LIVING ROOM AFTER
“The original owners installed a huge bookcase in the living room that had a doorway leading through it to the den. Corinne took out the unit, closed off the opening, and cut another doorway through the wall further down,” John said. “She then put up another wall to make a hallway with doors to the laundry room and added a newmaster bedroom. The addition of that bedroommeant we were able to sell for a much higher price than I originally predicted.”
The home’s existing bedrooms were painted in dark colors and had outdated flooring. Fresh carpet and paint (and clutter removal) appear to enlarge the rooms. “It just goes to show you can’t be too worried about how messy the house looks when you’re in it. Just focus on the vision of what it will be when you are finished,” John said.
LIVING ROOM BEFORE
BATHROOM BEFORE
BATHROOM AFTER
OFFICE AREA BEFORE
KITCHEN BEFORE
KITCHEN AFTER Despite the dramatic changes to the home’s appearance and the addition of an entirely new master bedroom, John described this project as “a simple paint and flooring flip.” On the opposite page, you can see the dramatic changes achieved in the bathroom with new vinyl, fixtures, and paint. Above, the kitchen demonstrates just how much the same can do. “The kitchen was in great shape, so we basically just cleaned everything up,” John said.
BEDROOM AFTER
and we had to replace part of the roof on the sun porch,” Tesh recalled. However, the big “surprise” was the payoff for adding the new master bedroom. “We sold at a much higher price than my original estimate thanks to adding that extra bedroom,” Tesh said. “We listed at $134,900 and sold in two days with multiple offers above asking.” Note: The bedroom payoff was not a surprise in the traditional sense because the Teshes ran the numbers on the addition before deciding to go forward with it. The surprise was simply that the option was so simple, relatively affordable, and quick to imple- ment in under two months. •
BEDROOM BEFORE
this project were a lot more positive than the two investors originally predicted. “The house had been passed down to the sons of the original owners, who had done very little maintenance on the home although they were living there. They were highly motivated sellers, and their mother
actually gave us a call when they received one of our yellow letters,” John recalled. When he went out to do his initial evaluation, he spent about an hour with the mother and signed a contract with her on the spot. “My comps in that neighborhood showed an ARV of $124,000, and we
bought it for $68,230,” he said. The renovation took about seven weeks and included the removal of a large custom bookcase, installation of new walls and doorways, and a new master bedroom. “Because of Hurricane Irma, there were two trees blown over in the backyard
John and Corinne Tesh are residential real estate investors based in Orlando, Florida, where they own CityGate Homes LLC. Reach John at john.tesh@homevestors.com.
14 | think realty magazine :: april 2018
thinkrealty . com | 15
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