The Bungalow #2

The Bungalow #2 is now the third house in a row we bought through a private party (non-MLS) furthermore attesting to our rule that the best deals are had when there is little or no competition. After starting the rehab on The Craftsman Bungalow I noticed there was another vacant house 4 doors down. It was the only house on the block now that hadn’t been updated and painted cute colors. What caught my attention was the overgrown grass and window units still in place. I asked the neighbors what the story was, all of them telling me that the owner lives out of state but he would never sell. One neighbor actually firmly instructed me not to contact him because it would be a waste of time as even if he did decide to sell he had promised the house to his daughter. Did I listen to the neighbors? Of course not. We ended up getting the property at 51% ARV.

Our initial plans were to remodel this house, however we decided on a whim to put it in MLS at 70% ARV and ended up selling it 2 weeks later to another investor netting us a fast 25%ROI. Another reason I decided not to do a big rehab here was the trouble maker renters next door could have possible dissuaded any potential buyers.

Bungalow 2 Before Front
Bungalow 2 Before Living Room
Bungalow 2 Before Backyard
Bungalow 2 Before Bedroom
Bungalow 2 Before Living Room
Bungalow 2 Floors Before
Bungalow 2 Before Kitchen
Bungalow 2 Before Dining Room
Bungalow 2 Before Bathroom
Bungalow 2 Before Doorknob