Flip or Flop – Freeway Flip

Tarek and Christina are in Anaheim today, working with this what appears to be a charming ranch which is parked right next to the freeway! This can make for a tough flip but the house has a nice pool, great curb appeal and I’ll assume a good price!

One of the first things they noticed is the dual pane windows that a previous owner saw fit to install.  This is a renovation touchdown!  It isn’t unusual to find multi-pane windows in high noise areas and we’ve actually heard of airport authorities buying them for homeowners so they can get runway additions approved.fof12

The house has the typically chopped up floorplan and the home was also added on to at some point but a permit search shows that the addition was approved by their local municipality.  Take note:  This is how you make money in real estate.   By re-configuring the floorplan and moving a bathroom they were able to take previously undeclared open space and create a master suite out of it.  This allows them to increase the number of bedrooms reported on the appraisal which instantly increases not only the appraisal value of the home, but a buyers motivation to buy it.

But as cute as the house is, it held some dirty secrets.  Some really bad termite damage, knob and tube wiring and a leaky roof drove the reno over budget.  But Christina saved the day with some fairly daring design choices…who would have thought that black trim would turn out so well!  The pool area turned out to be a huge plus but as is often the case, the concrete surround had been painted and they had a difficult time getting fresh paint to stick to it.  Dropping another $2k for sandblasting didn’t solve the problem as the concrete had originally been stained but how would you ever know this…that’s $2k down the tubes but these are the chances you take.

Their efforts paid off here as the house eventually sold for 30k over list!  Time to find another house to flip…

Flip or Flop – Custom Craftsman…

Today, a friend reaches out to Tarek and Christina looking to partner up on a craftsman-style home in a historic area of Santa Ana.  This house is absolutely hideous but a complete electrical overhaul and a tasteful remodel that pays tribute to the original design of the home transforms trash to treasure.

Thankfully, these guys are pros and knew instinctively what to do with this home but it never hurts to be lucky either!  This was never more true than refinishing the original floors although they originally wanted to use a high end laminate to cover them up.  This is understandable on a house this old as you’ll often find that the floors are too worn and have been sanded too many times to be salvaged.  They were brave to refinish the floors themselves as this is a recipe for disaster as sanding floors is all about technique especially in a home this old.  It’s very easy to “gouge” the floors with your average drum sander, especially if you’re working with the softer materials like pine but in the end, it worked out.fof1

We also liked the wainscotting because it’s fairly affordable, fairly easy to work with and looks great!

We were however, a little concerned about the use of “current listings” for comparibles at the end of the show.  Using properties that haven’t been sold yet to establish a retail value is tricky business and if the numbers are the least bit tight (as they usually are) we can’t recommend doing it.  But hey, it’s TV and sometimes, they’re just aren’t enough completed comps to make an accurate comparison…just be careful!

They made money and the house looked great…what more could you ask for!