PROJECT TYPE: Retail Flip
ADDRESS: 1008 RANCHOAK COURT YUKON, OK 73099
CLIENT: Table Investments
SQUARE FOOTAGE: 1,346
This project was one of our flips. It was a “bread and butter” deal. The margins were too small to make sense for an out of state buyer. Since we were the sellers, we were able to save on commissions and come closing costs. We were only comfortable taking on a deal with such small margins because the house was newer (compared to what we normally purchase) and the work to be done was all cosmetic. The chance of finding a hidden surprise was very small. This suburb is also tough to buy in at this price, so we knew we’d likely secure a buyer in less than a week.
There were not any forced change orders on this project. We made a couple changes to the scope of work at the end when another property came on the market in the area.
Change Order 1: Wrap Beams
The living room had really great ceilings, but the room felt flat with the fresh paint. We decided to wrap the beams which brought some good dimension and added a softness to the space.
Change Order 2: Granite
We also opted to upgrade the counters to granite to make our property stand out against the others in the neighborhood. We found a slab for a stellar price because it had some imperfections, so the price made it a no brainer.
Since this rehab was done in the winter we ran into some bad weather and opted to delay photography and the final clean by about a week to avoid rainy photos and muddy footprints from showings. We lost a small bit of money in the extra interest paid to the bank to ride out the bad weather, but that was more desirable than having to pay for muddy footprints to be removed after showings.
This property is located in Yukon (an Oklahoma City suburb). The property is conveniently located right off several major highways making it easy to commute to most major employers. The property’s close proximity to downtown OKC, several hospitals, Dell Technologies, the airport, and Hobby Lobby make the location highly desirable to property owners.
Address: 1008 Ranchoak Court Yukon, OK 73099
Neighborhood Class: A
Closest Highway: I-40