1915 Craftsman Restoration: From Drab to Fab

[Kimberly Merrell]

Investment Info:

Single-family residence other investment.

Purchase price: $20,000
Cash invested: $120,000
Sale price: $279,000

Purchased a home in a rough neighborhood and had it moved to the country. Took out nearly all lath and plaster, overhauled wiring and plumbing, and refinished existing wood finishings.

What made you interested in investing in this type of deal?

I needed a project to keep me busy after my first husband passed away in a car accident.

How did you find this deal and how did you negotiate it?

Found it on the MLS as a VA foreclosure. Submitted offer with listing agent.

How did you finance this deal?

Cash

How did you add value to the deal?

Spent lots of hours elbow deep.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Sold the home using Sheri Bashlor in Waycross, GA. She was able to price the home to sell within a short amount of time so that my family could relocate across the country. She is also the person who inspired me to become a real estate agent.