Follow the Flip — Part 2
Welcome to the part two of our Follow the Flip series! With the release of our new Tokenized House Flipping feature, this series provides 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.
A House Taking Shape
With the kitchen remodel now nearing completion, the house is starting to take shape from its old run-down image to an updated and modern house. If you’d like to read more about the details regarding the kitchen remodel you can read part one here. In this installation, we will walk you through the renovations completed in the living room and the upstairs bedrooms.
The living room in this house had some issues that needed to be addressed before it truly felt like a living room. The first impression this room gave was old carpet, exposed sub-flooring, and linoleum tiles. Accordingly, we cleared the space and began cutting the carpet out to make way for new flooring to be installed.
After removing the carpet and stripping the room, we addressed several issues minor issues. Among the projects were installing new electrical outlets, installing a new thermostat, and installing a new overhead light fixture. Although the home had a large window allowing for plenty natural light during the daytime, it had lighting issues as you headed into the evening with the setting sun.
After finishing all the electrical work for the living room, we moved on and began to patch all the holes in the walls prior to giving it a fresh coat of paint. Finally, we installed the new flooring that came out from the kitchen and spread out through the halls of the house to give to create a cohesive design throughout.
Prior, it showcased three different flooring, dented walls, inconsistent paint, and an inoperable thermostat. With the living room and kitchen now revamped, it truly began to feel like a home as you walked upstairs.
Similar to every other room so far, the upstairs bedrooms needed a head-to-toe renovation. While there were no structural issues in the bedrooms, they were visually outdated and in major need of an update. The decades-old shag carpet, fogged up windows, and outdated wall color all needed to be replaced.
Stripping the room and clearing the workspace were the first steps that we took in order to tackle these two bedrooms. Once all the clutter was cleared away, it allowed us to begin cutting out the old and stained carpet in preparation to install fresh carpet in each of these rooms. In the picture below, you can see some moisture damage that had accumulated under the old carpet.
After removing the carpet, we choose to focus on painting the walls and installing brand new energy efficient windows in each bedroom. We saved the new carpet installation for last to ensure that it was not damaged or stained while other work was being done.
When assessing the windows, we found that the previous sizes were no longer “standard” for modern day houses. In order to install windows that fit the existing frames, we would be required to put in a custom order which would take several months and drive up costs considerably.
Instead, we cut new window frames that accommodate modern window standards. By re-framing the existing space, we saved thousands of dollars compared to ordering custom-sizes.
With the windows in place and the walls painted, it was time to install that new carpet. We went for a color that would fit the neutral-gray scheme present throughout the rest of the renovation.
Lastly, it was now time to install the trim around the windows and install some door frames for each of these rooms to round everything out. The new energy efficient windows not only look great, but will also be attractive to potential buyers as they save considerably on heating and cooling bills. Finally, we installed brand-new doors to round everything out.
We hope you enjoyed reading and seeing the transformation of the living room and upstairs bedrooms on our first Tokenized House Flip on Landshare. The kitchen, living room, and upstairs bedrooms have all been covered, leaving only one room upstairs to be renovated before this house is officially halfway complete — the bathroom.
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 offering 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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