The sellers made a HUGE mistake! | How to Flip Houses | Real Estate Investing


it’s actually a fairly easy project I
agree yeah I agree I think that you can if you see some of the other stuff that
we’ve worked on yeah I just don’t know I will know though how to factor that into
it because you know in my line of business too you can’t you can’t stick
it out for the long term you gotta like get in and get out I don’t want to make
sure that I get a price that makes sense how are you guys Joe Perez Flipping
Unleashed hope you guys are having a good day today so we just came back from
looking at this really cool property out in Sherman Oaks California which is
probably about I don’t know 10 15 minutes west of downtown LA it’s a
really nice area and out there I mean it’s almost impossible to find anything
for less than a million dollars you know it’s a strong neighborhood and I’m
talking about small homes three bedrooms two baths 13 to 1,500 1,600 square feet
you know million dollars and up all day all night so we just came back from this
home as you’re gonna see in the video it’s a cool home I really liked it’s got
great bones great layout as a designed by some architect as you’ll see in the
video I only have one concern though one major concern and that is is that right
next to it on one side of the house is a 7 unit complex so it’s 7 units it’s
nothing like 56 units but still and the way the windows are set up you can see
into the backyard so that’s kind of a bit of an adverse factor people like to
have like their privacy you know if you’re having a barbecue you don’t want
somebody sitting in an apartment staring at you and you know usually for that
price range and the freakin crazy crazy crazy thing about it is when I look at
the old satellite photos of the home there was freaking trees up there there
was a ton of big trees 40 50 footers that were blocking any view from the
apartment complex in other words he had all the privacy in the world you know
and the owner decided that it was too much trouble to maintain the trees and
cut them all down biggest mistake he could maybe cuz now for me to make this
deal work I’m gonna have to go and put some trees in there and I don’t know if
you guys know but when you start getting trees that are 15 17
18 feet tall they’re really really expensive very expensive you start
getting into the thousands I mean heavy thousands for each one of
them and and to cover a whole straight line of them the whole side of the house
I mean that could easily be 50 60 you know thousand dollar job if not more for
all these trees you know and if I can create some privacy
you know then I’ll have a good deal so I went ahead and wrote an offer on the
property I wrote a low offer on the property as
you can imagine I took into consideration what I think like it could
sell for even if I fixed it and even if I got rid of you know the the privacy
issues to put some nice trees and all that so anyways watch the video you guys
check it out you get to see what it’s like in my life to go out and look at
properties the kind of things I have to evaluate and then we’ll I’ll keep you
guys posted let’s you know if my offer got accepted
alright so watch the videos and hopefully you guys like it I thought I
saw there like an old picture there was trees over there there was and there was
issues so they had to a year ago take them all down
so they decided that they wanted the clean look and they took everything out
so your right these were totally covered but what I was telling Ryan is
if you stand here sorry if you’re here and you’re having dinner okay so you’ll
be sitting here but then that trellis well totally filled in yeah is that is
that the actual green of a planted or something
it’s plastic they just put it up – I’m gonna say it looks yeah it looks very so
in other words they’re regretting getting rid of the trees huh we could
easily put you know some beautiful stuff up on the trellis and that would take
away the look you could put the bug in yeah yeah something Thanks okay
come on up yeah so choice the house and then when we get out there we’ll uh yeah
this is the kitchen so it’s a galley kitchen this is the service porch with
the current restroom small first one it’s good to have the second
and then this is a service porch that leads head to the backyard so those
trees I’m looking at those don’t belong to the apartment they belong to that
homeowner are you sure those so those trees are coming from that property
interesting yeah those things are beautiful and that that’s my biggest
challenge is what can I put here I don’t have time for these because we take a
while to like feel yeah and so I had to like maybe thinking about calling couple
of designers and get some ideas yeah because one thing is what you can
hear and another thing is what you can see I see so that’s oh yeah you can see
it so that’s why they got rid of this – oh my god they had some nice trees look
at that oh yeah look at that you can see all the roots so it was covering all
this up right and it was probably on the other side as well so the other side
probably had to clear their side so this is the family room this is a William Mellenthin yeah I read that yeah
can we can go yeah cuz I was thinking that that kitchen can be expanded if you didn’t want to do a lot of change and you
wanted to you know maybe bring that like master with a bath you can make this
into the master is the back right and connect it there and connect it here
because the plumbing is already here yeah yeah so you could you know move
that way yeah yeah it’s really gonna do here because it’s such a large room yeah
it’s like a perfect rectangle these two rooms put together you’re right it would
be symmetrical and it’s just a matter of plan cuz you’re agreeing with me that
boxing weather is not cutting that one by the kitchen eat something what was
that name methalone? Mellenthin yeah okay I’ll think of a thin
melon Mellenthin is that like an Eichler recognized name where people because I
know it’s that only a few listings have that name right so that either way told
me if it’s worth mentioning you know I just don’t know am I playing with the
integrity of the in other words does it lose its seal so to speak its stamp of
architecture coming from Mellenthin does that make sense what I’m saying if I
said make it to me I mean I’m just curious in your opinion how here’s how I
think about it a lot of the homes are architects really designed
mmm-hmm some of them are I’ve seen a lot of names in the comps and those get
remodeled all the time okay so I I’m not at liberty to say yes or no right we’d
asked my designer well I’m just wondering from this neighborhood though
if you know if like like if when you’re backing off with another agent you can
you’re comparing to like homes and you’re like oh mines a Mellenthin and
that gives your home an extra like five percent you can’t in value additional
you know I think that in this case if you were to remodel it you could
advertise it as a remodeled Mellenthin home it’s yet run totally with
the same integrity like verbiage would have run right of the William Mellenthin
architectural concept right classic William Mellenthin theme whatever I see to
me you know and so that way you can still use a bit of the name everybody
wants a lot of new stuff once modern good yeah you know the millennial buyer
only wants what’s new they want to come with their suitcase yeah like it or their food and
that’s it okay and so if you made this even though they don’t want to come with
their food, they want instacart yeah that’s right so so yeah so you know
it’ll get delivered though the majority of the money for them goes to food
entertainment yeah cars and everything of ease of use mm-hmm interesting of all
reading material you have the William Mellenthin magazine which is good idea
it’s a factor all right and so then let me go take a look out in front if you
don’t mind me right good go ahead that’s where the family stuff
is right now so now you yeah but you know what though that was
very smart what you did though you cleaned it up made it look real like
airy yeah yeah they’re lucky to have you by the way well you know
presentation means everything so tell me about the parking over here a little bit
how does it work do they have their own parking or I’ve done you know quite a
few open houses and on a Sunday the streets are very quiet and there’s lots
of room for my people to park all right I was like a little glance over here if
you don’t mind I just just wanted to see what it looks like from the other side
yeah welcome to join us you don’t you don’t have to leave I’m just saying I’m
gonna that wasn’t a go away I’m just saying I was gonna walk over here yeah
yeah and I see it’s kind of elevated from over so you really can’t see much
you know if there was like a seed you could drop and you just threw it and
they popped up popped up like a 20-foot tree I take your hand right now and I
tell you okay let’s make this thing happen happen and by the way I’m still
interested I just gotta figure out a way I’m glad I came to see it that’s the
only thing it has it’s just that it’s that issue you know being aware of it
and then while you’re actually remodeling
you know that that’s the one factor that needs to be taken care of and then also
the second is maybe moving the master yeah yeah you know that that I love your
ideas and that’s always workable that once you’re there you know you can
always find some cool creative ideas what I worry about is the external
things that yet that I can’t change you know I mean in that case you can you
just have to decide what your budget is and what you’re gonna charge for the
house obvious right but you know there are ways and I’m sure that your
designers who do this all the time can come up with a solution as to right lock
that trellis out right that’s as I could I’m thinking of at the same time I’m reconciling myself to the fact we did good work by the way and
some of the gals that have worked for me work on reality TV you know and they’ve
done good stuff yeah yeah actually if you’d like if you want to give a shout
out here’s your chance but there you go Shelley Cohen, Rodeo Realty so here’s the thing we’re gonna do great
work we have no doubt I just worry about like what I had in command for it
afterwards right you know anything I think to know anything else you from
letter I just think that if you were to purchase this in deal with those two
things concerns that this house once you remodel it and put it back up on the
market will go at a really good price you know it just needs to be redone it
needs some fresh appliances the kitchen yeah yeah it’s actually a fairly easy
project I agree yeah I agree I think that you can if you see some of the
other stuff that we’ve worked on yeah I just don’t know I will know though how
to factor that into it because you know in my line of business too you can’t you
can’t stick it out for the long term you gotta like get in get out I don’t want
to make sure that I get a price that makes sense because the home’s got great
bones and everything else and it’s a great freakin neighborhood to sell it
for you know there’s a lot of properties in the area that are on sale that are
resold that were purchased in this type of age category yeah and we’re nowhere
near the condition of this property we’re a lot less you know turned around
and are selling four one five one six right but I get it trust me I’m here so
listen thank you very very much Shelley

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