So you want to do rehabs? Im hoping this is my next project

[Chris Adams]

While everything is going great with my subdivision project, I need to move closer to that project. So my wife and I started looking for something we could buy and rehab for ourselves. Our parameters are, must have 3+ acres with woods on the property, and preferably 1800+ and some rehab needed.

Well we found it ! Unfortunately someone else got an offer in before us. But their offer is based on them being able to get a Renovation loan and close in 45 days. Our offer was Cash - No Contingencies - and close as son as possible. I will gladly disclose price after I get the property.

We are an accepted back up offer and I don't see the first offer getting closed in time.

This should be a fun one.

[Chris Adams]

We did end up getting this house /fistpump

This property is 6 acres in Valparaiso Indiana. The house is 2400 sf 4 bed 3 bath w 2 car attached garage. The land is beautiful heavily wooded in front and an open field in the back.

The house, well thats a different story. The foundation and 90% of the framing is rock solid.  We are planning to gut the house to the studs and do a complete rehab from there. Im even tearing off the second floor completely and reframing. 

This was not a foreclosure, it was privately owned by an Anesthesiologist who got transferred to California 10 years ago. He had planned to come back and never did. The house was fully furnished when he left and has been vandalized a few times. All the copper has been stolen along with anything of value.

Raccoons ate thru the roof in 2 places so there is some water damage on 2 walls. I should have that opened up soon to see the real extent of the damage.

The picture is the view from the rear of the property looking towards the house.

Its going to be a pretty intense rehab project. Unlike my usual rehabs I am not doing everything myself, I'll be pulling my subcontractors in on this one.

The dollars on this project look like this PP 120k Rehab $115k ARV $375k

This should be a fun one !