Season 2, Episode 7

Finishing a Flip

Real estate agent Drew Levin and contractor Danny Perkins are looking to buy their next rental house just outside the city, where there is a good market for large family-friendly properties. But a master suite is a must-have for this search. First, they check out a six-bedroom house, listed at $245,000. It's huge, but all of the bedrooms have outdated panel walls, and none of them work as a master until they hit the second floor, where one of the bedrooms has been turned into an unpermitted kitchen. Danny sees potential to knock down a couple walls and turn the entire floor into a master suite. Next, they look at a hundred year old house that's listed at $200,000. It's cheaper than the first, but doesn't have as many bedrooms. Also, the living room and dining room have been walled off to use as extra bedrooms by an owner/landlord that was obviously in trouble. But when the guys find that the kitchen and bathrooms have been newly updated, it's clear that another owner had already come in, tried to turn this place around and couldn't finish. This house has great original woodwork and decent bedrooms, but no real master. So when Drew and Danny get to the attic, they are excited to find a large space with lots of potential. They can increase the total number of bedrooms in this house, so the guys are sold. But first, they have to make sure that the updated kitchen and bathrooms have been permitted by the city. Once that's out of the way, they transform the attic into a master bedroom with corner closets, a reading nook, and two nightstands inset just under the pitched roof. Danny also builds a custom slatted bed frame and headboard, so tenants won't have to carry a bed up to the attic. Downstairs, the living room and dining room are opened up and tied together with a coffered ceiling and a salvaged antique archway that almost perfectly matches the home's original wood details. In the end, the projects come in $500 under budget, and the guys are able to rent the house for $250 over their original estimate.
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