Updated almost 7 years ago on . Most recent reply
Small House in the Big Neighborhood
Hello Bigger Pockets,
I have been hounding this site and the podcast over the last 6 months while I have been searching for a deal in my area here in Jacksonville , NC. I have made offers on about 15 different properties and finally am under contract on a home that as luck would have it is 4 houses away from my first rental property. This new home was built in 1967 and is a 3 bedroom 1 bathroom house totaling about 950 SqFt. I feel this is almost perfect because the home price for me is about $72000 with 100% military financing not through VA and seller help with most of the closing. this home is in a development with mostly newer homes ranging from 1200-1800 SqFt and cost from $120000- 180000.
I am writing this post to gather some insight and advice from the community on my plans to value add through a possible master suite addition and bathroom. Has anyone had experience doing this ? Also did it seem worthwhile for this plan? I currently rent my adjacent property which is a 1250 SqFt 3 bedroom 2 bathroom for $1050 per month and would hope this could be ascertained in this second property. Maybe I am looking for a sanity check or someone to tell me its a waste of time. Thank you in advance for any insight or talking points.