Flipping Grandview: Week 4 & 5

A new week, a new unexpected expense.  Upon further inspection, the water heater that we thought serviced the whole home did not.  The one that does is in need of repair.  Instead of waiting for it to flag on the future buyer’s inspection report, we will go ahead and replace it to ensure it’s up to code before construction is complete.  That will be an additional $1,000 bringing our unexpected total up to $1,500.

Our contractor did see some other unusual items and is going to get them repaired within the original bid which is great!  We are already over budget since we purchased all of the appliances, fixtures, lights, faucets, etc.  We know we will have some electrical work to do once the renovation is done as well so we are really trying to limit our costs.  The holding costs definitely add up quickly, too.  We are getting ready to make our first mortgage payment.

This week, we got the colors right and additional coats of paint on went on.  The progress is visible and that’s exciting.  The contractors believe they will be done around March 23 so our plan is to have the home on the market by the end of the month!

 

Published by The Hornburg Real Estate Group at KW

I began my real estate career in 2004 in Orlando, Florida. I relocated to my native Texas in 2012 with my family and started my business over from scratch! It's always a learning opportunity when you're focused on building a business through helping others and my story is just that! We have had the pleasure of growing a business and then getting into business with the very best agents in Dallas Fort Worth to help us grow & expand our mission, vision and values in the real estate market! We'd love the opportunity to show you what we are all about and how we exceed expectations!

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