Updated almost 5 years ago on . Most recent reply
Rehab Journal: Single Family Ranch in Bloomfield CT
We closed on this single family rehab in Bloomfield, CT on Nov 6. It was a probate property which we put under contract on July 28, but didn't get the court approval until mid-October. The house is a 1350 sq ft, 3 bedroom 1 bath ranch in a quiet area. It sustained some water damage during the past winter, in the kitchen, dining room and basement. Rehab will include new roof, new bathroom, new kitchen, upgraded electrical, plumbing repairs, and landscaping. We plan to add a 2nd bathroom to boost functional value. Remaining work is cosmetic in nature.
Purchase price: $44,600; Rehab cost.: $48,600; ARV: $170,000
This was a win/win for everyone involved.
We plan to complete the work in 45 days. With the winter approaching, priority is being placed on exterior work over the next two weeks. I am writing this post at the mid-point of week 1. So far, we've been making good progress.
Week 1 Status:
- Permits have been pulled
- Dumpster and portable toilet delivered to site
- Trees overhanging the house were trimmed and fallen leaves cleared
- Garage was cleaned out and exterior scraped for painting.
- House clean out is in progress, along with kitchen and bathroom demolition
- Roof replacement will begin on Friday (delayed because we had rain)
Stay tuned for weekly updates.
Most Popular Reply
How did you find this property? I look forward to seeing you freshen up this home. To your success!