All Forum Posts by: Jeremy Grice

I have a lead on a foreclosure in the nicest area of a small Florida town 1/2 mile from the largest local employer.

It's a sprawling 2600 sq ft 4/2 which basically needs everything. It has roof leaks which will require extensive work. The roof requires a complete tear down/rebuild followed up with complete interior gut including plumping, HVAC, electrical, bathrooms, kitchens, wall coverings, ceilings, and floor coverings.

I can get the house with a 1/2 acre for 15k. Rough local comps would be 85k to 100k for a similar home in good shape. I've not penciled out the cost estimates yet and debating with my self on whether this is a waste of time.

Can you practically rebuild a house and still make money? Would appreciate other's thoughts.

I also thought it would make a good duplex if rehabbed correctly.

@Kellen M I'm new to REI but I have dealt with cat urine before. It was after an elderly relative let her cats run amok in her house. They had started peeing on a bed and a portion of the carpeted floor below it. We tossed the bed but successfully removed the cat urine smell from the carpet with a product called "Nature's Miracle for Cat Urine" purchased from PetSmart.

I bought a gallon of the stuff and soaked the area until it was soggy then covered it with trash bags for 48 hours to keep it from evaporating. Afterward I just cleaned the area with a steam cleaner and there was no urine smell. It took a while to completely dry out though. YMMV but it worked for me.

@Steve Smith thanks for the welcome and the advice.

@Latarus Thomas Thanks for the reply and best of luck to you as well. Maybe we can grab lunch one day to compare notes. We go to Tally quite often since "Up In Smoke" on Tennessee Street is one of our favorite BBQ joints.

@Paul Timmins My wife works for the local prop. appraiser. She said the same thing. She is constantly fielding calls from out-of-state and out-of-country investors doing due diligence.

@Karen Margrave Thanks for the welcome and the suggestion.

Greetings BP,

My name is Jeremy Grice and in most definitions of the word I'm a new to real estate investing. I've owned and rehabbed houses before but they where either projects assisting family members or they where organic efforts of my own with no clear focus.

I have worked in the corporate world for 15 years owning and operating a business along the way.

I have a successful career in the Telecommunications industry but I'm starting to dream the dreams of financial independence through real estate investment.

The wealth of knowledge found here is FANTASTIC and really appreciated! It would be great to find other local or regional investors to network with. I'm a people person so please don't hesitate to make contact.