Another Day…. Another Deal

For the last week we have been looking at a vacant 3 family home that has some fire damage to the rear exterior. I don’t know what it is with these fire damaged homes but I have a knack for finding them. I’ve brought contractors through and have been running some numbers. We finally met with the owner today and put it under contract for $20,000 with a closing next week.  Heres a picture:

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It’s been empty for over two years and all the copper pipes are gone (big surprise lol). It’s gonna need three new boilers, three kitchens, three bathrooms, alot of new windows, siding, roof repair and new porches. This is a very large three family with all three bedroom units. Each unit should rent for $900 when renovated. We may keep this as a rental when the rehab is complete.  This came as a referral from an insurance adjuster we recently had worked with on another deal. The kicker on this property is that we may be able to get some of the insurance money back when we finish the rehab. I’ll post more details and photos as things progress with the property.

 

The hardwood floor guys are over at the house on Hartford Terrace and they should be wrapping up over the next three days. That house is gonna look good when the floors are complete. After the floors are done we will clean, stage, and than put it on the market.

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