Tuesday, June 4, 2013

Gatewood Before

Front
The San Francisco Bay Area real estate market is sure heating up with low inventory and lots of cash buyers. Many homes are receiving multiple offers over asking price. The prospect of purchasing a bank REO at 70% of list price is a thing of the past.

I recently put an offer on a Bank REO in Castro Valley. I made a full price offer of $350k. But after speaking with the listing agent, they had received 15 other offers. The lowest being $200k, and the highest $650k ALL CASH. Needless to say, I didn't get the contract.

This madness drove me to Oklahoma City for my first rehab flip. It was also my first VIRTUAL rehab flip. I purchased it sight unseen through an agent recommended to me by a local hard money lender. This mid century rancher needed some "love" and finishing touches. Should be an "easy" fix/flip project. Purchased it for $94,100.
Side
Living Room
Living Room with Faux Fireplace
Kitchen
Kitchen with lovely "stamped" foil tile backsplash
Kitchen
Kitchen and random "hutch"
Laundry / Mud Room

Bedroom
Bathroom
Master Bedroom / "Pool" Room
Master Bedroom / "Pool" Room
Bathroom
Upstairs "Bonus" Room
Upstairs "Bonus" Room