Philadelphia House Flip #5 - Poplar

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  • Published on Tuesday, 26 April 2011 21:54
  • Written by Super User
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This is the first house I ever ripped apart and really put back together.  We bought this in spring 2004.  My wife and I owned the duplex next door at 165 Poplar and always wanted to have 163 as well.

I noticed one day that some guys were in the house, cleaning it out.  So I popped in and got the owners name and number.  Not long after that we put in a cash offer at 130k with a 5 day closing and locked it up.

 

This place was a mess!  I was in over my head but I knew that I would be able to pull it off with Brennan’s help.  I took this house down to the four walls and basically started over.  This was my first introduction to designing a home.

My right hand man Jacinto and I worked on this house for 4 months straight.  We did all the carpentry in the house and brought in subs for the electrical, HVAC and plumbing.  We put a total of 100k into construction.  We then turned around and re-financed the home to a 30 yr. mortgage and rented it out.  This was a rental property until 2010.  We sold this property for 325k to a 33 year old who owns a HVAC company.  He is now a friend of mine and works on projects that we are currently doing!

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