Saturday, March 6, 2010

My little jem of a house....

Well like I said I have found the next house to flip...I am taking a much more conservative approach to this one, and have actually gotten to walk through the property since it is not a foreclosure.  Its on Porter, in East Nashville right down from Family Wash.

So here is the little gem...the front at least.  While yes this will need a lot of work, it is partially demoed...and the flipping bug has bitten me again after two years.

Now what is stopping of right now the price is a sticking point.  We are off by a measly $10k....but that equates to new Ikea cabinets, countertops, and professional stainless steel appliances.

A finance professor from college used to always say..."Cash is King."  Granted he was talking about a companies strength is their cash on hand and a positive cash flow, but I feel it applies directly to our current flipping situation.  While we may have the ability to borrow money....we cannot borrow against this house, and the reason this house is being sold, is because the owner doesn't have the cash to fix it up and cannot obtain financing.  Ok bla bla bla right.

In my head I can already see which walls will be taken down, which new ones will be built, where the load bearing LVL's will have to be installed, and which walls will contain the plumbing and hvac stacks....the house has sold in my mind already.  It is a horrible horrible thing, b/c we have come to an impasse with the sellers, and the flipping home of my that as of now....a dream.  To get more of you as excited about this possible flip as I am, I am going to post some pictures of the house, and then later on post what I plan on doing in different rooms and what I feel is "trending" as far as styles and where to add money that you will either see an instant return on investment, or a decreased Days on Market when going to sell your house.  I will also add some awesome ideas and products that are out right now to help your "flip" sell (everyone's home is a flip when they go to sell it, just a really long one depending on how many years or months you have been there).

Here are some exterior pictures:

And now some interior pictures:


And this is the my fine little future flip....stay tuned to what I think it should look like and what I think should be in the house...

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