2.17.2015 – Another Flip!

This morning Andy and I started the day by going to the Ashland project. They had to repour part of the foundation because previously there was a massive fireplace at the back of the home that was literally starting to fall off the back of the house and as a result, was causing the foundation to heave. Thankfully that has now been corrected and I’m thrilled that Freddie found a good concrete guy. The Ashland project will need a lot more concrete as we develop the property further with a huge patio and hopefully a detached garage and guest house as well! At this point, I can’t decide what to do with the front porch on this house. It looks like an addition because it extends out four feet further then the rest of the house and the way that it overlaps the hip roof of the front bedroom is just bad design… But it’s not an addition – It’s just the original 1929 design, which part of me feels like should be kept because it’s a historical neighborhood and it helps to block the afternoon sun… While the other part of me thinks it’s dumb to keep something that was designed poorly when we have the capability to change it. Option 1: Leave it as-is. Option 2: Cut it back so it aligns with the rest of the house. That means removing about four feet, yet we’ll still have a 4 foot covered entry/porch. If you have an opinion or idea, let me know!

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Great news! The other buyer for the charming house (The one with the barrel-vaulted ceiling) in the Willo District cancelled and the sellers accepted our offer! It’s a cash deal with a 7 day close so everything will happen quick! I’m so excited to be doing a home in the Willo District and to have the opportunnity to bring the house back to its former glory (And then some!)… I’m already designing the house in my head and it will be so beautiful when it’s complete. The great thing is that the house already has so many things that I can work with: original hardwood floors, new windows, great moldings, nice updated lighting… It needs some slight reconfiguration but the rest is really cosmetic! Here is a link to see the house on Zillow: http://www.zillow.com/homes/506-W-Granada-Road,-Phoenix-AZ_rb/

Getting that offer accepted meant a trip to the bank to wire earnest money which was slightly challenging because the investor is currently out of the country, but I got it done and secured the deal. Having this offer accepted now brings up the question about what we should do with the other Willo house that we are already under contract on… This is the house that I haven’t been excited about because it has no charm and needs so much work (new electrical, new plumbing, new hvac, new roof, new windows, and a new floor plan too!) that I couldn’t justify it for the price that we originally offered… We are having a formal inspection done tomorrow and we are going to provide that to the seller with the request for a $40k price reduction. Obviously that isn’t going to go over well but hopefully the seller realizes that their house isn’t as valuable as they’d like it to be. They will likely reject it, and the deal will be dead which is fine by me… But if they accept it and we can get the house for $40k less – Then the deal is worth doing! To be continued…

Typically I blog the day after, but today I’m writing this now while Andy is at rehearsal and I just finished a bunch of boring computer work. I spent some time strolling through new listings on the MLS trying to find some flips at lower price points, went click crazy on houzz.com in hopes to find an answer to the porch at the Ashland project and now I’m off to the gym to work out and finish reading the Andy Cohen Diaries (Which BTW – He still hasn’t asked me to be a guest bartender on his show)… A boy can dream!

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