Tuesday, December 05, 2017

This old house....

We had been toying with the idea of picking up a second rental property for a while, but nothing we found seemed to be the right fit.  They were either too much money, needed too much work, or were in an undesirable location.  One Sunday in April, Clint spied this gem.  A 4 bedroom, 1 bath, brick house.




It had been listed for $122,000 and was suddenly drastically reduced.  I mean drastically.  So we decided to give it a shot and looked at it the same afternoon.  The exterior had been updated with siding and new windows, but the inside was 1960 all over again.  Faded, dirty, flowery wallpaper all over the kitchen. The closed in carport was not quite finished all the way.  The floors were torn up linoleum.  Two rooms had no floor at all. The walls were dark paneling.  Doors were missing or broken.  Looking past all of that, it had potential.  The floor plan was nice.  It had custom kitchen cabinets (in dire need of TLC) and custom book cases.  The bathroom had been updated with marble.  It had lots and lots of storage space.  It was in a decent neighborhood and the price was so low.  The yard was huge with an awesome oak tree.  Clint put in a really low offer and the sellers accepted -- it belonged to NINE children who inherited it. We did all the inspections and found out the central a/c unit was shot.  It also needed a bit of electrical work.  Everything else looked good, so we bargained for a few more thousand off, and got it for a real steal.

Then came the 'fun' part.  The renovations.  Clint got bids - for just labor - and let's just say some of them were just ridiculous.  Perhaps they just didn't want the job so they purposely overbid.  Some of them came in more than double the lower end bids, for the same amount of work.  Crazy.

We ended up hiring someone to do the things we couldn't and did a lot of the work ourselves.  Never again.  Never.  It wasn't that hard, but it was slow and tedious.  Our entire summer was spent working in this house.  We re-did everything.  Painted everything.  Replaced everything.  It did turn out rather nice.  We learned a lot and managed to stay well with in our budget.  It then took a while to find the right tenants, but it's been a couple of months and so far so good.

Here's a few before and after pics of what occupied many many months of our time.  How did we do?




























2 comments:

bozoette said...

Wow! You did great! Love the kitchen reno, and the built-in bookcase looks brand new.

Veronica Lee said...

I agree with bozoette. You did a terrific job! You guys are pros!