In this on‑site video, Southern California real‑estate veteran Joe Homs walks viewers through a Huntington Beach flip project to demonstrate how to perform a comparable analysis on a somewhat atypical property—a 3‑bedroom, 1‑bathroom home with a backyard pool. He explains why a second bathroom was not added due to space and pool‑setback limitations, and he outlines the criteria for valuing the pool (simple “hole‑in‑the‑ground” versus a more resort‑style amenity). Joe details the planned rehab scope, including interior painting, kitchen cabinet refresh, new tub, toilet, vanity, can lighting, air‑conditioning, landscaping, and pool clean‑up. He highlights value‑adding features such as a wood‑burning fireplace, open‑concept kitchen, two‑car garage with upstairs storage, tankless water heater, and water softener. Financially, he cites a purchase price of roughly $825,000, projected rehab costs of $40‑$50 K, and an anticipated sale price just over $1 million, illustrating the profit potential. Throughout, he encourages viewers to like, subscribe, and contact him for mentorship or assistance with flips.
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Hello and welcome. We're out here in sunny Huntington Beach at one of our flip projects. Today we're going over how to do a comparable analysis for a property like this that is a little unique. So this is 3 bedrooms, 1 bath with a pool in the backyard. Most of the homes in this area have at least 2 baths. We looked into putting another bathroom in this home, but it's like there's really no place to put it. And as I show you around, you'll see that there's actually no place to put it. So we're going to leave it just like it is, 3-bedroom, 1-bath. We're in the process of rehabbing it now. And once that's done, we'll put it back on the market and sell it. If you have any questions whatsoever on this project that we're doing or on anything that I can help you with flip-wise, real estate-wise, Please click down below, enter your information, and always make sure that you like and share these videos. Hi, my name is Joe Homs, and I've flipped hundreds of homes here in Southern California. I have over 40 years of experience. I've been a broker, mentor, and investor, and I want you to like, subscribe, and share this content with your friends. Okay, let's go take a look inside so I can kind of show you Why this was a little bit more difficult to do comparables on in this community. So come on in. We replaced the front door, as you can see. As you see around here, it's pretty much an open concept. We've got the kitchen and then the living room area. The kitchen cabinets are going to stay. We are going to professionally repaint them. So that they look like they're brand new. The flooring came like this, so obviously we'll clean it. Everything inside is going to be painted. Let's go here first and then we'll end up in the back. So these are the 3 bedrooms in the back. We've got a bedroom here, here, and here. There's really no master or primary bedroom like they like to call it nowadays. And then here's the one bathroom. Keep on coming. So because you want to make the bathrooms and the kitchens look as best as you can, we decided to remove everything from inside the bathroom, and they're in the process of putting a brand new tub back in and tiling around. The toilet will be replaced, so don't go all panicky on me that you saw this lowboy toilet. That'll be replaced. They'll put the new vanity back in. We put some can lighting in to get some good lighting in there as well. This is, this is where the heater goes, and if you want to see a heater back from the '70s, that's what a heater back from the '70s looks like. This is a beach community. We did look around to see how many other homes had air conditioning, and we decided we're going to just throw air conditioning in this place as well. Because it gets hot, but not as extremely hot as the inland flips or cities that we flip in. So let's go out back here. Okay, so out back you can see, you know, a nice looking pool, but there's really no room to put anything else out here. It would make it look a little bit strange if we decided to put a bathroom out here. So that's why we decided just, you know, just let's just rehab what we have, put it on the market and sell it as is. If the new buyer wants to come in and hire an architect to figure out where to put an additional bathroom or maybe even a bedroom, you need to have a certain amount of feet away from the pool. So again, I didn't want to go through all those issues in this situation. A lot of this stuff was overgrown. We have had a landscaper out here. You can see that he's trimmed up all the trees real nice, all the bushes real nice. The pool guy's been out here. That pool was absolutely green when we bought it, so we had to empty all the water out. We cleaned the pool, put all the water back in, and now you can see that it's nice and blue the way it's supposed to look. We had somebody ask why homes only had one bathroom. Back in the day, that's what they used to do. It used to be just, you know, family, husband, wife, maybe one or two children, and all they needed was one bathroom. And also for a savings, cost savings. So it's obviously less expensive if you don't put that extra bathroom in here. But nowadays it's kind of the opposite. There's homes being built out in Riverside that are 5 and 6 bedrooms, 3,000 square feet, 3 and 4 bathrooms. So it's kind of gone the other way, but that's just the way they built them in the '60s. Somebody asked about the value-add for the pool, and let's talk about that because that's really important. And I like to look at it Kind of 2 ways. One, a hole in the ground, or 2, a resort kind of looking pool. So you can see we're, we're kind of in the middle here. If this pool was just a pool with nothing surrounding it, it would— what I would call a hole in the ground. Doesn't really add much value. This one's a little bit more. So You've got the pool, you've got a spa, you've got a wood-burning fireplace over there, you've got a bench for people to sit. The pool actually, there's a waterfall feature on the top layer there, so it's a lot more than just a hole in the ground. So when you're doing comparables, make sure that you compare that, okay, is this just An eyesore hole in the ground, or is this a little bit more resort-type looking? And so that's what you try to make it look like at the end of the day. Okay, so let's go back inside. Let's, let's talk about the pluses that this has. Obviously a huge fireplace behind you, and I'll have him pan over to take a look at it. Nice fireplace in the living room, and we've made almost a feature wall here so that people can see as they walk in how it looks. We've got an open-concept kitchen, so you've got the opening here, and our contractor's there. You can say hi. Hi. You got can lighting that is in place. Okay. We got a garage out here and then an extra storage area where the washer, the dryer, the water heater, everything's out in that storage area. So that's, that's also a nice feature. In fact, let's just go out and take a look at it. So we have washer and dryer here. And then we got a tankless water heater and then a water softener as well. And this is a pretty big space, so that's why you've got all these cabinets here, extra storage, and it just, it adds to the value of the property. And then behind you is a 2-car garage with storage upstairs as well. So in this community, we're close to the beach. We're a couple of miles away from the beach. It's nice, it's, you know, private, it's in a very, very good area. And so this was a great buy for us. I believe we paid $825,000 for the property, and we're looking to sell it for maybe a little bit over $1 million. The rehab that you're looking at, hopefully at the end of the day Somewhere around $40,000 to $50,000. So you can do the calculations and the numbers for yourself on how much of a profit we're going to make from there. But if you need some more information, if you like properties like this, if you're interested in learning how to flip properties, make sure that you reach out to me below. Again, like and share this video. Let's get this content out there so that other people can do exactly what I do here.
