East Austin Buy & Hold Rehab is Complete and Rented!

[Gary Ennis]

We finished this house earlier this summer. A previous owner had begun a studs-out remodel in 2009 and stopped about 40-50% of the way through the process. The house then sat for 5 years until we bought it last fall. It had no meters, no electric, no water, no gas - plus outstanding expired permits from 2009. Some of the previous owner's work was OK, but much of it was pretty kludgy and needed re-doing. 

Needless to say, it was a learning experience for us. Lots of fun times dealing with the city, inspectors, and contractors of all stripes. It took a lot longer and cost more than we anticipated, but we're gonna be OK on this one. We'd planned to be all in at $190K. We ended up being all in at $205K. Luckily East Austin continues to be super hot, and the property is worth about $230K at present. 

We've got it rented to great tenants. It took me four open houses to find them; patience pays off!

Thanks to fellow BPer @Jason Grote for selling us this deal!

Before and after pictures are below - enjoy!