Yay! We found it in Pueblo. listed price was $34,900. We were advised to offfer $30,000. We did. They accepted the offer. He is paying cash. The extgerior of home has new siding, xeroscaping,and is almost a third of an acre. The interior needs only lots of cosmetic work. It is tiny [870 feet] 3 bedroom, 1 bathroom,no garage or even a carport. We are guessing about 3 months before it is rental ready.
Congrats to your son!
Congratulations to your son! My youngest son (out of the Navy now) has been helping me with some of our rental properties. Wants to start getting into this area himself. Has a strong electrical background and is a quick learner. Also physically strong; a useful trait!! Not sure if he's looking to buy soon or waiting for mom to keel over and get some of my houses.....
Awesome! I really get excited when I see a young person getting involved in real estate. I imagine where I'd be had I done so. Congrats to your son. And remember, I'm sure you had a lot to do with encouraging him!
Am I allowed to give out the address so that you can look at it on zillow? the closing date is the 15th of September. We plan to start rehabbing on that day after he signs the contracts and gives them the money.
The kitchen is a galley with doors on both ends. The cabinets and sink are all on one side. The other side has a stove and hook ups for washer and dryer, the fridge and oven [no cabinets above]. At this point the work has to be diy [ we've got some kids and grandkids our sons age with skills in painting, electrical work, flooring, sanding, etc] and the budget is tight. The kitchen cabinets are in alright condition,but very dark. In the tiny galley kitchen. Should we paint them a lighter color? AND what can we do on the opposing side of the kitchen to add balance since there are no cabinets on that side?
Also, if we paint the kitchen would a very light peach be alright [with darker, but still light peach for the walls] or should we stick to white? We have already measured and made the backsplash, which will go with either dark or light cabinets.
Also, the place is still full of junk [not like the ones I have seen pictured on BP] but there is also a quantity of ruby and depression glass in some of the cabinets. If no one removes them before closing, do they belong to my son?
Sorry, I was talking light peach, almost white for the cabinets.
Way to go!
good for him the first one is the hardest.
You can't go wrong with white and some people will not like peach. Consider adding cabinets on the other side of the kitchen. it would be a good idea to "balance" and to add storage space. Since you are painting the exiting cabinets you could buy some used but good cabinets in white or paint them the the same white color. Take pictures of your kitchen and post them so we can give yu some input. If the washer and dryers are front load you should think of putting a counter above them.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.