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Author Topic: My first deal.....I think ???  (Read 2070 times)

Offline akademikjeanius

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My first deal.....I think ???
« on: July 19, 2005, 03:45:43 pm »
Bank Owned

3 bedroom/ 2 bath

1600 sq ft.

In nice quiet area, no other realtor signs in the yards so once people move into the area, they stay.

Purchasing for 37k.

Repairs:

1. New cabinets and sink in kitchen.

2. New roof.

3. Shower tiles in one of the baths need to be replaced.

4. Lot of moisture in the house = Dehumidifier

5. Porch needs vinyl soffit on ceiling and new floor boards (house was built in 1898)

6. Termite and Carpenter ant damage - minor but present. Few door frames have been eaten up, up under peeling paint, you can see caked on dirt where they are trying to start a colony up underneath.

7. New ceiling in one of the bedrooms because leaking roof caused water damage.

8. WHOLE house needs paint and carpet.

9. Exterior needs new two tone paint and shutters on one side of the house.

10. Saw mold on a wall in the basement. Small area, abot as big as a piece of paper.

11. Master bedroom is kinda small so possibly add-on to it.

12. There is an old barn behind the house that is severly damaged from termites/water. Lot of the wood is rotted out pretty bad, BUT its a new roof on it. So should I tear down the barn and put up a garage OR do a massive rehab on the barn, keeping the two levels and make it like a garage/ whatever they want to use the second floor for? Put vinyl siding on it to make it match the house?

How much do you think I'm lookin at?

House will appraise for roughly 100k or more easily.

Any opinions or advice are welcome. ???

 




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