77K return . . . but I wouldn't do it again!

[Douglas Larson]

Older home with great bones built in 1942 - needed full remodel.

Purchase price: 235k - short sale
Projected costs and time: 45k and 3-4 months.
Actual renovation & carry costs $86k and 8 months of work.
Commissions/concessions $22k
Sale Price $419,900
Net gain $77k

Most proud of... Kitchen and master bath.
Most stressed by... HVAC system overhaul $8,300 after 7 different bids from 7k to 20k.
Take-a-ways: 

- old houses offer many unforeseen challenges.
- cat pee is really nasty!

- it's really fun to see a diamond in the rough take shape!

Kitchen before...

Kitchen after...

Liv rm before . . .

Liv rm nearly complete...

Master bath after...

[Douglas Larson]

@Ryan Billingsley

@Nancy Brook

@Mary B.

@Andrew Bondarchuk

Thanks for the questions and comments. I'm definitely not complaining about a good return, and Im not afraid of a little work and the normal issues of babysitting subcontractors. This home is just the oldest property I've worked on and it had way more issues than expected. The list was never-ending! 

I fell in love with the views and the potential but the honeymoon was over after about 3 months (my usual duration for a total rehab) and there was still so much to do! To be clear, I'm not just another guy with commitment issues. I actually have several rehab to rent homes that I'm keeping indefinitely. This project just went on forever.....  From now on I'm sticking to my core business model of homes under 30 and vacant land.