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Updated over 7 years ago, 05/01/2017

User Stats

58
Posts
24
Votes
Brenda B.
  • Rental Property Investor
  • Western Slope CO
24
Votes |
58
Posts

HELP! Closed on vacant/REO house-need ideas-what to do 1st-w/Pics

Brenda B.
  • Rental Property Investor
  • Western Slope CO
Posted

Hi BP crowd- we just closed on a house through Auction.com-first of all, that process was seamless and fairly quick. We're not sure about our plans for the house- I'm going to live there during reno- we live in aspen and I'm sick of the long winters & short summers. I work remotely and my job allows me to live in one of four counties in CO. We took a HELOC out and my plan is to fix this up and refinance with mortgage to pay back HELOC. We have about $10k for reno, which doesn't seem like much at this point! We didn't get the house inspected, we spoke with neighbors who knew previous owners and the house had also been winterized and gas/electric on all winter. It's a 1700 sq ft modular on a foundation, has a crawl space- it sits on 3/4 of an acre in a small subdivision of seven homes. (Yard irrigation is free through the town.) It has a huge garage, size of a four car garage with opener and large window, also nice big storage shed. Fenced yard with dog run and kennel area. The wife died in 2012 & the widower lived there until fall of 2016, then his children moved him back to MO. The house is dirty, carpet stained from dogs but no pee smell just old & dirty. Appliances work but are 15 yr old white so they're gone. It has a giant master bedroom and huge master bath-modular's have good floor plans! On other side of house there are two additional bedrooms and full bath. There's a picture window off of dining room which I hope to change to doors that lead to a deck- the views are beautiful and there's a large back yard. I also want to do a deck off the front of the house to dress it up. As you walk in thru the front door there is a wall that separates the kitchen and living room- it has those cut outs in it for an old style TV- I'd like to put a gas fireplace there. I think the kitchen cupboards are fine but maybe I paint them white? Definitely new stainless appliances and new flooring throughout. We already have 1000 sq ft vinyl plank flooring-a man bought too much and sold $2100 worth for $600 to get it out of his garage. The tubs and showers are cheap plastic or fiberglass- I think they need to be replaced, along with all of the bathroom fixtures- I'm hoping to keep the vanities, which match the kitchen but put a new top on them. I've been seeing that travertine flooring is good for bathrooms? I also need to replace the window screens-my husband says I should do this myself and I say no way. Need new front/back doors and many of the interior doors are missing. For the outside I'm thinking stucco and fake (nice) rock on the front and hopefully just replacing the bad portions of siding rather than redoing it all. We're crawling under the house today because there's rust and plastic down there- it may just be from the leaky hot water heater or??? Cross your fingers. Here are some pictures- any other ideas/thoughts?

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