$53900 / 2br - 1246ft² - Handyman Special! Cash. Partially gutted and ready to put together! (Hastings)
We are just looking to payoff our loan and move on to our other projects.
What we have done since purchase:
-painted exterior -replaced bad roof on garage and porch -gutted first floor walls and ceiling -purchased 5 replacement windows to upgrade the ones which are outdated (comes with the house) -gutted the plumbing -hired a furnace/AC guy to put new furnace/AC and run necessary new duct work and put 1/2 of job down (no working heat now)
What needs to be done:
$10,000 (price my contractor gave me) -Repair/replace some weak/rotted floor joists -Reinforce the trusses (outdated and weak) -Add some foundation support
$1,000 -Install the windows already purchased
$4,500 -Install new electric (we have an estimate for approximately this much)
$5,200 -Install new plumbing (we paid $600 down of $5800 estimate), includes finish plumbing
$3,500 -Install new furnace/AC and necessary duct work ($7k total, we put down $3500 already)
$2,000 (estimated cost) -Insulate and drywall the first floor
$2,000 (estimated cost) -Paint interior walls and ceilings
$5,000 (estimated cost - $2k tile, 1k carpet, 1k laminate) -Install new flooring (tile in kitchen and baths and carpet in bedroom and laminate on first floor)
$10,000 (estimate cost - high estimate) -Install kitchen and bathrooms
Total rehab cost = $45,000
Purchase $55,000+45,000= $100,000
Estimated After Repaired Value $150,000
We have a short term loan which must be paid off, so we cannot do any type of owner financing.
This is a video before we purchased the house to give you an idea of the layout. It is obviously painted on the exterior now. The first floor is gutted and the roof is replaced on the garage and the porch. We don't believe the second floor needs gutting so we only planned on doing the first floor.
- do NOT contact me with unsolicited services or offers