Flip that Baby !
Hi BPers,
This is my latest rehab. One of biggest and ugliest house that i have purchased. The garage has ceiling damaged by water and everywhere else some kids has vandalize the house. Found the deal through my direct marketing. House has been vacant for past 5 years. That means....all mechanical items need to be replaced.
Smells money inside the house. Awesome deal in terms of numbers . The numbers are below 68% ARV after repairs and closing cost included. This is expected to be a Buy and Hold. I would do double close on this with hard money and later Conventional financing.
1 month rehab estimate but i am not rushing as it would be hard to find good tenants during Winter months anyway. I usually do my own rehabs with subcontractor but in this case i am trying a General contractor with good credibility. Its going to be beautiful after its done. Will post as the project continues.
James