Ok heres my flip situation...We bought our 2nd flip (made 20k off the first, not bad) we've made our money on the front end, but always want to make more. The house is in Lex. KY. 1350 sq ft ranch w/ carport and full basement. When we started it had 3 bed 1 full bath on the main floor. The basement has 1 legal bedroom and a makeshift shower. So my question is what do you think about adding a real bathroom to the basement and listing it as a 4/2? I think it is better to add the bath and fix up the bedroom even if we break even on the cost we put into that part of the flip. My husband is questioning me. Also we do all the work ourselves and the plumber we use is a friend so we have budgeted 3000 for the bath. So if we listed it as a 3/1 or 4/1 we would get about 130000 but a 4/2 should bring in 140000. Any thoughts?

The problem with adding a full bathroom to the baement is this; No one will ever use it. The basement becomes like guest quaters. I would dump the make shift shower ( depending on the drain situation ) make it a powder room. The carport is where you can make money.

1. you say you would like to get 140K for it. So I imagine it's not in a rich neighborhood.

option A, turn the carport into secure off street parking. ( enclosed garage )

option B, turn the carport into a master suite with a full bath. (no tub just a shower stall)

Depending on lexington building code. You can most deffinatle conver the carport into living space with a bathroom for less then 20.00 per sq ft. if your doing the work yourself.

My plan would be this if the neighborhood can handle this price range.

poweder room in basement.

carport into a master suit, with master bath.

List house as 5 bedroom, 2-1/2 baths.

asking price. 179,900.00

Budget 20K for flip.

I could flip this in 4 weeks.

I agree with dareyougo to an extent. I think a closed carport would be nice, put a complete bath downstairs, so it is a 4/2. I have a basement here (here being Colorado) and I wish we had a bathroom down here. My kids live with their mom, and their bedrooms are in the basement - along with a completely finished, full bathroom. Yes, often basements with bathrooms become guest quarters, but I've found different experiences here. Good luck.

MBlick:

There is no real living space in the baement other than a bedroom. If it was set up like a family room and a bedroom. I could see putting a full bath in. It would almost be like an In-law suit. Sounds like the basement is smallish to me. She could even make the room in the bament a rec room with a powder room. And do above as I suggest with the car port then she has a 4 bedroom 2 1/2 bath home. The master suit in the carport is a homerun.