Page and DeRon have found a property in a popular area of Nashville for our Flip or Flop Nashville watching pleasure.
The 1961 ranch home could use a little, OK a lot, TLC outside for some curb appeal and inside is very outdated. Walls will need to come down to open up the living room and the kitchen. The old, smelly carpet will need to come up and hardwood floors will need to go down.
The house is currently 3 bedrooms and 1.5 baths, but if they want to make the right profit on the house, they’re going to have to make it a four bedroom, 2 bathroom house. There’s also a large open basement that is kind of, a little finished. But they don’t want to update the basement because then they’d make no money on this house. They’re just going to focus on the upstairs.
They figure out that the need $44,000 to properly renovate the house (I feel like they always need 44K so why even bother doing the math anymore). The list price for the house is $279,900. Page thinks they could sale the house for $350-400,000. They think they need to get it for around $240,000 to make a decent profit. And they get the house for $240,000 by making a cast offer. That means they’re posted to make a $45,900 profit.
And the demo begins. And instead of a disaster like rotten floors or rusty pipes, they find great hardwood floors beneath the old carpet and decide that can save them $10,000 on the renovation. That means the sellers could’ve sold the house for that much more too. Doh!.
There are actually so few issues with this renovation that they had to shoot Page going to the tree nursery to shop for the landscaping.
They finally run into a slight problem before it’s all said and done, however. So they decided to put in a new window — as in cut a hole into the brick new window — and the people who laid the brick did a horrible job. It seriously looks like they did it in the dark. So that’s got to be fixed. Luckily that didn’t totally derail things and they got the brick re-laid right away. And it’s onto the finishing touches and the staging.
It’s time for the big reveal. The outside of the house went from a dated ranch with zero curb appeal to what appeared to be the best looking house on the block. Go curb appeal!
Inside the house was like night and day. The living room seems much larger and the opening into the dining are and the kitchen made the flow so natural. The kitchen itself, though a bit small, looks amazing. The new cabinets and tile work changed everything.
The new master suite is pretty, well sweet, as well. It’s kind of amazing that they took a wood-paneled den and made a fourth and fabulous bedroom out of it, with a full bath no doubt.
But they true selling point is the new deck they added onto the back. The back of the house reminded me of the back of a painting. You know how you’re not really supposed to see the back of the painting because there’s just nothing there? Yeah, that was it for sure. Now, however, there’s this huge beautiful deck that has a stunning view of the wooded back yard.
It’s no surprise that they listed the house at $349,900 and got the full asking price. After the purchase price of $240,000, closing costs of $20,000 and the $35,000 rehab budget, they made a $54,400 profit.
Flip or Flop Ft. Worth Season 1 Episode 5 Photo Gallery