saved, just under 1000sqft.
Here is an interior view of what is left. The posts you see is holding until the new support walls are built.
The new block and new garage with upstairs living area.
Another view of the exterior framing.
Prepping for new stucco.
Another view before stucco.
Stucco is complete. We have some custom foam bands for windows, doors and around top to be installed later.
Here we have some of the new custom foam bands in place, but not finished.
Economists and real estate experts made predictions for the housing market in 2014 at a recent summit in Orlando. The current forecast is that prices will continue to increase by 4 to 6 percent– a markedly decreased rate compared to this year. It looks like 2013 could be a tough act to follow…
Frank Nothaft– Chief Economist for Freddie Mac– doesn’t expect home prices to grow at the rate they did this year. He was one of the influential speakers at the annual summit held for Florida Realtors. Price growth is expected to be more moderate.
Please don’t take this as a bad sign. The overall outlook for the 2014 Florida housing market is definitely positive, especially for those looking to sell their home. Here are just some of the specs for next year:
- Stable home sales
- Increased mortgage rates
- Higher average sales prices
(Pessimistic view: some forecast that home ownership rates will drop to a 20-year low.)
Prices for single family homes in metropolitan Orlando outpaced the rest of Florida during this year. The median price in Central Florida was just under 175,000 for October– 28 percent higher than the prior year. Home prices jumped up by 17 percent across the Sunshine State during that same time.
The current growth in the housing market has tempted more people into taking the investment plunge. Is this the right move for you? To make the most out of a real estate investment (or even simply to avoid disaster), you’ll need to make intelligent decisions from the get-go.
If it’s your first time investing in the Central Florida housing market, here are a few investment tips that you should keep in mind:
1) Good Investment is a Numbers Game
Successful investing is a numbers game. You want to avoid becoming emotionally invested in the property. This is not going to involve the same metrics that you might focus on for your family’s residence. To play this numbers game well, keep these three points in mind:
- What you need to spend to purchase the property.
- How much it’ll cost to refurbish the property.
- What you’ll be able to sell or rent it for.
2) Have a Strategy in Place
You’ll avoid plenty of issues if you know your strategy and stick to it. Are you looking to fix up homes or buy and hold until property values come up? This is also an essential practice if you are learning how to flip properties. Having a strategy in place allows you to react effectively to the unexpected without losing sight of long-term goals.
Realtors in Florida have joined their voices with others in asking Congress to discontinue some of the reforms that have been made to the nation’s flood insurance program. If you’re not familiar with these reforms, then it is probably because you don’t own property within the lines of federal flood-zone maps. As of this month, homeowners with flood insurance will be contending with massive premium rate hikes.
Dean Asher, president of Florida Realtors, spoke on the behest of Florida’s Governor Rick Scott to assembled members of the Florida Cabinet at the end of September. During his discourse, Asher warned of the “unintended consequences” which could wrought on property owners as a result of the Biggert-Waters Flood Reform Act of 2012.
Can the Florida Cabinet Take Action?
Asher requested that the Florida Cabinet take action and call on Congress to delay the implementation of the rate increases for newly purchased and grandfathered properties until Federal Emergency Management Agency (FEMA) had the opportunity to turn in the affordability study that is required by the Biggert-Waters law.
This study should have been submitted to Congress last year. However, Craig Frugate, the director of FEMA, has said that the affordability report could not have been completed in the allotted time period. Frugate also stated that he needed legislative authority to have postponed these rate hikes.