Well we have the property I mentioned in April 21 2009 under contract. Once it closes I will update you on the outcome. A hint the profit will be around 35k and the rehab cost about 4k.
The 4 bedroom home I mentioned April 9, 2009 has a tenant in there paying $650 a month. So after the 19k I spent in it I figured it will take 38-40 months to pay it off. Then its all free money!!!! Free and clear!
The last property Id like to mention is the one I discussed on the 14th. Id like to show you what we have done and give some insight as to how some rehab is done and maybe some pleasant surprises discovered along the way.
Step 1 Retire the 1950 door with the diamond window....gag! I could have left the door with natural wood but I wanted it to POP from the street. We painted this a medium blue. The back side however we polyurethaned it to maintain the wood grain look and accentuate the
surprise we found inside.
Step 2 Replace the side door as shown here with a new slab door. Also we though long and hard about the siding. The previous owner tried to just hide it with hardipanel. But the new owners and buyers would constantly wonder "Whats under there?" Lap siding is in my opinion a classic timeless look so .....
side wall--before
after
Here are some more sections we took out and replaced with real wood siding.
Front of home--before
after
side of home before
after---the sill was rotted and had to be rebuilt.
Porch in rear --before; filled with mostly rotten trim pieces.
Pieces were replaced when in doubt.
after
And now for the best part: What would cause a man to pull up perfectly good carpet?
Ha ha you ask.
A suspicion and then pay dirt....pristine wood floors the previous owner was too lazy to strip and refinish. Look at that color. More of the outcome and the finished home within a couple of days.
