Recently I posted a blog about purchasing two houses for 23% over asking price. This is the primary residence! The other house was smaller and was in pretty good shape so I rehabbed it first as I knew it would be more straight forward. I wanted to wait on the bigger house as it require much more work and I knew I’d be in Roswell for 8 or 9 days during summer where I could walk the property and meet with contractors.
Before I left town I took a video of the place to show what kind of shape it’s currently in. As I mentioned previously, there’s lots of work but I see tons of value! If you’re not comfortable with this sort of project then investing in bank owned properties might not be for you.
In upcoming blogs I’ll write a bit about my interactions with contractors and bankers this summer and how those relationships are shaping the direction of my business. I’ll also share more about the renovation process and some of the challenges I encountered with this house. There were a lot of difficult decisions to be made with this property and I look forward to sharing some of my insights in one of my next posts.