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:
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.
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.
Thanks Shane…you made my day! 🙂
Hello, how did you come up with the money for your first investment house?
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.
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
Thank you, Rideout!