I walked a distressed ranch this week with my coaching group - check this out

[Andrew Bosco]

I walked a distressed ranch this week with my coaching group. Here's exactly what we found.

960 square feet. Listed at $189K. Assessed at $260K — already a discount out of the gate.

What the listing tells you: new furnace, new water heater (2024), public water, sewer, and gas. Strong. Real strong.

What the listing doesn't tell you: pipes burst in the winter, water in the basement, floors ripped up, no garage, heavy tree coverage, needs a full new roof, new siding, new plumbing throughout.

We ran the comps. Nine closings in the last six months. Range was $207K to $445K. Median for a finished, market-ready 3BR/1BA — somewhere around $385K to $400K.

Then we ran the basement scenario. Finish it out. Add a bedroom and a bath. Now you're at 4BR/2BA. Comps at that spec push toward $425K.

The rehab budget: roughly $72K bare bones, closer to $88K–$90K once you factor in painting (and painting is running about $5 a square foot right now — not the $2–$3 it was a year ago).

Does it pencil? At cash, yes. At hard money, tight. That distinction matters.

The deal has desirability written all over it — quiet end-of-street location, clean neighborhood, no neighbors going up around it. It's just a numbers game from here.

Have you run into a deal recently where the listed price told you more about the seller's strategy than the property? I'd like to hear what you've seen.

#RealEstateInvesting #NHRealEstate #CandorInvestmentGroup