Fixer Upper in Billings MT

[Jared B.]

Hey all,

I'm working with a gentleman in what will possibly be my first deal and am looking for opinions and advice on how to move forward smoothly. Home is in Billings Montana. Don't have actual square footage down yet. Built in 1929 and moved off original lot for some business expansion. Seller only asking $35k, and doesn't sound excited about owner financing but may give it a shot with a hefty down payment.

Need to acquire land, and am eyeing one plot I may be able to get on loan. Walls are plaster and many appear to have cracked in transport off original foundation. Underside of house is immaculate, without cracking or for of any kind. Seller states plumbing and electrical are updated modern. 

I just found out a nifty way to fix plaster walls without replacing them, which basically involves binding them back to the lathe backing.

So, my understanding is I Need to price land, moving costs, foundation costs, permits, utility hookups, renovation/landscaping, and then sell/rent this thing into bigger pockets :)

Let me know what you all think. Sorry I'm having difficulty getting pics and video formatted right to post on here. Should have them up soon hopefully.

-Jared

[Joshua D.]

What do you think will be the resale value of the home will be?

I looked at moving a house onto a property that I already own and the house was free and ready to be moved. The bid I got just for moving was $35,000 plus foundation. Crazy... We ended up buying a nice used double wide mobile home instead and it was much nicer And no repairs, we placed it on a permanent foundation and made it finacable for resale. 

Hook ups to city water sewer, gas and electric ran about $8000 installed 

Zoning fees were about $100 but it was quite a processs 

 Moving fees were $3000. 

All in we had $18,500 + land (came with our first duplex) Current CMA came back at $95,000

I know I'm a bit biased but I would look into finding a good mobile home rather than a house.