5203 FLAGLER ST, HOLLYWOOD, FL 33021

The fun thing about this property was the back and forth we had every single step of the way with it, it was first put for sale at $70,000 but the property was in terrible shape, so we negotiated it down to $20,000 which was the price we bought it for, and yes, it was just as terrible as you might think! It had everything wrong with it, and it had been abandoned for about 4 years, which makes for a big mess all around in it! It was basically completely redone, but the fun doesn’t stop there, this deal was challenging even before we needed to rehab it as it had some liens and violations that needed to be taken care of before we started working, but the results are a 100% worth it as it is currently rented with section 8 and it’s a lovely family home now, bringing in some cash flow, as rent is $1,650!

Renovations

The main work done to this property is definitely the walls and ceiling! This property was a complete mess, it had mold and it was literally falling apart, but we worked around it and it was a tough job but one we were so happy with when it came to the end result! We also renovated the 2 bathrooms completely as well as the floor both inside and outside of the property were fixed completely! We also changed all the electric system, from the cables to the electric panel.

Installations

As we do with most properties, we installed the tankless water heater, the kitchen and laundry appliances, as well as all the switches, outlets and light fixtures, but beyond that with this deal we also installed new closets, a brand new A/C and brand new kitchen cabinets!

Fixes

With this particular deal we had to fix a ton of stuff, the floor, walls and roof being the top priority there, but there were other little fix that we had to do such as the repair of all the windows, painting both interior and exterior as we as we added some crown molding to all the doors which were also repaired, and after we did the floor we also did some baseboards!

Budget

As we said, this property was bought for $20,000, and it’s not going to go up for sale, but the current worth is around $180,000! We invested around $90,000 on this deal, between the rehab and the money paid to the city. This deal is currently rented on section 8 for $1,650 per month.

Time frame

The overall timeline of this deal is about 5 months from the moment we bought it to the moment we got it rented, and it continues to be rented now! It’s a great property and we worked super hard on it!

Before

After

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