This week on Flip or Flop Nashville, Page and DeRon ran into problem after problem in their renovation that had them calling it one of the worst flips ever.
The found the 1947 home in a high market area of Nashville, so they rushed through it to see if it was something they could profit from.
DeRon decides the exterior would cost about $10,000 because they would need take down the siding and pour a whole driveway. The inside of the house is weird. The first room is really small. It’s too big to be an entryway but too small to be a living room. And the kitchen is super outdated with wood paneling and linoleum floors. There’s also a really large laundry room that is wasting a lot of space.
They decide they could take that extra space and make the house into a 3 bedroom and add a bathroom in a master suite.
It looks like they can really turn this house into something special so they know they have to move quickly. It’s listed at $190,000 so they decide offer cash with no inspection and a fast closing. DeRon sees the renovation costing $60,000 so if they sell the house for $324,900, they could make a $54,000 profit.
And that’s where any good news stops.
As soon as the demolition starts, the problems follow. DeRon wants to keep the fireplace but it’s in really bad shape ad literally collapse at the slightest touch. And it gets worse. As soon as they removed the old vinyl siding, they of course discover there’s asbestos behind that. So they have to remove the asbestos. So that’s more money and more time.
And it gets even worse.
Behind the asbestos is rotten wood, lots of rotten wood. That also means the whole chimney has to come down, so DeRon’s fireplace i slipping further and further away. Page shows up and is devastated to see the house in complete shambles. inspect a house. She says it just looks like a money pit now.This is why the average home buy gets a home inspection first.
The house is down to a frame basically, so they’re pretty much starting from scratch at this point. It’s definitely “one of the worst flips ever,” DeRon says. He also lets Page know they are officially $15,000 over budget.
Once the house is partially rebuilt, it’s time to take a look. It might have been a disastrous flip, but all that extra work really paid off. They tore out the ceilings in the living room and kitchen to vault them and they look incredible. The tiny living room is now a decent size and the kitchen flows into the dining room in an open concept. And DeRon was able to add one of his special floating fireplaces to make up for the one they lost.
The master suite is a real suite now, as well, with a fantastic bathroom and a walk-in closet. It’s now a beautiful house and is basically brand new.
They list and sell the house for $324,900, but the profit is less than they hoped at $39,900.
Flip or Flop Nashville Season 1 Episode 6 Photo Gallery