Rehabbing With Little Money II
Welcome to the newest post “Rehabbing With Little Money II”. So, as promised from the previous blog post “Rehabbing With Little Money“, here are the pictures. But wait.. before I do that… I need to say something. Re-reading my previous post(s) I seem to come across as if I am trying to educate you on how to do this and that. I should say that is not the intention. Every flip is a completely new learning experience, and it is always new territory for us.
Then do not get mislead by the title of this blog entry. Flipping with little money is feasible in certain cities. Those familiar with CT’s market, will know that buying houses in cities like Madison CT, we would never suggest to be cheap. Buying a house in Guilford Connecticut is also a good way to get a good sale going when the house is done. Those are expensive markets and the houses demand a good rehab. Cities like Waterbury on the other hand, yeah, be cheap!
So I was talking about doing a flip really really cheap (yet a good quality flip). So the fine print here is that “Cheap” is not meant as low quality or low end finishes. It is just meant as “as little money as possible, while still delivering a quality home”. The intention here is to provoke discussion and where you the reader can pitch in with ideas or suggestions. In the end, anyone reading this that is doing flips or will do flips in the future can learn a thing or 2 with invaluable suggestions from people that did it before, made mistakes before and know what they are doing.
OK so we showed you what the place looked like here. Now… look what we found…
Yes!! There is beautiful brick on every external wall. Only internal walls are sheetrock (well plaster), and we have only very few internal walls. This means, no framing, no sheetrocking, no taping no mudding and no painting! Ohh… and no need for a kitchen backsplash. You know what is even funnier Do a google search on “Internal brick wall”. You will find countless of “how to” pages on emulating a brick wall. Yeah… people actually pay a lot of money to create the brick wall look, and they go as fas as splashing mortar on the wall to make it look more real!
Well we already have it.. and it is real!
This would save us about 12K on painting, framing, sheetrock mudding taping etc. etc. We just visited a fancy apartment complex where they converted an old brick building into lux apartments. They ran metal electrical conduit over the brick. It looked so nice! So, that is the idea so far. As we go along I will try to find more ways to get it done as cheap as possible.
Let me leave you with a few images I found…