House Flip Background and Plan

We searched for quite a while to find a property to flip. Originally we were under contract for a short sale inside the beltline, but the bank would not approve the verbal contract we had with the sellers. After heated discussions of how and where to look, we kept our eyes and ears out for the North Hills area. The investor/builder found a property on Currituck that was a For Sale By Owner (FSBO) that was being sold by the heirs to the house. The property was originally built in 1963 and owned by, I think, one family that raised 4 kids through high school. The surviving mother was the last person to live there and had recently passed away. The home is 1800+ sf, 3br, 3ba split level.

When we first walked through the home you could tell it had not been well kept over the years. There were water stains in certain areas. It had hardwood floors throughout the main floor and upstairs bedrooms. The flooring was about the nicest feature of the home. Everything was original from the wall paper to the bathrooms, kitchens to the wall colors throughout the home. When pictures were removed from walls you could see where it was hung from the outline of dust and dirt that had accumulated over time. The kitchen cabinets were a light blue! There was no a/c, but it did have 3 window unit a/c's, but who know how old they were. The basement was divided into 3 rooms with an uneven floor. As you can see in the picture, there is not a blade of grass in the front or back yards. It is ugly and has no curb appeal what so ever. There are huge trees throughout the lot that shade the entire yard. One tree dangerously hangs out over the the top of the house.

The Plan is extensive. The big plan is to create a usable and appealing yard, gut the entire house to the studs, take off the roof, turn the 3 bedrooms into 1 master suite, build another level above the living rm/kitchen side with 3 bedrooms and 2 baths, finish the walk-out basement, create a brand new kitchen and build a "Carolina" room or screened-in porch. And do all of this in roughly 6 months and have it ready for new owners by April or sooner.

The fun part about this is that project is that I will get to work on the house throughout the process and when it's done to list it for sale! So stay tuned to see how it all unfolds!!!