Buying a House with $18,000 _ Before & After Renovation

Thank you to the Home Depot for sponsoring this episode. Their in-store pickup, product selection and paint calculator were vital to this project. More on that later in the episode. What is up, Flipsters? We've got another amazing full before and after transformation house flip video for you guys. This one is super special. It's near and dear to our heart because it's for our editor and videographer, Joey. He has worked super hard to get out of $30,000 in debt. We made a whole video about it. Go check that out if you haven't seen it. We totally surprised Joey with this house. He had no idea that this project was for him. And wait till the end because we have even more surprises for Joey up our sleeve. Let's get into it. Hey, Flipsters, I'm Lauren. And I'm Lincoln. And we are happily married. But not to each other. We're old friends from college and we're flipping houses in the Austin, Texas area. And we're taking you along for the ride. All right, here she is. It's a petite little house. I don't know if I've ever seen a two story, thousand square foot house before. It seems unnecessary. Yeah. Tell me about this one. So this is, believe it or not, a three bed, two bath, 1,085 square feet. Those 85 are important. Make a difference, round up. Built in 1987. The color palette is playful. Right? Yeah, it reminds me kind of like of a fast food playground, you know? Or like the Crayola box. Yes, that's what it makes me think of. Yeah, and we've got a lot of masonry going on here. We've got brick and stone. This is kind of like McDonald's. It's like, why commit to one thing? Just get a lot of stuff. You could have it all. There's a few things going on with the exterior. I mean, the paint choice, yeah. But I don't know if you guys can see on camera, you've got some warping in the siding, in this hardy siding. I can tell from the roof that the flashing was installed incorrectly. And then way up there, you've got the tree that's brushing against the shingles on that top roof. That's not good. So sometimes on these older houses, moisture can sometimes get behind that siding if it's not flashed correctly to kick out the water. That can cause all sorts of problems, like bending and warping. We've got a lot of work already and we haven't even made it inside yet. We'll see how bad the inside is. Okay, guys, we're about to film the first tour. Good, Joey is in there setting up the camera. Hello. Welcome. It's not bad. Right out of the gate, it's what we always ask for. It's open. It's open concept, living, dining, kitchen. I think we could do a few things to make it feel bigger. This fireplace is super tall. You think it's too tall? It's abnormally tall. You gotta leave room for Santa. Yeah, tall Santa. Floors aren't bad. It's like a vinyl product. If we wanted to replace it, it's not a ton of square footage, so it wouldn't be a huge budget item. One thing we're going to have to address is these popcorn ceilings, though. Yeah, get your popcorn ready. And look at this. You could open a zipline park in here. Look at this track lighting. What is that? Let's move on to the dining area. I think this is easy. Scrape the ceilings, put in a new light fixture. Kitchen layout, I say keep it, right? Well, there's not much you could change about it, even if you wanted to. You don't really have room for an island, maybe a small little waterfall coming off, but the cabinets, they're not in that bad of shape. They're just kind of... Yeah, I mean, they're not the best ever. Holy. Look at this, it's an extensive collection here. Someone was a connoisseur. This comes with the house. You got the old straight corncob style. You've got the Sherlock. This one has its own little serving tray here. Ooh, you've got the big handed gentleman. Oh my God, look, a pipe case. Oh, it's a dragon claw, look at that. Ooh, this one's kind of like a little devil Viking horn thing on it. The Viking classic. My ancestors came to America on the Viking classic. River cruise? Them on a Viking river cruise, they got swept out to sea and wound it up in Galveston, Texas. They came and they settled in Texas as house flippers. And that was just a passed down legacy for 10 generations of Viking house flippers. Don't you wish that they would have had YouTube? Yeah. Anything else? Is this a popcorn machine? That's what I want to know. I don't know. It's an elephant cooker, I think. Elephants are like endangered, Lauren. That's not cool to cook them in a crock pot. Let's talk about the backyard on this bad boy, yeah? Let's do it. We got this little old timey screen door. This just does not match the rest of the vibe of the house. Not vibin'. Nice size yard. For a thousand square foot house. Nice size yard, exactly. I'll give you that. Okay. We've got a garden. Let's see, they got cucumbers going. Okay, so it looks like siding's jacked out here. This is the biggest problem I'm seeing almost with this whole house, is the siding is jacked up. It's bowing here. You can tell it's like flaking and ripping off. And I'm pretty sure they've already put a trim board below it to kind of cover up some water damage. Yeah, it's kind of warping right there. This is all gonna have to get torn off and redone. Okay, well, if we're tearing it all out anyway, what if we swap this out for a slider? Maybe do like a wood deck patio. So then you'd have like indoor outdoor and make it feel like more spacious. Well, normally I would say, I hate that idea. Because it wasn't yours. Because it wasn't mine. Right. No, and mostly because it would cost money that we otherwise wouldn't spend. But you're right, because we have to rip this anyway, that's easy to just reframe a bit. Right. Boom. Nice, Lauren. Trading out that window for the new slider, I think made a ton of sense. It just makes it more functional. It lets it a lot more light and then provides nice, easy access to that new patio. Also, this is like weirdly the tallest chimney for a one story part of the house. Well, it's the tallest fireplace. Yeah, I guess so. It's just, that's why the fireplace is so tall. It's just proportionate to the chimney. Exactly. They're both enormous. Comes with a grill. Oh, boom. A baby grill. That's a baby Q. All right, let's see upstairs. Yes. What if we paint this banister like we did at the DIY house? Yeah, something that's looking kind of crusty. Pretty shabby. How are you feeling about the carpet on the stairs? Well, it's trashy, but you know, it's kind of smelly. It does smell kind of like a dog. Dog, like a wet dog. Bedroom number one. It's a wee little space. I'm envisioning this as like a nursery or something for like, you know, maybe a first time home buyer. This is like their work from home office. Let's go check out the other bedroom. This one's slightly larger, much pinker. Fan's gotta go. It's a little janky. Yeah, and it's not really installed the best and it's so tiny. The bathroom is as small as the rest of the house. I've been waiting for my turn to even see it. To me, it's the flooring is so cheap. You can see it's like cracking. Some vinyl sticker product. It's just taped straight down to the OSB underneath it. Yeah, I'm gonna say. Special brand of cheap. You're not even that cheap. Right? I actually think with a new countertop, the vanity, it's not as workable. It's fine, yeah. I think this kind of makes it feel claustrophobic, but also really important for storage. What is that? Somebody left their sleeping bag. Oh, their sleeping bag? Listen, I bet they were just really into smoking pipes, watching Cinderella. A bachelor clearly lived here. Here we are in the primary bedroom. This space is like the biggest space in the whole house. It's huge, it's half the house. It's enormous. Yeah, I think we could get a little bit creative in here, mostly with paint. Yeah, I agree. Have an accent wall of some kind, scrape the ceilings, new carpet, new light fixture. It's a nice window. This would be great for like a teenager kind of sneaking out in a night situation. You got your roof line right there. Yeah. You just have to sneak past your parents first. There's such sticks in the mud, man, it's so lame. Don't ever let me do anything fun like smoke my pipe. Let's check out the primary bathroom. We got our same cheapo vinyl floors, so we'll need to replace those. Yeah. But I think paint, cabinetry, new countertops, new sink, some more modern mirrors and lights. Yeah. Got a short shower head over here. Okay, so they didn't opt for the shower head extender in this shower. Instead, they went for the microphone hide. Joey, hop in there. Let's see. Okay, Joey. So let's do a little demonstration here. You know, this is perfect. For some people, it's perfect though. This would be perfect for you. This is the perfect fit. Like no water pressure issues. It'd be kind of like ideal. Right. It's a you problem. This is a you problem. I'm, to be honest, jazzed about this one. So let's go talk about the numbers downstairs, shall we? Yeah. Okay, so we're about to wrap up the first tour and Joey is inside filming the B-roll and I'm a little bit nervous about him saying yes because he just got pre-approved, but he has like four or five months left on his lease. It's gonna take a couple months to renovate this. I'm real nervous that he's gonna say no, but we're about to tell him. Okay. Well, I think it's a quick project. That makes sense to me, right? Yeah, I think, honestly, I think Joey is gonna love this house. I think it's the perfect house for him. What? Yeah. Well, you said you liked this house, Joey. I do like it. Do you like it, like it? Joey? I do like it. Would you wanna move in? Are you guys freaking kidding? No. Great house, great neighborhood. We went shopping for this house for you. It's in South Austin. It's at your price point. Close to the office. You just got pre-approved. Will you let us renovate it? Totally, absolutely. We're gonna renovate this house and it's yours, Joey, if you want it. I totally want it, absolutely. I love the location. I've been looking in this area. Everything is ridiculously overpriced. It's very much a crazy situation trying to buy a house in the area. I absolutely want this house. I love it, this is perfect. Joey likes the house! Hey, Flipsters. Today we're working on the design plan for Joey's house and I am super excited to actually be designing for somebody I know. We wanna give Joey as much equity as possible in this project, so we are going to do fun elements that don't cost a lot, which I think everybody can appreciate, right? So one of the best ways to do that is to utilize paint. We found this bathroom inspiration picture. We think it's super fun, kind of a paint element on the back wall. We've got the painted vanities in a super fun color. Let me show you this one picture that I think is super cool. We have never done this before, so fingers crossed we can pull it off. So if you see in this picture, super cool. They've actually used paint to define the space above the dining room table and kind of comes up over the ceiling. I have never seen this done. I think it looks awesome. Joey has declined to pink, unfortunately. I was all about the pink. He wasn't feeling that, so I think we will actually try and go more like a gray color. So I think we're gonna pick a carpet with some kind of pattern or texture to it. Just a little upgrade, just because we love Joey. And he would know if we cheaped out on him. So I'm gonna head over to Home Depot. They are the sponsor of this video and they have a great selection of paints. And I'm gonna pick like a color palette that I think will be awesome for a bachelor pad in Austin. Welcome back to Grillmasters at Home Depot. As you know, Home Depot is the sponsor of this video and we've got some errands to run here. And luckily we can do it all here. So we got a busy day. We're gonna double check that the paint colors we've selected are gonna work for the project. We've got shop for a stove for Joey and I did an online order that I wanna pick up at guest services. You do that. I'm gonna stay here and check out grills. I'm always the one working. I know. Ooh, I like this one. So I wanna show you their online paint calculator that we use to know exactly how much paint we're gonna need. So check this thing out. So this thing's pretty cool. It lets you calculate the amount of material that you need for your project. Basically they help you with your project planning and you can estimate the amount of paint that you actually need as well as the cost. So it just helps save a lot of time. And then boom, swing by the Home Depot and you can pick it up, which is what we're doing today. So as you know, paint is a huge part of this project. So I really wanna make sure we've gotten these color selections right. So here's what we found. We're gonna go with a super bright white for the ceilings, Whisper White. And then the walls is gonna be a little more creamier, melting icicles. And then for that accent area above the dining room, I was thinking we could do this gray mist. What do y'all think? You think that's a good contrast? It's kind of like a grayish, beige gray mix. Next up, we gotta go pick up some appliances. For some of this, not gonna bust the budget, but I think it should be, you know, nice. Kind of like this one. This is a, what a GE? GE 628. That's a good brand. This is right. Stainless steel. Boom, I think this works. Winner, winner, chicken dinner. We can go ahead and order it online, have it delivered to the house. And then I do have that light bulb order. Let's go pick that up. Hi, I had an online order to pick up. Okay, thank you. That was so easy. Thank you for all your help. All right, bye. Thank you. On site here at Joey's, picked up this paint from Home Depot. We got our trim on site. We've got a hardy board, our front door, our paint. We're using some leftover materials. We got it all. And you know what we did this time that we have not done before? What? We labeled our paint where it goes. No more confusion. Wow, amazing. Oh my gosh. Why have we not been labeling our paint cans before? So obvious. It doesn't seem that hard, but you would be amazed how often our crews were getting the paint swapped. You gotta just put labels on everything. Demo had started here at Joey's house and we're making room for that new sliding door right now. We've scraped the popcorn ceilings in here, which is like nine day better. We've already got a coat of paint on the ceilings and soon the walls. Yeah, we're testing samples right now. One of the things we've started doing that's very helpful is just hanging up actual pictures of how we're gonna do the paint scheme in here. So obviously we're doing black doors with white walls. Helps minimize the confusion on site. We've got some sad news. Our stairs were just diagnosed with a case of chicken pox. It does kind of look like that, doesn't it? Yeah. I'm gonna miss the pet odor that was radiating from these stairs. You can breathe again. So we're doing this grayish color below the railing. The railing itself black and then white above, but we're gonna actually continue that grayish all the way around this little landing area. All right, sounds weird. I think it's gonna be awesome and we're painting the doors black, so that'll be another little pop-up style. We got a little something fun coming for this wall when you're walking down the stairs. I don't wanna give away the secret yet, but I'm really excited about this. It's gonna be like a little Easter egg hidden in the house. So carpet's been taken up in the primary bedroom. Now, we originally wanted to go with a cool dark ceiling in here, but Joey, it's made that. What's up, Joey? You don't want a black ceiling in here? No, I wanted to go light it, but the dark ceiling would be a little dungeon-y. We kind of painted like a test up here, sprayed over it now, but you could tell we put black up there and Joey just wasn't feeling it. Actually, here's what happened. Joey was feeling it and then he put it on Instagram and he let you guys sway his decision. He put it up on at Joey the News and you guys were like, oh, I don't know about that. And then all of a sudden Joey wasn't sure either. So I don't know, Joey, are you your own person or not? Are you listening to the haters, Joey? They influenced me. They were influencing me big time. But we did convince Joey to let us paint at least one ceiling black. We've got to test a sneak peek. It's like the smallest ceiling in the house, but we did paint the ceiling of this hall bath black. It's gonna look fire. We've got the inspiration pick up here on the wall, black ceiling, black floors with white in the middle. It's gonna be fire, Joey, and you're gonna eat your words and you're gonna be sad that you ever listened to the haters. So the thing that I love about this project is we're not having to redo the foundation, the plumbing, the electric, mostly cosmetic. Honestly, this is the exact kind of house that we would recommend you start your flipping journey on. We've designed an entire course for beginner flippers. Our flipping course takes you all the way from how to source your deals, how to provide financing for them, even if you've got little to no capital, how to assemble your team, and then how to project manage your flip successfully. If you guys want to find out more information about how to join our flipping academy, check out the link in the description. Okay, boom, what do you think? I love it. I love this slider. I love the deck. We've like doubled the size of this thing. Joey's gonna have plenty of room to party. Lots of room for entertaining. I want to go take a sneak peek at the kitchen. Let's do it. So vinyl floor is getting ripped up currently. It's pretty sticky right here. We're gonna lay down engineered hardwood product and I think it's gonna be much nicer. Check out these cabinets, y'all. These look awesome, if I do say so myself. It is like very dark, very bold. We're gonna do some like little gold pulls, some white countertops. Very cool. And we're doing the countertop up for the backsplash as well. So I mean, this is gonna look sick. Progress is happening super fast. This thing's gonna be done before we know. We're flying. All right, next thing we gotta get some countertops in the backsplash, finish putting this flooring down and get those appliances delivered. And we gotta paint the exterior. And I know some of you guys love watching paint dry, but this is YouTube. We gotta move it along. So check out the montage. Home Depot came through. We got the appliances in. I think they look awesome. I think Joey's gonna love the stainless steel. All right, it is the last day on site here at Joey's Carpeted Inn. Now all we've gotta do is clean and stage. Unfortunately, Joey, you gotta get out of here, man. Joey's not allowed to see this property until it is all staged for the big reveal. So we got work to do. See you, Joey. All right, Joey, are you ready? I am so pumped. Is it finally time for the big reveal? It's time for the big reveal. You wanna do it? Can I do the countdown? It's all you, buddy. Oh, let's do it. In three, two, one. What do you think? Oh my God, look at this thing. Oh my gosh, it's awesome. I absolutely love the color scheme that we picked on this. I mean, this thing, this place is banging, not gonna lie. What do you think, Joey? This is a pretty big upgrade, guys. I'm loving the color changes. It looks awesome. Let's talk about the exterior. Mostly, a coat of paint went so far. Do you remember how they had kind of like a red brick and then who could forget the teal siding? So we were trying to leave the 1980s, come into 2021. We went with some nice, cool gray, black. I was skeptical about painting these brick around the trim. I think it's awesome. High contrast, baby. That's what this is all about. Look, you got this little peak of gray popping out on the chimney, kind of to match the front facade. Yeah, as y'all will remember, that chimney is enormous. So you know what? You gotta accentuate it. If you can't hide it, you gotta accentuate it. Let's go check out the inside. Wow! Wow, look at this thing, huh? Joey, this place is awesome! Is it not the coolest? It's, it's, how am I supposed to film this and give you my reaction? Because I'm blown away and I have a job to do. I'm overwhelmed in a big way. So I know we're gonna hear in the comments, why did you stage it if it's for Joey? Well, we wanna give you guys an idea of the ways that you could highlight the spaces that we think are super cool. If you'll remember, we had this fireplace before. We really just dressed it up with paint, the bare paint from Home Depot in Dark Secrets. Ooh, cryptic. It makes such a huge difference getting rid of the red brick, which I just, I don't know why you're matching red brick with this white stone. The black looks so much cleaner and crisper. I think it's awesome. We got this modern looking fan and just whitening up the whole place makes huge difference. Yeah, it's not a huge living room, but it feels a lot bigger than it did before. We lightened up the floors and we went with these engineered oak wood floors. It's not a whole lot of square footage. So even though this is an upgraded material, it didn't cost a ton because, you know, there's not a lot of it. Moving on, this is like, we're already going to the highlight of the whole house. I mean. Let's check out the dining and kitchen area. So because this is all just one big space, we really needed to find a way to highlight that this is the dining space. And to your credit. Yeah, go on. You pitched this idea. And everyone was skeptical about this idea. I think it's your best idea yet. Hell yeah. You can clearly say this is the dining room without having to put walls around it. Exactly. And as far as design elements go, pretty cheap. It's very cheap and very bold. But hard to execute. Absolutely. The key on this is nailing these paint lines. So you basically got to get these things sharp and crisp or else the whole thing just falls apart. The thing we gave you a really hard time on was you fought for this light fixture. I did fight for this light fixture. We thought it was a little too alien UFO, but your argument was that you needed a shorter fixture that was going to make the room feel taller. If you had something right here, it would have just disturbed the whole space, so. I'm freaking killing it. But the main thing is, does the homeowner like this light fixture? Well, I'm loving UFOs. I love this light fixture. You do? All right, so let's move on to the kitchen. Now, this is an area where we put a little bit of money in very strategic places and it makes this whole kitchen look fire emoji. We saved money by keeping the cabinets. They were in great shape. It just dated, yeah? Yeah. The gold brass hardware really brings them into the 21st century. And then where we spent all the money in this kitchen is on the countertops. Ran them up the wall as a backsplash and we went chasing some waterfalls over here. I mean, don't go chasing waterfalls unless it is in a countertop. That is a baller move, Joey. Baller. Joey's gonna be whipping up his famous chicken cutlets right here. Got the GE range delivered from Home Depot. Shout out to those guys. It looks great in this space. I'm sorry, Joey. We didn't totally customize the staging for you. We really, we probably should have added an E. Who's Joey? Joey doesn't know it, but we have a big surprise for him in this kitchen. Something very special. We kept the pipes. But we also picked out, I don't know if you noticed over here, Joey. We've got a custom pipe art piece for you. Stays with the house. So you always remember us. Yeah, you'll always remember your special pipe. We're gonna save the outside for last because Joey insisted on it, so that's like the grand finale for Joey. Let's get upstairs because we do have a few surprises for Joey up there. Okay, let's start with the carpet. It's kind of like a vertical pattern, so it stretches. It makes the hallway coming up here feel bigger, as does the paint scheme that we ran up the stairs and into this little landing. What do you think? Yeah, once again, using paint to have like a huge design feature, very affordably. Guys, what is with this wallpaper? You love it? Oh my God, what a surprise. It's like a little surprise. You don't even see it until you're walking downstairs. Isn't that cool? All right, upstairs off the landing, you've got these two spare bedrooms. This looks so good, but I'm super proud of this hall back. Let's check that out. So waste not, want not. Part of the way we had some cost savings at Joey's is we reused these tiles. Some of y'all will remember it from the dance hall. This is like a super high contrast black and white bathroom, which is the theme of the whole house. Also, another thing I picked out that people fought me on are these cute little handles. It's a toothbrush and a toothpaste tube. It's super cute. You fought me on it. I gave you props downstairs. I'm not, I cannot, I still am against it. You don't endorse this. Joey, what do you think? I'm gonna now remember to brush my teeth. Yeah. Okay, you know what was a good decision is my wash and subscribe. Another- Isn't that the cutest thing ever? Wash and subscribe. I thought that was clever. This is super cute. I love it. Thank you. And by the way, if you guys are not subscribed, clean yourself up and then smash subscribe. What are you doing? Okay, let's go see the piece de resistance of the inside. Joey's room. How big is this room, Joey? Guys, this is fantastic. You got yourself a little palace over here. Look at this. There's another little surprise for Joey. So Joey, this was a little piece that I picked up for you in Round Top. I saw it and I just was like, Joey has to have this. I thought it was so cool. Vintage camera just to, you know, remind you we're always with you. I'm always being watched. Even in your dreams. And finally- This is really the piece de resistance. Let's go see Joey's bathroom. So I love this space. I think it turned out great. I have been wanting to do green cabinetry for the longest time. I thought this was the coolest project. Not to even mention these leather handles. We took a risk on the paint again with these funky little lines. Yeah, so these are all hand-painted, people. This is not a wallpaper. Once again, we did this quartz countertop which really, on top of the existing cabinetry that's been painted, just upgrades it a ton. Okay, we saved the best for the last on this tour. The backyard is a selling feature of this house and we have a big surprise for you down there, Joey. Are you ready? Yes, absolutely. Let's do it. So as you'll remember, this used to be a window. We decided, let's open it up. Let's put it in a slider because we added this patio. He's insisted on indoor-outdoor living because he's learned a thing or two from us over the last couple of years. Heading out to Joey's new deck. As you'll remember, it was much smaller and kind of in disrepair before. We added this deck, painted it, added this beautiful staging out here. It looks awesome. We stained the patio gray. Kind of matches the house. I think it looks fabulous. And I love all of the furniture out here. Joey, what do you think about the furniture? I think the furniture is awesome. I'm just trying to guess what the surprise is though. The surprise is that all of the furniture on this back patio, your sister bought for you as a surprise housewarming gift. How do you guys even know my sister? We know people. Your sister reached out. She DM'd us and she said she wanted to pay for a housewarming surprise and she knew you like the outdoor patio so much that she helped us pick out all this furniture and it's her surprise housewarming gift for you. Justine, thank you very much. This is very overwhelming. Thank you very much. That wraps it up for the surprises outside. We need to go inside and we need to talk about the numbers. So stick around for that. But we also have one more big surprise for Joey and it's inside. So let's go check it. Okay, so we had actually just wrapped up the final tour. So Joey had stopped filming. We actually had a surprise for him. We invited the entire company over to his house for a surprise housewarming party and we got him a little something extra, this TV and sound bar. He was totally surprised. Congratulations, Joey. Okay, enough of the party time. Let's talk about the final numbers and talk about Joey's investment in this property. So Joey's all-in investment in this property was $355,000. Now that includes a total renovation cost of $61,000. However, Joey used a low money down loan to secure the property, meaning he only had to put down 5% or $18,000 to close on the house. Recent comparable sales in the neighborhood have already sold for between 361 to $390 per square foot, meaning the fair market value of Joey's house today is anywhere between $395,000 to $425,000. That means if Joey was to sell the house right now, he would have instant equity or instant profit of between $40,000 and $70,000. As always, make sure you guys follow us on Instagram at Austin Flipsters to stay up to date with all our projects. Joey here. I just wanted to thank Lincoln and Lauren. The house came out amazing. Also, thanks to the Home Depot for sponsoring this video. All right, everyone out. I need to move in. Last question. What's the first thing you're gonna do when you close on that house? So the very first thing I'm gonna do when I close on that house is I'm gonna build that studio, people. I'm gonna build it. It's either gonna be in one of the bedrooms and maybe in the garage, but you bet your bottom dollar I'm building that studio. Joey in the News is coming out with content coming soon. Do you think now that you're a homeowner, you're gonna be able to have some guests or lady friends over to the new house? Now that I have a house, people have to come by, right, guys? I mean, I have people. You guys are gonna visit, right? No? That's probably. That's good. All right. Thanks to the Home Depot for sponsoring this video.