Good News - A potential price point for our house.

So a house just 2 doors down that has been for sale finally sold, just last week. I called the Realtor to ask how much it sold for, she said 125,000.00. Great news for us, we were hoping to be able to sell ours for at least that and given this news we should be great! I will probably put it on the market at $160,000.00. Yee Haw

Getting close to being done.

The house is coming along. We have mostly finished with the plumbing and electrical. (I hope all passes inspections.) We had some outrageous quotes from local plumbers, one was like 18,000! I think he just didn't want to do the work. Another was around 12,000. We finally found a guy from south Louisiana, about 3 hours away, to come do it for around 6,000. So it defiantly pays to keep looking for a better price. Our electrician got the work done also, just a little prodding from us.

Next we are installing the A/C and Heat. Have gotten two bids so far, both over 13,000.00, yuk. So I am still looking, I think I have a guy now that will do it for under 10,000. We still have to buy cabinets and counter tops and some other odds and ends and are running low on funds. So it will be important to try and save some money going forward. Will let you know once we get the AC situation figured out...

Outside work is done!

Here are the photos from the completed outside of the house. We found a local contractor just by driving around the area. As you can see he did a great job on the outside. Posted are before and after images of the outside.

The only work I did on the flip.

When we bought the house on Sheridan the plan was to do as much of the work as possible. Obviously this would save on labor costs. In reality, I have not had much time to dedicate to the work. I did replace a load bearing wall on the house, without any experience. I read some articles on the internet about the proper ways to do so and bought a good framing book from Home Depot. It took me about three weekends and about 20 hours in total. One contractor I had at the house told me that it was done correctly, but a crew could have done it in about 2 hours.

This is what the wall looked like when we bought it.

This is what it looked like after about 5 hours of work.

This is what it looked like when finished!

Welcome to 1029 Sheridan. My first flip!

Found this house to flip in Shreveport, La where I live.

I had considered flipping for a while and spent a couple of months looking around. Finally I saw this one with a for sale sign in the front. As you can see it was ripe for a flip, or maybe a bulldozer. Anyway I got it for a steal, here is why. Basically it appeared to be in bad shape because a previous attempt to flip it flopped, but the house was structurally sound with a brand new roof, including decking and rafters (thanks to the flipping floppers). Unfortunatly (or maybe fortunatly) the last guys left the windows out too, and pigeons moved in. This made quite a mess on the inside and helped to make it ever more un-appealing. But once the pigeon poop was cleaned up it was clear the house was structurally sound and just needed (alot of) tlc.

Well we have been working on this project for about 2 months now, just starting the flipping blog because the idea just came to me ;). But I have owned the house for about 5 months. Not moving as fast as I would like, but we are waiting on some financing to come through. I will provide some background on who is doing the work and how we were able to finance the project in my next post, in the mean time enjoy these photos of the house!