Full Video Transcript
We’re heading out to a new property out in Georgetown little suburb of Savannah, about 15 minutes from downtown, and it’s a new place. We just bought it on Friday. Today’s Tuesday and we’re starting demo day. Got my contractors out there. They’re already out there. So we’re hoping to to catch ’em before they get too much done. It’s just fun. I don’t know, swinging a hammer, knocking out cabinets, like that shit’s fun. Right? Who, who doesn’t like getting licensed to destroy a house? You know?
I wanted to talk a little bit about the numbers and about, you know, how I decide what a good deal is. So this particular deal, first thing you do is just a little bit of digging and the easiest thing to do, you can do it from your computer is what will this house be worth when it’s fixed up? $289K was my number. It’s gonna be worth $289k. It’s a 4 bed, 2 bath, 2400 square feet. Big house. We’re gonna make it nice. The next thing I look at is where’s the seller at right now on his number? What does he want? And I knew that he was around $140,000 on what he wanted for it. So I said, well, that’s, you know, we could make that work. $73K is the rehab budget. If we add purchase price and rehab budget together and round up a little bit, we’ll call that $220k is our, is our all-in for hard costs.
Do not forget to factor in your various soft costs. My interest closing costs – it’s gonna be around $5k or $6k and then insurance is gonna run me about $1,000, you know, power and water. And so all in our soft costs are, are gonna be around $15k. I know I can sell it for $289k. Obviously there’s a good bit of room there, right? There’s, you know, sounds like we’ll make money. So I feel pretty good about this. You know, these, these projects, they should make you a little nervous going into ’em. And, and I find that, you know, the action is what takes away the nerves. When I see my contractors out there, you know, getting it done early in the morning makes me feel good. You know, we’re seeing progress. So demo days, man, they’re fun. Check it out. We are finally done with 18 Red Fox here in Georgia. I’m so excited to be done with this. It’s taken a little bit longer than we wanted to, and it’s always a little bit stressful, but we’re under contract already. We’re selling a place – we didn’t even have to go to market. So I gonna take you through, I wanna talk about all these different design decisions and how it led up to the final product, what you see before you right now. So let’s go take a look.
I love how you’re just greeted instantly with natural light from those windows. This is very well laid out – staging, I think, looks great. And I love the fireplace wall. I think looks great. You know, white and black is in right now. So we’re always trying to stay on top of the trends, but not only is it trendy, I think it’s something that’s gonna look good still 10 years from now, because this is a very classic kind of thing. One of the things we like to do when we’re flipping a house is we wanna try to make it appeal to the most amount of people as possible. So, I love how this turned out. I think the staging here really ties this together. When I walked in after the staging and I saw what Kelly, the stager, had done with this space, it just made sense. It just clicks with me. I’m like, oh, of course we’re gonna put chairs there. That makes total sense.
Love the kitchen. Man, they say kitchens and baths sell houses. So, if you’re gonna spend money in a house by God, spend it here. In, in this kitchen, some of the design elements, we wanted this to kind of be the statement. And you, you walk in and your, your attention’s drawn to this, right? Shelves are in, stainless steel vent hoods are in, you know, subway, tile back splash to the ceiling taking that all the way to the ceiling. Did it cost a little bit more money? Yes. Okay. A lot of people will stop it. You know, maybe at the top shelf or maybe they’ll just do a little run of back splash, but we’re talking a couple hundred bucks maybe. And, and what’s the difference in quality in that wow factor? I think, I think it’s pretty huge. So I love the way this turned out.
It kind of makes a statement and it’s very functional. Look how much space there is. This is a large run, and believe me, I know because I spent a lot of money on this stone, right? But it’s large. It’s very functional, you know, for cooking large meals, we can have some, you know, stools here for a little breakfast nook if somebody wanted to do that. Very, I think this is a really great combination between functionality and just, it looks good. So the color are good. You see the colors here. Grays, whites and blacks are very neutral. So that’s why we kind of go with, with this. And then we, you know, we throw on these, handles it just kind of give it a little, a little touch of pizzazz right? Or this sink. I love farmhouse sinks. I think it looks really good. It costs a little bit more money than a standard undermount sink. But well worth the money I think. And I love this. It took me a while to figure out how to even use this dang thing because it’s coming out here, but then what do you do here? And look at that, you know, that’s just, that’s cool. You know, that’s better than the sink I have at my house. So, you know, I kind of live in a shitbox and I make all these nice places for other people.
We definitely spent a lot more money in the master bath than the hall bath, but we still want this to look good. It doesn’t make any sense to have a kitchen that looks like that and then put like a vinyl insert shower, right? That just does not flow well. This costs more than a vinyl insert. Probably spent $2,000 to $3,000 more tiling this than if we would’ve just got one of those inserts that you get at Home Depot. But again, that’s, in my mind, a money well spent kind of thing and, and we didn’t get too fancy. This tile on the floor is pretty cheap. I think it’s like maybe $2 a foot. This subway tile is not very expensive. This vanity, you know, is, is kind of like an off-the-shelf. You could probably go to Home Depot right now and buy this, but it’s the simple things.
I think the black all the black fixtures are modern and it’s, and that costs just the same as any other fixtures would’ve cost. Maybe we spent a little bit more money on this light bar than another one, but we’re talking $50. I can’t stand when flippers – I’ll go into somebody’s house, they flipped and they’ve got the same frigging, $100 ceiling fans that everybody else has. And it just, there’s no character, there’s no style and they could have spent $50 a fan more just to go the extra mile. Just doesn’t make any sense to me. So we spend a little bit more money, not much. I think it looks great. This is the master. So this is huge, great closet. I love this bath. I don’t even remember what was here. It was dingy, nasty straight out of 1975.
I love this. This is one of the biggest showers that I’ve done. You’ll notice we don’t have doors on it. So I had some people ask me, oh, why not doors? You know, whatever. A couple reasons. One, honestly I think it’s big enough that you can get away without a door. Two, they cost a lot of money. They’re kind of hard to get right now with the supply chains and all that. And three, it doesn’t really stop a buyer from buying this place. This is a strong seller’s market, as we know, right now. So just not really worth it. If this was a smaller space you know, we probably would, but you know, we’re not even, we’re not even getting water over here. Right. So I don’t think it’s really strictly necessary to have that. So I hope you enjoyed this whole video and seeing the before and after and all the decisions that we made. I hope you learned a lot from it. We’re very excited about this. And you know, we just wanted to say that we do this for ourselves. We flip houses for ourselves and we also love to help clients. If you’re an investor and you’re thinking about doing this, or even if you’re just a homeowner and you want some advice – “how do I sell my house for more?” “What easy projects can I do to get top top dollar?” Or, or maybe you don’t even wanna sell. And you’re just wanting to do a renovation for yourself. Please give us a call. We’re happy to give advice, take a free consultation.
And, and I’ll be honest with you. It’s more important to me to do a good job for my clients because that’s their money. My money, you know, it’s my money. If I lose it, the only person I disappoint is myself. And I, I don’t wanna disappoint anybody else. So we love doing this for ourselves. I genuinely enjoy the process, and seeing a house transformed and then sold on to a new homeowner or a renter, depending on the situation. I love helping other people do it. I think it’s very exciting. It’s a great way to earn a living. So thanks for joining me.