Welcome to part one of our Follow the Flip series! With the release of our new Tokenized House Flipping feature, this series will provide a behind the scenes look at our renovation methods, before and after photos, and progress towards completion.
Our new Tokenized House Flipping feature offers fractional investment opportunities in fix and flip properties directly on-chain. If you’d like to learn more about how this new feature works, be sure to check out our Feature Preview article. Unfamiliar with house flipping? Check out our Rules of House Flipping post for the basic rundown.
If you’d like to invest in the flip or check out the progress in real time, visit the offering page on the Landshare App.
About the Property
The first property we listed for our Tokenized House Flipping feature is a charming single-family home located in Rapid City, SD. This 4-bed 2-bath property offers plenty of space with a large family room, and a backyard perfect for entertaining. The central location to schools, grocery stores, and nearby parks make it the perfect home to any family or couple that wants a forever home that they can grow in to.
With a little effort, this property can be elevated from its neglected condition into a full updated, modern home. Each room will be updated from head-to-toe to make buyers feel like they are viewing a newly constructed property. Some paint, flooring, and hardware will give this property the facelift it needs to make anyone want to move in. Learn more about the property by clicking here.
When we first acquired this house, it was in a neglected condition to say the least. Most of the rooms were full of clutter, so much so that some of them were inaccessible and needed to be cleaned before the initial assessment could take place. The clean-up process alone took several weeks to complete.
Updating the Kitchen
After clearing out the entire property and having some structural work done, the kitchen was the first room we chose to tackle. To put it simply, the kitchen was in need of a complete overhaul. Plumbing, countertops, cabinets, windows, paint, electrical and flooring — if you could name it, this room needed it.
The process began with removing the existing countertops, which granted us access to the cabinets. Although the cabinets looked a little bit outdated, they were in great shape structurally. We knew a full replacement was not required — just some cosmetic updates.
To begin this process, we disassembled the cabinets to sand and refinish each component individually. While waiting for the cabinets to dry, we optimized our time by moving onto the next items on the agenda — painting the walls, preparing the replacement window, selecting new countertops, and acquiring new appliances for the kitchen to give it a fresh look.
After the walls were painted and all of the cabinets were ready to go, we reinstalled the components back into place. There was still a lot of work to be done, but the new kitchen was finally starting to come together.
With the updated cabinets now in place, we started working on installing new electrical outlets and updating the lighting fixture to help illuminate the room. The new electrical outlets gave us the ability to install new features this house was previously incapable of having, such as a garbage disposal and an over the range microwave.
All of the pieces were now in place to start cutting and mounting the fresh countertops onto the new cabinets. We also used this time to take care of some odds and ends — updating the plumbing, installing a new energy efficient window, and mounting the over the range microwave.
At this point, the transformative power of flipping houses started to become clear. The kitchen went from a dirty, cluttered, and outdated mess into something that had the beginnings of a polished, clean, and modern room.
Next up was installing new vinyl plank flooring to replace the old laminate the kitchen previously had. Vinyl planks are a great option for flips and new construction — they are durable, inexpensive, and give the room a modern look.
However, we quickly realized that installing the new flooring came with several issues. Due to the age of the house, the sub-flooring for each room was no longer level. The underlying issue was addressed by installing foundation piers, but the subfloor still needed to be re-leveled. A non-level sub-floor meant that the flooring planks would not property fit into place, thus making the installation impossible.
Thankfully, our renovation team had previous experience with using a self-leveling underlayment. This allowed us to level the floor with relative ease and avoid the need to totally replace the subflooring. With the subfloor now level throughout, we began installing the vinyl plank flooring.
The dated kitchen started with having old cabinets, stained and chipped countertops, poor lighting, few electrical outlets, a peeling laminate floor, and an energy-inefficient broken window. After our renovations, it transformed into a modern and updated kitchen with brand new countertops, refinished cabinets, new overhead light fixtures, plenty of new electrical outlets, fresh paint, updated plumbing, and new vinyl floors!
We hope you enjoyed seeing the transformation the kitchen underwent on our first Tokenized House Flip on Landshare. This kitchen renovation is just the first of many — throughout the process of the flip, similar renovations will be performed on every room in the house.
If you’d like to learn more about the details and processes that occur throughout all the rooms of the home, be sure to stay tuned for the next installment of the Follow the Flip series!
Tokenized House Flipping is a major addition to the Landshare ecosystem, providing a lucrative short-term investment option to go along with our other offerings. House flipping has massive potential, and by being the first platform to bring it to the blockchain, we are opening it up to everyone for as little as $50.
We look forward to releasing our first house flip very soon. Be sure to follow us on Twitter and join our Telegram group for the latest news and announcements on when this new feature will go live! You can also view our current Tokenized Asset offerings at https://app.landshare.io/property-details.
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