Purchase Date:
The Deal
We were able to find this property through our local Facebook group for Real Estate Investors. Originally the property was listed in the group by a friend of mine, and even though we were interested in the property, we thought the price was a little high at $33,000.00. About a month later my friend came back to me and asked if we were still interested in the property. Their buyer (who had talked them down on their price to $27,000.00) had fallen through, and they agreed to a price of $25,000.00 if we could close immediately! We ended up getting the property for closer to $24,000.00 and the seller paid the entire upcoming year’s taxes, so that saved us almost another $700.00!
Before Video 1 of 2
As you can see, the tenants left this place a mess. We had bought this house with the tenants already in place, and we had a little bit of difficulty getting them out due to the restrictions put in place by the CDC during the Covid-19 pandemic. However, once they are out it gives us an opportunity to get the house back up to the standards of the neighborhood (and those of RedBird Realty Solutions). When we bought it there were busted windows that were boarded up while the tenants lived there (which we fixed immediately), but there were also lots of improvements that needed to be done everywhere, especially in the kitchen!
Before Video 2 of 2
It’s always surprising to see what level of filth people are willing to live in, especially people with children. Not only that, but these tenants had pets that they allowed to cause trouble to the property as well.
Updates Done
- We painted the entire inside of the house
- Installed all new vinyl plank flooring
- Painted the cabinets and installed new counters
- New bathroom surround and glazed the tub
- New toilet and bathroom fan
- All new ceiling fans, new living room light switch
- All new outlets & covers, as well as light switches & covers
- Installed a new half bath off of the dining room
- Fixed the outside fence as well as all the gutters & spouts
- Repaired the porch and shed, and cleaned up the landscaping in the back yard
- Removed a lot of bad subfloors
- And much, much, more!
After Video
As you can see from the video, there has been a decent amount of work done to the property, especially the inside. In the kitchen, we installed brand new stainless steel appliances (the fridge has water and ice in the door), a new countertop, hardware, paint, and flooring.
Off of the Dining Room we have put in a half bath to help out future tenants. The location may not be ideal, but it will be nice to have a first-floor bathroom. We also bleached the basement to rid the place of smell (due to pet pee), painted everywhere, new outlets/switches plus all-new covers. New blinds, flooring, & carpet for the stairs. We hoped to avoid the carpet, but it was unavoidable.
One area that we were not able to upgrade that we will in the near future is the windows. While all the windows are in working order, we would really like to upgrade them to all new replacement windows. For this particular tenant turnover, we had to prioritize other upgrades.