House #39: Budget / Pictures

January 21, 2013 · 6 comments

We purchased The Rent-Back House about two months ago, and because there was a 4-month restriction on us reselling it, we agreed to allow the sellers to rent the house back for two months. They just left last week, and I just saw the house for the very first time…

While there’s nothing major wrong with it, it needs a full cosmetic renovation (replace all flooring, all cabinetry, all light/plumbing, fixtures, new paint, new appliances, some new doors, etc), plus some electrical work, some termite damage repair and maybe a new roof. Here are some pictures of the house — as you’ll notice, the seller’s left some stuff, including multiple TVs, some power tools, a workout machine, etc:

The Rent-Back House: Before Pictures

Here is our proposed budget on the project:

Total Estimated Budget

Rehab will be starting this week, and the goal is to have the house listed and under contract in the next 4-5 weeks, so that we can sell right around the expiration of the 4-month restriction.

6 responses to “House #39: Budget / Pictures”

  1. Shane says:

    Always love seeing your next projects rolling along. Even my wife was asking me questions about this one 🙂

    She asked what you paid for it, so I clicked on the results page and showed her. Which reminds me to thank you again profusely for proving this ridiculous amount of information for us.

  2. J Scott says:

    Thanks Shane…you made my day! 🙂

  3. Ac says:

    Hello, how did you come up with the money for your first investment house?

  4. J Scott says:

    Hi Ac,

    Our very first property, we used savings to purchase. But, on our next several, we used different types of financing — Conventional Loans, Portfolio Loans and some Private Money Loans.

  5. Rideout says:

    I just happend to stumble onto you web page and let me say you give some great info my friend. I can’t stop reading your old blogs.Thanks a million my friend

  6. J Scott says:

    Thank you, Rideout!

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