On November 22nd of 2016, I officially became a property investor and house flipper. We closed on a 1,600 sq ft, 4 bed 2 bath ranch in Wiggins, CO. This house was originally built in 1929 as a 2 bed 1 bath, but had a remodel in 1979 to expand the living room, adding 3 bedrooms and 1 bath.
We got this house from a wholesaler who had purchased it and cleaned out all the previous owner’s personal belongings. From talking to neighbors, the previous owners were hoarders and were rarely home. The plumbing had not been active in the home for quite some time and the mess that they had created was unbelievable!
The first thing that had to be addressed was the roof. There was a sizable hole over the original back bedroom. Until that was fixed, we couldn’t begin to remediate mold and dry out the back side of the house. Our roofing partners, 970 Services out of Fort Collins, did a fantastic job installing a new roof with impact and wind resistant shingles. We have used 970 Services on other projects (including our own home) and have continually been impressed with their work. The Wiggins house was no exception.
With the roof taken care of, demo could proceed. Steve Campbell and the crew from Arrowhead Renovations in Wellington did a masterful job. They had the old side of the house stripped down to the studs and the flooring ripped up in just over a week. With this being my first solo flip I was under-prepared for the amount of debris demo results in. I had planned on fitting everything into 2 40-yard dumpsters, but that wasn’t even close to enough space! It was my first surprise, but would be far from my last...
After demo we moved on to the fun stuff. We installed new floor joists in the back rooms that had been damaged by water, as well as new sub-flooring. We brought in Dependable Plumbing of Wiggins to help replace the plumbing. At this time, we also redid all of the electrical. Zeus Electric of Loveland is a fantastic electrician! He worked around us to ensure we could continue our work and remain on schedule for our planned March 1st deadline. We then had Air Products of Fort Collins install a new HVAC system throughout the home and install a WiFi connected thermostat. For a small investment of $200, it is a cool feature to add.
We then moved on to drywall, texture, and paint. This is when the house really took shape. It was nice to see covered walls again and we could see the finish line. We had some beautiful weather for January so we went ahead and painted the exterior of the house. In three 70-degree days, we were able to get the house and trim all painted.
We started tiling the bathrooms in early February and appeared to be on track for my March 1 deadline. As the tilers worked, we installed the kitchen cabinets, installed the appliances and ordered the granite. Carpet was measured and scheduled to be installed. The cherry on top was when we were able to lay the granite countertops. We completed the tile backsplash and high fives were flying... we had finished our first flip.
We listed the house on March 30th and within 36 hours we were under contract. We closed on May 2nd, 2017 and were happy to see the house go to a young married couple with 2 little ones. They were so happy with the house and are ready to start their lives in their first family home!
Seeing them so happy made me proud of myself. I had taken a huge risk making this career change in October of last year... and it was finally paying off. We made money, and that was the goal, but to see how excited they were was the real payoff. I know how cheesy that sounds, but it is true. I will remember that closing forever.
ON TO THE NEXT!!!
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