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Updated over 9 years ago on . Most recent reply

User Stats

320
Posts
100
Votes
Kyle Penland
  • Investor
  • Dyersburg, TN
100
Votes |
320
Posts

My 3500 Property that no one else wanted! Before and After!

Kyle Penland
  • Investor
  • Dyersburg, TN
Posted

So i bought this home as a foreclosure, termites, rot, holes in the roof...I bought it for 3500!   I actually fell through the floor in the bathroom during the final walk through before closing.  I put 25000 into the rehab of this home and replaced most of the floor joists in the kitchen and bathroom as well as sub floors and floor coverings. I just wanted to share my handy work!  Time frame was  6 weeks mostly because I only had 1 helper on the job until I pulled my property managers team in also to finish up.  Its on the market now to be rented and hoping to get 600 a month.  I financed it with a local bank and pulled 23k back out and it should net me 190 a month.  Just wanted to share!

Most Popular Reply

User Stats

432
Posts
481
Votes
Jim Shepard
  • Investor
  • Edwardsville, IL
481
Votes |
432
Posts
Jim Shepard
  • Investor
  • Edwardsville, IL
Replied

Looks great!  The neighbors should be impressed.  I did a rehab a year ago that I took the inside down to bare studs and built it up.  It went from the worst house on the block to one of the nicest!  I actually heard the neighbors talking about the rehab while I was on my hands and knees finishing the landscaping.  "It's pretty bad when the rental house is looking better than our houses".  The neighbors actually did some improvements after that.

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