Check out this video – it’s another rehab I have in the pipeline and I want to give you an update on what’s happening with it. This one is at 4034 Manchester Road – right in my rehabbing sweet spot.
Come with me as I see the house for the first time. We bought it for $32,000 and our rehab budget is $38,000, so we’re into it for $70,000. It has a huge backyard and is located across the street from a church and a school.
One of my first thoughts when I’m in the house? “You know what it smells like to me? It smells like money.”
As we go through I can see our rehab plan come together – new carpeting, remove the wood paneling and replace it with drywall, new windows and reface the fireplace in the living room. In this one, believe it or not there is a shower in the kitchen that we’ll remove (yes, a shower in the kitchen). We’ll gut and flip the kitchen, completely renovate the bathrooms and stick with our basic neutral rehab.
Right now, our selling price would be $139,900, so even if we sell it for around $130,000, our profit after everything is said and done will be $40,000-$55,000.
To learn more about how to rehab bank owned and government owned properties without having to swing a hammer or do the work yourself, visit www.srecrehab.com. Check out how my friend Carrie did it while she was pregnant. Then come back to this page, leave a comment and tell me what you think.
