When my family friend asked for my advice on a property in Altamonte Springs I was happy to lend my expertise. This small block house built in 1960 belonged to her stepmother who had moved to a nursing home a year or more prior. The elderly woman had guarded her privacy and hadn’t let family in for years. She eventually did pass away while in the nursing home. When the family finally entered the house they found out she had been a bit of a hoarder and so they went about the task of cleaning and removing personal items from the home. It had sat uninhabited for over a year, save for the stray cats and bugs that took up residence.
The place was dark and scary with all the dead bugs all over the place by the time I saw it. I gave my friend several price scenarios and we both crunched numbers. The first scenario was selling the house as is, most likely to an investor who would be willing and able to take on an extensive renovation and pay cash. This was a relatively low number, considering the amount needed to update and renovate and of course an investor wants to make a profit. The second scenario was to renovate the house and sell it for top dollar. The third scenario was to renovate the house and my family friend could rent it out and eventually retire there.
She and I had the vision of what the house could be. I had shared with her that I’m learning all I can to become a flipper. I told her what I would offer her for the house as a cash investor. We both created our spreadsheets of what we thought the house needed and our best estimate of costs. We were very similar in our budget. I offered to get together some estimates from local contractors and subcontractors, since I wanted to make those sorts of connections anyway. She ended up going with a contractor I met at CFRI (Central Florida Realty Investors) and she was quite satisfied with his work and the work of his team.
After only eight days on the market and multiple offers we are under contract at OVER asking price —because the renovations are simply beautiful. My friend added about 100 sq. ft. to the “under air” portion of the house by enclosing and attaching the laundry room at the back of the carport. She added an HVAC system where there was none prior. The antiquated heating system was removed as was the window A/C unit. All new windows were installed, electric and plumbing were updated, all new floors of wood looking ceramic tile were installed, brand new cabinets, appliances, light fixtures, doors and more. The house was literally transformed from darkness to light! See the pics below! For more details, click here.
Front View Before & After
Kitchen & Laundry Before & After
Bathroom Before & After
Bedroom Before & After
Half Bath Sink Before & After
Laundry Before & After
I’m very proud to have been involved with this amazing transformation. I look forward to partnering with my family friend and hopefully doing our first flip together later this year! Stay tuned! As always, you know I love ugly houses so if you have one to sell CALL ME at 407-236-6559.