Mike Calvert on Flipping Homes

The front

Here is the front of my flip. I picked this lake front gem up for $114,500 and tried to wholesale it for $125,000. After nearly a month with no success I decided to rehab this home myself. This is something I do all the time and I do it because I won’t try to wholesale anything that I wouldn’t rehab myself. I have proven this time and time again. In fact most of the homes I rehab are those homes nobody wanted. So here I go again with the home that no one wanted. I plan on spending $40,000 on the rehab and selling it for $250,000. My goal is to net $75,000 and I will keep those that are interested updated throughout the process.

The first thing I wanted to do was replace the roof to protect future repairs on the inside.

The next project on the front was to demo the garage and prep for a new garage door. This home was a 5 bedroom, 4 bath home with 2282 sqft under air when purchased. When complete the home will have a 2 car garage with 3 full baths, 3 bedrooms with a 4th bedroom option and around 1900 sqft. This home really needed a garage for parking and storage. The last thing you would want to do is obstruct the lake view out back with a storage shed.

The new stucco

The new stucco, new windows and window bands really turned out great. This home had a lot of repairs needed to the block and to make the home look right I chose to stucco the whole house. The windows were old, non functional and had to go. One thing I have learned over the years flipping homes, is that once you improve one area other areas don’t look so good. Once the new roof and windows were installed the soffit looked terrible.

Now I have nice new stucco, windows, roof and ugly soffits. The next thing I had to do was replace the soffit with aluminum siding.

New soffit

Now that makes a huge difference in the outside appearance.

New paint job and the grading for the new driveway

This home now has the feel of new construction. This transformation was all done under 15,000 dollars and I am right on schedule with my 40,000 budget. The inside is where I tend to get carried away and I will have to contain myself to keep this flip on track.

Stay tuned!