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First offer of the year
Well, I was recently viewing some properties. I had taken a little break from buying houses -- it's been almost 4 months to the day since I bought my last one. (Wait, why does that sound like something I would say at an AA meeting? :)
I did find one I liked and after touring it a second time, I was sure I wanted to make an offer on it. I know that some people make offers like crazy, but I'm not a a big fish -- it's just me and I'm very particular on what I want.
The property I'm making an offer on is 2 bedrooms, 1 bathroom, with a living room, eat in kitchen, and a basement. It's not a very large house but it does have a good sized yard and a 2.5 car garage.
It will need some repairs such as the front steps, painting, a little drywall work, a little bit of carpeting, siding on the garage, and replacing the C/A that was stolen.
On the plus side, the roofs on both the house and garage are okay, the water heater is relatively new, the furnace is from 2006, and it has circuit breakers that look to be decent. The layout of the house is nice, and although it's small, it feels very open.
My offer will be $25,000. If I get it, I estimate some quick rehab and then rent it out for around $800/month.
It's nice to be back in the saddle again!
Comments (3)
I don't have the exact figures with me but it was under $5,000. This includes me doing some of the work myself.
Dawn Anastasi, almost 12 years ago
Dawn A. that sounds like a great deal. Do not see anything close to that around here - if you dont mind sharing .. what are you budgeting for the repairs?
Moses Magnum, almost 12 years ago
Dawn, thats awesome! Keep it up!
Brian Feltz, almost 12 years ago