Hey, it’s Michael Williams and Paige Le from let’s get paid.com. Coming back at you today from Richardson, Texas would like to give you an overview of a completed rehab. We’ve done here in Richardson. This home is built in 1978 as the 2,400 square foot. Two story four bedrooms, two and a half baths. When we purchased this home, it had been very, very neglected, needed, a major rehab and repair. It’s another home that was bought to us by one of the investors on our mentor protege program. Something that you can be a part of as well. So come take a view of this property with you, and we’ll give you an insight into how we rehabbed and resold this property for profit. The backstory on this home is that the previous homeowner had experienced illness and let the home fall into severe disrepair. The homeowner had also been a hoarder and it was a big chore for us to clear the property, to get rid of his personal possessions. And then just to remove all the trash. It took us about a week to clear the home took us about 10 dumpster halls to get all of his personal property and all the rubbish cleared. Without a doubt. This was one of the most major rehab projects we’ve ever completed.
We put a lot of love into this house to reestablish it as a cornerstone of a neighborhood sitting on a huge cul-de-sac lot. One of our primary goals was to enhance the original architecture feature to design a modern farmhouse field. The exterior has been completely modernized with new entry door, new windows, and of course, a fresh coat of new paint, all the colors and accents, we choose provide a modern farmhouse appeal. That was a big hit with the prospective buyers that view the home. We put this home on the market and the buyer interest has been incredible. We have received nothing but positive feedback on the updates we have made.
So the first priority for this rehab was to give the home a sound and safe infrastructure, both the roof and the foundation of the home had failed and it required a lot of money and a lot of repair to fix it. There were also major plumbing problems. As tree roots had actually grown inside the pipes, causing us to go into the cement and replace all of the plumbing and all of the pipes supporting
The rehab of two-story home, presents many challenges and sometimes limits what you can do and still stay within your rehab budget. A major change we made was to eliminate the 1980 wet bar in a living area, and then reclaim that space to expand the kitchen for this kitchen. What we decided to do was redesign it a little bit. We decided that we were gonna move the refrigerator used to be here and we shift it to the right. Um, we utilized the existing space that we had from the wet bar that we closed off in the living room and add a shelving and then added a door for a new pantry. We also spend a lot of time on the up face of the master suite of a full remodel of the master bath, an oversight shower on new cabinets in a large soaking tub with a view to the outside, or highlights identified by our perspective buyers.
As you can see, this was a major rehab for us. There was almost no area of this house that wasn’t remodeled and repaired. Paige and her team did a fantastic job. And the numbers tell the story. This home was only on the market for four days. During that period, we had 50 showings and over 10 offers, we’re under the contract to sell this home 15% above the asking price that we originally started with. Unlike most of the investors in the Dallas Fort worth market, we executed every phase of this deal. The let’s get paid network identified the deal. We got the home under contract. We purchased the home with our own money. We did the rehab and we marketed it and sold this home ourself without a real estate agent. We teach all phases of the flip process as part of our mentorship protege program. And you can be a part of our network and learn to rehab and make profit on residential real estate. With us, reach out to us. You can be part of our program and we’ll put you on a path to owning your own business and Hey, let’s get paid.