Diamond in the Rough: Astonishing Property Renovation

February 28, 2017

This week’s property spotlight shines on the breath-taking renovation of a 3-bed, 1-bath single family rental in Miami, Florida. The modern renovation was executed by Elite Vestors Group Inc, lead by a successful real estate investor in the Miami market with over 10 years of property investment experience. The investor began establishing his flip portfolio in 2005 when he was only 20 years old. In the last 2 years, he has purchased, fixed and flipped 42 homes and currently has an additional 19 properties in various stages of resale.

Prior to renovation, the property was outdated and the lack of care was evident with the property’s old cabinets, missing tile flooring, and lack of functionality in the bathroom. The renovation addressed these issues and more. The kitchen, which once featured moldy and old cabinets, visibly worn flooring, and rusty appliances and fixtures, took a modern new look. It now sports new white cabinets, marbled countertops, new ceramic tile flooring, a mosaic backsplash, and a brand-new sink.

To further accentuate the new modern approach of the property, a bar/kitchen window was added as a new amenity to the property. The bathroom, which once included moldy flooring and a bath wall on a breaking point, now features brand new bathroom fixtures (cabinets, sink, toilet, and lighting), new flooring, and a revamp of the shower. Some other touches of the renovation include a fresh coat of paint and new flooring throughout the entire property (interior and exterior), new windows and front door, and a total landscape cleanup of the front yard. From distressed to diamond, this property is ready to be made into a home.

CoreVest works with borrowers like Elite Vestors Group Inc., to finance real estate investment portfolios of various quantities and property types.