All Forum Posts by: Zach Brewer

I have done renovations to my own home, buying it when it was gutted. Electrical, plumbing, windows and doors, moved a few walls, new kitchen and hardwood, converted the attic to a living space with a master bed and bath, stucco etc. you get the idea. I am unsure if I can get the rent to $1,000 but won't take no for an answer. This will be my first investment property. The property owner wants only what the lot would sell for. The shell of the house is all that is good. 

Thank you both for the replies.

It's not necessarily a big pain, but by the look of the photo, the ceiling joists look to be spaced in the same place throughout this big room. I can't imagine that being up to code haha.. 

I did an analysis on this house before I knew the condition of the interior. It will rent for $800, but I will more than likely flip to get ahead. If I repair the property, I estimate putting around $25k-$35k in it. But if I level the home and put a prefab, I'm not sure on the estimates.

A friend from work informed me of a vacant house in his neighborhood and had said the owner was looking to get rid of the property. I jumped on this opportunity and contacted the owner (via mail, which did not get a response, but showing up to his door, did) to set up a time to look at the property. Once inside, I found this. This picture alone shows the in-depth work that it will take to get this property cash flowing. This house is around 700 sq/ft with a sagging roof, 1 interior wall separating this area with the kitchen, minimal floor joists, hardly any electrical and no plumbing. The MLS shows this property valued at $105,000, with the low end being $95,000. The owner wants a considerably low price.

The homeowner had started doing repairs to the house but did not pull any permits. 

My question is, should I redo the house and have MO down my throat about this house, or start fresh and do a modular home? I have options just not sure which to entertain.

Thank you for taking a look!

More on this deal,

I was finally able to contact the owner and meet up to take a look inside the property. This house is a shell and is probably too much work for me, but I don't want to say I can't, I want to say how. These pictures show the in-depth work that it will take to get this property cash flowing. This house is around 700 sq/ft with a sagging roof, 1 interior wall separating this area with the kitchen, minimal floor joists, hardly any electrical and no plumbing. The MLS shows this property valued at $105,000, with the low end being $95,000.

Hey, thanks for the reply! I posted it because I have no idea what I’m doing, but want to learn the numbers before I get my feet wet. 

A friend at work was telling me about a  vacant house next door to him that the owner lives out of state. He told me a very low price that the owner is interested in selling it for. I became a pro member after a webinar tonight and decided it was in my best interest to run some numbers. 

Thank you for helping out!

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*This link comes directly from our calculators, based on information input by the member who posted.