Real Estate

[Willink]

Nice is all that land yours too?

Yeah 6 acres, waterfront on bay to south and on creek to the east. About 10 miles north of Sacketts Harbor. To get a lot alone on a half acre on the major finger lakes south of Rochester was almost as expensive as this place.

Sacketts Harbor is an absolutely beautiful area. I had a friend who lived up there back when I was stationed at Ft. Drum and living in Clayton.

The guy we bought it from was an atc at wheeler sack lol

[Carl Gerbschmidt]

That is why you do what you have to do to sell and buy. 1st night on the lake last night

That isn't on Wheeler Lake, is it?

Nope I am on Pine lake North central Minnesota.

[Gunzaan]

I just bought my first house! So freaking pumped! The last 3 weeks have been crazy, with looking at 10-12 houses per week and 3 failed bids in this buyers market, but we landed the house that I was the most excited for out of all of them... so it worked out

[APB]

Congratulations!

[Gunzaan]

Inspection today, closing on Nov 13. Time is dragging now, haha

[Gunzaan]

I don’t really take pictures - my wife does that - but I do have a few pictures of the new place. We are very fortunate to have won the bid on this place, as it was built in 1998 and I’m not the handiest guy in the world. 95% of the houses on the market in our price range were from the 50s/60s/70s. I’m sure I’ll be learning through trial and error though!

Already painted 5 rooms, replaced a faucet, some blinds, etc and have quite a few plans for landscaping in the spring. We are waiting on a new couch before redoing the living room.

[BF004]

I don’t really take pictures - my wife does that - but I do have a few pictures of the new place. We are very fortunate to have won the bid on this place, as it was built in 1998 and I’m not the handiest guy in the world. 95% of the houses on the market in our price range were from the 50s/60s/70s. I’m sure I’ll be learning through trial and error though!

Already painted 5 rooms, replaced a faucet, some blinds, etc and have quite a few plans for landscaping in the spring. We are waiting on a new couch before redoing the living room.

Home, sweet home!

[Trudge]

Nice! Now...where ya gonna put the TV?

[Gunzaan]

Nice! Now...where ya gonna put the TV?

Oh, that’s just the library - the family room is double the size with a nice 70” TV. We are waiting on a new couch that we ordered to arrive before that room gets completed!

[BF004]

Nice! Now...where ya gonna put the TV?

Oh, that’s just the library - the family room is double the size with a nice 70” TV. We are waiting on a new couch that we ordered to arrive before that room gets completed!

I am now expecting to see a good post or two from you now in here in the coming months: viewtopic.php?f=5&t=66

[Ghost_Lombardi]

In the last three years I have purchased and rehabbed 5 foreclosures, selling 3 and keeping 2 in a rental portfolio.

It has been quite lucrative, but incredibly labor intensive for me, as I do all the work myself.

A couple of properties I have done

3310 Random Road. 51,000 ---103,900
1918 Winters . 60,000 ---- 129,000
1319 Wayside Road. 34k tax sale + 25k rehab -- rental at 800 per month

All in Kalamazoo.

[BF004]

In the last three years I have purchased and rehabbed 5 foreclosures, selling 3 and keeping 2 in a rental portfolio.

It has been quite lucrative, but incredibly labor intensive for me, as I do all the work myself.

A couple of properties I have done

3310 Random Road. 51,000 ---103,900
1918 Winters . 60,000 ---- 129,000
1319 Wayside Road. 34k tax sale + 25k rehab -- rental at 800 per month

All in Kalamazoo.

Curious, where do you put your money/time to get them flipped for top dollar?

[NCF]

In the last three years I have purchased and rehabbed 5 foreclosures, selling 3 and keeping 2 in a rental portfolio.

It has been quite lucrative, but incredibly labor intensive for me, as I do all the work myself.

A couple of properties I have done

3310 Random Road. 51,000 ---103,900
1918 Winters . 60,000 ---- 129,000
1319 Wayside Road. 34k tax sale + 25k rehab -- rental at 800 per month

All in Kalamazoo.

Curious, where do you put your money/time to get them flipped for top dollar?

I imagine like Joanna does... open kitchen and master bed/bath. Floors. Paint. Done.

[BF004]

In the last three years I have purchased and rehabbed 5 foreclosures, selling 3 and keeping 2 in a rental portfolio.

It has been quite lucrative, but incredibly labor intensive for me, as I do all the work myself.

A couple of properties I have done

3310 Random Road. 51,000 ---103,900
1918 Winters . 60,000 ---- 129,000
1319 Wayside Road. 34k tax sale + 25k rehab -- rental at 800 per month

All in Kalamazoo.

Curious, where do you put your money/time to get them flipped for top dollar?

I imagine like Joanna does... open kitchen and master bed/bath. Floors. Paint. Done.

I doubt on a 50K property you are gunna be thinking knocking down walls for open concept.

And who Joanna?


Been thinking more and more about trying a rental property, just curious on priority order, walls, appliances, kitchen, carpet/floors, cabinets/counter tops. I'm sure it varies from property to property and target client. But always like to hear more thoughts on the topic.

[Ghost_Lombardi]

In the last three years I have purchased and rehabbed 5 foreclosures, selling 3 and keeping 2 in a rental portfolio.

It has been quite lucrative, but incredibly labor intensive for me, as I do all the work myself.

A couple of properties I have done

3310 Random Road. 51,000 ---103,900
1918 Winters . 60,000 ---- 129,000
1319 Wayside Road. 34k tax sale + 25k rehab -- rental at 800 per month

All in Kalamazoo.

Curious, where do you put your money/time to get them flipped for top dollar?

THe properties I buy are condemned or maintenance has been deferred for decades; the home needs pretty much everything from windows to flooring to roof to furnace to paint/lighting/etc. Sometimes homeowners have done bizarre DYI that has to be torn out before a real fix can be made. In other cases the property is being squatted in, which usually means a "cash for keys" arrangement and paying for a moving truck and storage to get them out (or waiting forever for an eviction). What I have been doing is not like the stuff you see on TV. Or at least not the part that makes it to TV...

My target for selling is a first time home buyer. Everything new, clean, modern and maintenance free is what they want. They don't expect granite or finished basements or high end appliances. If I decide to rent I get top dollar.

So your question doesn't really come up. I would assume kitchen/baths/finished basement/2nd bathroom are the items to look at with a quick flip.

[Ghost_Lombardi]

BackHouse.JPG (138.61 KiB) Viewed 7677 times

[Ghost_Lombardi]

More before

[Ghost_Lombardi]

The "before" and "after" don't do the volume of work I did justice. I filled a 24 foot long/8 foot high trash container with crap before I could even start working. Mice everywhere. Nails/deck screws all over the drywall, etc. I removed four mattresses, two tvs, and a living room set from THE ATTIC.
I suspect 15-20 people were living squatting there. They had illegally tapped into the power above the meter, trying to steal electricity. So I had no power for the first month. The city had turned the water off at the cock (under the street) to prevent water theft. The gas line was plugged to prevent theft...

[Ghost_Lombardi]

More "after"

[NCF]

And who Joanna?