House #26: The Fourfecta House

August 10, 2011 · 2 comments

We put our first HUD property under contract to purchase last week, and today, we got an accepted offer on another HUD property. This one is in the same subdivision as The Lake House, The Leak House and The Trifecta House, which leads me to the name The Fourfecta House (yes, I realize it’s not a real word :))…

It’s very similar to the other three houses in the neighborhood, though a little bit bigger. It has an extra sitting room on the main level and a separate laundry room, which in total probably adds about 200 square feet to the house’s footprint. In addition, the backyard is very large, and has a very unique design — lots of rose bushes, plants, trees, an archway thingy (my wife says it’s called a “trellis”) and a concrete pad surrounding a fire-pit. So, that will be a minor challenge when trying to make the house appealing to the largest segment of buyers.

Normally, we’d do a complete cosmetic remodel on a house like this, but given that the house is in decent shape and also that we’re very tight on budget, we’ll likely try to save the laminate hardwood flooring on the main level (it’s in great shape), as well as the kitchen cabinets/countertops and bathroom vanities, which are all in decent shape as well. We’ll paint the cabinets to freshen them up as well as replace all the hardware.

The exterior of the house is in good shape. While we’ll need to do a little trim and siding repair, the windows, roof, gutters and the rest of the exterior is in very good shape. And we don’t expect any issues with the plumbing, electrical or HVAC systems.

Not replacing the main level floor or the cabinets will likely save us about $6000, which should allow us to hit our budget and our minimum profit target. This is going to be another small-profit project, but given that we have difficulty finding great deals this time of year, I’m okay with that.

I’ll post some pictures later in the week…

2 responses to “House #26: The Fourfecta House”

  1. Tom Greene says:

    Congrats! I think you should have your wife use her marketing expertise on your house names though. 🙂

  2. ezra says:

    Okay, first of all I think fourfecta is a word. Second, I think Tom should realize what an awesome name it is!!!


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