WTF | What $1.2 Million *Actually* Gets you in California...

hey everyone me kevin here in this video

i'm going to show you exactly what you

get for 950 000 which is gonna 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 gonna 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

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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 gonna 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 gonna 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

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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 it