Trim margins, uncertain market.

I partnered with a GC who did all the work of repairing and replacing flooring, repairing and replacing trim, painting and hauling away trash.

The budget for the property is below.Paint walls, cabinets, trim and basement + wall paper removal $3,000Flooring throughout including finished basement $5,000Light fixtures, outlet swaps for white, misc repairs $2,000Landscaping $1,000Appliances $2,500TOTAL BUDGET $13,500Interest and estimated closing costs $10,000Future Sales price: $139,900Potential Profit $44,000Stay tuned for more updates, photos and videos.

There was some work done on the house, but there were lots of small details and finishes that needed fixing, so we handled that (e.g. adding nice affordable trim to mirrors, privacy on windows, touch up painting, caulking everywhere, etc. and Corby got his trusted contractors to deal with most other things.

Purchase price: $50,000 Cash invested: $40,000Five bedroom two bath house that was built in 1875. 2300 square-foot, fully remodeled, fully weatherized, new windows throughout, new siding, new flooring, new baseboard trim, new window trim, new door trim, new doors, Second bathroom fully gut and remodeled, Saved old doors and made a island out of one of them and a mudroom coat hanger out of the other one.What made you interested in investing in this type of deal?

They'd show up, trim the same hedge they trimmed last week, blow some leaves from one side of the yard to another, and leave. 

Repainting trim work outside.

It's a lot of mowing and trimming.

Hi Todd,That's an attractive looking building.Find a good stable tenant, and possibly offer some of the build out needed (if you have to--you may not have to).Just from a first glance, some tenants that come to mind would be:1) Auto Insurance Office.2) Pizza shop, owner operator, take out and delivery only.3) Dental Office (probably with a repaint to tan with brown trim or etc...).4) Dry Cleaner, drop off and pick up, where clothes are sent to main plant elsewhere by truck.5) Daycare, with attractive fencing if outside play area and parking are both available.6) Local Government or local utility branch office for payments.7) Meeting hall for the town Elks, Moose, VFW, Masons, etc...8) Realtors office.9) PO Box Rentals.10) Co-working space.11) Local Trendy Coffee house.12) Office HQ for your local Democrat or Republican or other party.Good Luck!

What originally was supposed to be a $125k loan kept getting trimmed back, had multiple interest rate increases and finally turned into something in the 43k range which like yours is small enough that it wouldn't achieve our goals for getting the loan in the first place.