Hey everyone me kevin here in this video, i'm going to show you exactly what you get for 950 000, which is gon na, give multiple offers and sell for over a million dollars, so for a million dollars in southern california just outside of santa barbara, and it's This it is a 1961 three bedroom, two bath 350 square feet. Let's take a look inside this is your family room right here, uh you've got the classic acoustic ceiling. You've got some cracking on the walls. You've got some cracking coming off the windows and those are just the minor hairline cracks.

You get the wallpaper and two-prong outlets in the bedroom. You get some three-prong outlets, although those might not actually be grounded. In fact, here you can see those beautiful two prongers right here got these classic hollow core doors here that uh don't take paint too well, but that's okay, it's cheaper to paint them than it is to replace them. The property has three bedrooms.

Like i mentioned. You've got one bedroom right over here with that sort of middle school style, linoleum right here, a little bit of a pinkish hue in the bedroom over here you do get an overhead light, though you have central heat, but no central air. Some of the doors have a little bit of damage over here: the older kind of brass hardware as well, no hardwood on this particular property. So you do have carpet over linoleum on this particular one.

You have original aluminum, vial, uh sliders here so aluminum windows. They are a single pane window. The screens need a little bit of love acoustic ceiling, because this was built in 1961. Probably asbestos asbestos-based, given that you do have some settling you're gon na, probably have to do a little bit of work on some of the doors to keep uh things from actually closing properly, like the sliding glass door, doesn't open and close too well so you'd have To make some adjustments, given that the foundation has shifted a little bit, but this a little bit larger of a kind of hairline crack.

That you'd usually want to see not really a hairline crack anymore. As soon as you can start fitting. The tip of a pencil in you uh go past hairline. You start going into okay.

You've had some settling in the property. Quick note. If you want a full download of everything that i know about real estate and how you can make money in real estate check out the real estate investing course or the do it yourself, property management and rental renovations programs linked down below you can even bundle them Up check them out linked below and you'll get lifetime access to all future content. That's added so uh.

This is the kitchen over here, the original cabinets actually not in bad condition. These kind of cabinets can take paint pretty decently, but you do have this flower wallpaper that you would have to take off. You might want to do a little bit of rearranging anyway, but what a lot of people would do is they would probably want to remove this upper section here and then see if they could do any kind of potential opening here problem is with some foundation settling Already, you might not want to move any load-bearing walls, because you might continue to adversely affect the foundation. What some people might do is they might want to lift up some parts of the foundation left and right corners back side of the property feels like that's.

What's thinking a little bit, i would say: there's probably a good chance. You could, let's see here, yeah here's the water here. So if you move the water heater, which you have a copper plumbing, so it's been upgraded, copper plumbing, but temperature pressure relief valve is not plugged to the outside, which is right here. Uh furnace is actually in this closet as well.

So if you could move these furnace to the attic water heater to the garage be able to get rid of this particular space here and what a lot of folks are going to be doing is looking at this wall right here and the key here. It's probably going to be bearing at some point, but if you can extend this wall with a nice beam like a timber strand, which is an engineered type of lumber, if you can get a nice beam across the top here and really open this up, keep maybe A load-bearing post on this side and then keep load on this wall. Obviously, if there's no load here best case scenario right, but there's probably going to be, that would be a nice way of making this property flow and open again, and it would enable you to potentially even pull this kitchen out since you're, probably going to refloor. You might want to pull the kitchen out a little bit just so you have a little bit more space over here.

You do. Have the appliances well probably going to get new ones. This is the laundry room you can see the original sort of uh well linoleum. Here, but also these uh hose lines to the uh washer dryer.

These are the worst half. These hose lines are known for bursting, especially if you ever have like a water surge from the utility or higher water pressure just at the regular. This is your bathroom. That kind of serves as your master bath so you've got.

The blue cabinet matching the blue, porcelain, toilet and porcelain sink top over here, and it goes off to this bedroom here, which this is right off the front door of the house. So you're kind of at the front, usually you'd, have the master in the back, but this doesn't actually have a master, the back of the property so you're going to see. If you head back over to the back of the property over here, you're going to have a guest bath over here and this one we're going to have the pink colored porcelain and a pink colored tub here, you're, probably going to need a new surround as well. Unfortunately, for this one i don't think you're going to be able to get away with repairing this one, also a little bit of an odd placement for the medicine cabinet, but nothing that can't be solved so uh you do have.

You can actually see the asbestos boot right up here for your venting. If you, google, asbestos boot, you could get a really good picture of that. Taking a look at the back and the front of the property, let's start with the front and do a quick little circle around hi there, a lot of people at the property right now, which is pretty typical. It's kind of a way of reiterating that you're at a good deal right, um, roof, probably about 15 years old, there's some delamination sort of the well, i shouldn't say: delamination: some of the granules have already started getting removed.

Obviously, the gutters have rusted away, but otherwise this is the front of the property here, pretty nice front yard, though you do give up a lot of real estate to the front yard. You've got you head over here: asphalt driveway. Unfortunately, the asphalt driveway's, not the cheapest thing uh. This is probably going to cost you about.

Let's say seven grand to replace. So if you're, looking about seven grand for the asphalt you're gon na, be about probably another fifteen hundred bucks for a drive, uh garage door and garage door, opener you're, looking at an interior remodel, it's probably going to knock on the door somewhere around 40k i'd, throw Maybe 15 in the kitchen floor paint will be another 15, including removing the acoustic. That's what you get about: 30 bathrooms you're, going to throw in about 10 uh and including in this maybe electrical and some light plumbing so somewhere around 40 45 for the interior. The problem is going to be the question mark about that foundation and what you want to do with that wall.

If you want to go through permitting and get an engineer involved, i mean you could be sitting on this. If you go through permitting you'd be sitting on this for a year to get a load-bearing wall done, i wouldn't necessarily recommend that uh that that you know you touch the wall. If you end up having to go through that for a year because you'll be sitting vacant for a year and your costs will just balloon but uh otherwise uh you know, if you did the wall as well, and maybe for an engineer and a contractor to do It in a proper manner uh. Let's say it wasn't load-bearing, but you had an engineer, verify that you know maybe add five thousand dollars or so for that so 45 inside paint, the outside do the driveway.

Do the garage door and such you're probably sitting at somewhere at a 65 to 70 000 remodel here, not including foundation work? If you do foundation work yeah and you lift up some of the back portions of the house, you could probably add an easy 20 to 30k. It's not terrible, but if you wanted to fix it, you'd probably be adding 20 to 30k. So if you wanted a good, solid budget for this house, i'd say 100. If you do the foundation and if you want to go a little bit higher and you'll you'll, be throwing in 120 pretty quickly so to get this you're, probably going to have to pay substantially over uh the listing price.

It's listed for 950 uh, the comps are anywhere between 1.2 to 1.4, you'll, probably be in the neighborhood of uh. Trying to buy this around i'd, say maybe 1069, something like that uh then after you fix up, maybe you're into it for one two. If you tried to flip it, maybe you try to get one four on the way out: hey, quick update, so i found out from the listing agent that this house is probably going to sell for over 1.2 million dollars and the people who are buying it think It'll be worth 1.4 to 1.6 million dollars, so they're really a little bit more optimistic than i was on that resale price. If they're going to flip it or maybe they'll hold on to it, but either way, i'm shocked that they're willing to pay this much.

I thought it might go out for about 10.70, maybe 1-1, for it to be going out over 1-2 seems nutty. Who knows if it'll actually end up closing for one two? Sometimes people will grind this stuff down during escrow. I really think it needs to be under 1.1 to be a good deal and, honestly, even at that point, it's pretty expensive. I'd rather pay one for it and actually make money on it.

Otherwise, you're not gon na make money by the way. I just noticed in the attic there were multiple roof purlins. I believe purlins uh, from what i could see just poking my head and coming right down onto this wall at least uh here and then probably two more on either side of this. So it's a full on load bearing wall here.

So while, yes, you can see purlins in the attic just like you can see in the picture here, they're. Actually those horizontal members that you're kind of seeing a cross section of in this image. What we're mostly looking for are where the purlins connect with the struts and where the struts go down. So what we're going to do is take a look at the red arrow here you want to look at where that strut goes down to that middle beam and that's where roof load is sitting on your house now take a look at this.

Can you see those struts coming down right on that center wall? That means you've almost certainly got a load-bearing wall in that big middle wall that would be so nice to open up so the cost just went up, and then your neighbor's got an outpost to keep. You safe with like a search light on top, but anyway this is the backyard the uh house is mostly ungrounded. If i haven't mentioned that already quick reminder check out those programs on building your wealth linked down below you'll, learn everything that i know and you can use that coupon code link below, but nice backyard. Another potential that you could do with a house like this.

Is you could take a house like this and you could turn the garage into a guest unit and you could also potentially build another guest unit back here to have about a five foot side. It'd be a little tight to try to build one out here. It's not as deep of a backyard as i would love to do a guest unit out here, but maybe, if you did like a detached over here in the corner, it'd be about you'd want to go at least 20 by 20. 20 by 20.

Would probably take you from maybe a foot off of that sliding door there all the way down to the end of where the existing structure is and then probably out pretty far to over here. So it's kind of be like adding a two-car garage back here for another guest unit, so you could potentially have uh three units here, garage main house and then unit in the back potentially in the future. Maybe you'd be able to add a fourth one, which is crazy. That's just the california effication of things that are going on here.

Surprisingly, outside the foundation, damage actually doesn't seem so ridiculously uh abnormal. For what you would see, i mean certainly you'd want to remove this little tree right here. That does you know good and yeah, okay, not bad! So, anyway, that's what a million dollars gets you just outside of santa barbara in california. But if you want some potential look at this house, this house, beautiful so not only have they got a beautiful, exterior paint color over here, but they've got the newer dual pane windows.

You can see here. So, let's zoom in a little bit you've got the vinyl dual pane windows. Here. You've got virtually what looks like a brand spanking new roof.

You got the solar panels. You got the chimney cap uh properly done. You've got this nice smooth, stuccoed uh wall right here. That's very expensive by the way to do the smooth stucco, oh yeah, they did the new driveway as well.

Look at what you're next to over here. I'm not exactly sure what this this big contraption thingy is here but see. Look at this is nice. They put a lot of money in so this just shows you the potential of what this could be in the future they're working out here, wow, that's quite a christmas display, but uh anyway, yeah oh look at this and then you've got somebody over here.

Who's added on top of the garage, a guest unit and then you've got potentially some more original homes in the neighborhood like there's another one right there, just with the overgrown yard. But it has the dual planed windows and looks like solar panels and potentially new roof. As well but missing chimney cap, which you can see right there and uh the overgrown yard, maybe a telltale sign that that could be something to buy in the future too. Anyway, oh that's cool, and so that way you can be by your um hi.

There hi you can be by your garage and then have privacy with that big screen there. That's kind of cool super super cool. Okay, so there you go there, you have what a million dollars gets. You in california hope you enjoy.

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