1st completed rehab project...

[Heather Pelletier]

Heather, We all want to know how you first rehab turned out..

I just received the above PM from Tom C and decided to make a post for all of you critics out there! Be kind, remember this was our 1st project!

We purchased the property for 55k. Our original budget was 30K to rehab and our original timeline was 3 months. We ended up going WAY over budget due to needing to rewire the entire house ( we thought only the downstairs needed to be done) and we ran into some plumbing issues. We also had an electrician bail on us which added to our timeline by 3 weeks. To make a long story short we ended up putting 60K into the house and it took us an additional 3 weeks. We're into the house for 110K and it appraised for 160K. Our goal was obviously make a profit but we figured as long as we broke even we'd be OK. We were willing to take on the challenge and overall I think we did alright. Currenlty it is being leased with an option to buy. We have hooked our tenants up with a credit repair specialist to help them work out the kinks and hopefully they will end up buying the house. We have checked their references and the seem like good people.

You can see pictures of the before and after on our website hainprop.synthasite.com. While you;re at it feel free to give us any suggestions we have to improve our website. We'll take any constructive criticism you may have.

Tom, Thanks again for following up, it means a lot!

Heather