I think it’s safe to tell our secret. I’ve been holding it in for a few weeks now, to make sure it was gonna stick, but things are looking pretty positive around here so I think the time is right…
In just a few short days, Metropolis Real Estate Solutions, LLC is going to move into the gritty, scary, dirty, and risky business of HOUSE FLIPPING!
We are closing on the property located at 1317 Canberra Ave. in Orlando on September 1. It is THE cutest little Sorensen Fletcher home with great bones and a POOL! It has the tell-tale roof line, a roomy carport, brick detail around the original front door and an amazing and classic atrium area with the original French doors from the 50’s.
I’m pretty sure we are insane, but I want to tell you why I think we are going to knock this out of the park and I think you will agree that there is almost no way that we won’t see an overwhelming acceptance by the market. Our intention is to bring to older, MCM homes that have been well loved (or not loved at all) back to their original glory. Of course we know that some of these older homes don’t always have the modern amenities that we all crave, so those will be present, but not at the risk of taking out all of the style and design that we love in our Orlando mid century, atomic homes. The LAST thing we want to do is put the wrong flooring, the wrong kitchen, the wrong anything into this adorable house that already needs the wood laminate torn out so we can see if we have some terrazzo to work with.
We found this house on the MLS about a month ago and it appeared to be priced below market value based on what we knew about the neighborhood. We had been tossing the idea around of restoring older homes for some time, but the few houses we’d made offers on, were always snagged up by another (likely overly confident) investor. We were tentative at first about making sure we had a wide birth for error and profit, and because we want to do any and all renovations beautifully, we can’t afford to go over budget on the sales price.
But, if there’s one thing we do know, probably better than most, it’s value. In our appraisal practice, we often have to analyze both the “as-is” value of a home in rough shape as well as an additional “repaired” value which considers hypothetical repairs or future values. I feel like this next move into restorations is a natural fit.
This particular house is located in the Dover Shores West neighborhood which is turning into one of my new favorites. It is bordered to the south by Curry Ford Rd. which is turning into a hotbed of dining options, and has multiple lakes to the north, including Lake Underhill which is a local favorite for excersizing. When writing the blog post about the neighborhood of a home we sold a few weeks ago on Crystal Lake Rd, I began selling myself on the location. The Dover Shores West neighborhood is located just about 2 miles S.E. of Downtown Orlando and about 1 mile S.E. of the hot and hopping Milk District. It is certainly central to any and all highway access and this particular street, Canberra Ave., is well insulated against any through traffic and almost all of the homes have beautiful landscaping and great, great, traditional MCM architecture. Add to it that it is much closer to my kids downtown schools, and I may find that I’m renovating this house for myself.