Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago on . Most recent reply

User Stats

18
Posts
3
Votes
Joseph Jordan
3
Votes |
18
Posts

Thoughts on this property?

Joseph Jordan
Posted

Hi all,

I was hoping to get some thoughts/advice on this property. I know those who aren't local might not be familiar with the market in this area, but I was hoping to possibly get some ideas on the possible rehab budget involved in this property? I was guestimating at around $70K - which might not leave much of a profit margin. Also, should it raise any red flags that the house (kitchen, bathrooms) were gutted, but then they stopped and decided to sell? I drove by the property and it doesn't seem too bad on the outside, however the garage looks like it is barely standing and the house to the left looks to be in horrible condition, almost to the point where I would be worried it would distract potential buyers from this house even after being fixed up. Any thoughts welcomed, thanks!!

1140 Garnet St NE, Salem, OR 97301 | MLS #21161037 | Zillow

The main level and upstairs attic bedroom total about 1250 square feet, with the basement being around 700 square feet.

Most Popular Reply

User Stats

11,763
Posts
13,688
Votes
Bruce Woodruff
#1 Contractors Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
13,688
Votes |
11,763
Posts
Bruce Woodruff
#1 Contractors Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
Replied

Hard for any of us to say if it's a good deal, since we don't know the area....it is a 1937 house though so beware...

Main things to look for: 

1) Roof 

2) Foundation 

3) Sewer (Cast Iron?) 

4) Electrical - Main Panel size/number of breaker slots/wire size/grounded?/

5) General plumbing & HVAC condition

6) Everything else

A whole house remodel like that might get done for $70k, but that would be tight IMO, even if you owner/builder it. I would say get some bids, but you don't have time for that. How handy are you? Better be fairly handy to be able to take on anything that comes up later.

Loading replies...