The Perp House Flip

Perp House

Danny Johnson / 6 comments

This is the ‘Perp’ house. Named so because of an incident we had with another house we owned in the same neighborhood. Had an issue with teenagers breaking in.

I was considering wholesaling this one, but decided to fix it up and sell it with owner financing instead. The work and materials in the scope of work below will cost $4,000. We will also need to pay for new carpet throughout most of the house. This is well below the budget of 10,000 which was estimated. So, if we have any surprises we will still be well within our budget.

House Details

This is a 4 bedroom, 2 bathroom, 1600sf house that was built in 1962.

The Numbers

Purchase Price:$35,000
Settlement Fees:$658 (closing fee, insurance)
Estimated Repairs:$10,000
Resale Price:$85,000 owner financed

Scope of Work

Exterior.
• Haul off branch from side of house.
• Replace hose bib that is dripping in front yard.
• Remove copper line from front and side that is not connected.
• Add base and dir to backyard by the door to the back of the garage.
• Power wash the vinyl siding.
• Knock out dent in garage door.
• Hookup dryer vent.
• Cover back of washer box.
• Clean out garage and shed and house and haul off.
• Haul off construction debris and trash.

Interior
• Remove carpet throughout house.
• Replace light in living room with ceiling fan (see material specs). Remove other lamp light in living room.
• Repair cracks in walls and ceiling. Tape/float/match texture.
• Clean and recaulk shower tub and toilets.
• Replace knobs on the dresser in the master bedroom. (7 knobs)
• Replace return air grill.
• Replace blinds (owner will pay for new if using new). If not, blinds will be cleaned.
• Frame out wall in master bath for 32” door. Install door and door knob. Sheetrock tap/float/texture.
• Replace hall light with new silver pendant light.
• Prime and paint all paneling and doors.
• Frame out mirror with trim in master bedroom.
• Touch up kitchen cabinets to repair stain around where people open them.
• Stain and apply high gloss to front door.
• Replace doorknob and deadbolt for front door.
• Replace bi-fold door pivot and wheels and rehang 4 sets.
• Remove and replace 1 entry knob for bedroom.
• Prep interior for professional painting (remove all nails and things attached to walls and neatly caulk and sand) Paint interior (see material specs).
• Install new AC air filter.
• Install smoke detectors and doorstops where necessary.

Materials Specification

Paint Colors

Interior:

Walls – Realist Beige SW 6078 FLAT
Trim – Extra White SW 7006 SEMIGLOSS
Ceiling – Flat White

Exterior:

N/A

Materials

Cabinet Knobs SKU 400389 $1.79/each
Drawer pulls for cabinets SKU 803786 $2.39/each.

Light Fixtures:
Ceiling fan for Living Room: SKU 412761 $80 ceiling fan

Before Pictures




































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6 awesome responses to “Perp House”

  1. Justin on

    Hey Danny – I’m constantly amazed with your contractors pricing. I suspect this is a result of what services cost down there and because you get super discounted prices from your contractors? If so, how long were you working with the contractors before they started discounting their prices?

    Thanks
    Justin