House #5 Under Contract! Info and Preliminary Budget

I’m under contract to purchase House #5.  This one is located in a new market I’ve been stepping into since my area is still very low on inventory.  It’s a big house at 4 beds 3.5 baths and around 2500 sq. ft.  This one will be quite a project though.  It has significant water damage behind a couple of walls because it was built using synthetic stucco.  So the stucco will have to be removed and replaced with new siding in addition to a full cosmetic rehab inside.  Here’s a photo of the house and a quick preliminary budget.  I’ll be meeting some contractors in the next week so I’ll post some more pics soon.  It will be a cash purchase so we should be able to close it in the next 2 weeks or so.

Purchase Price: $95,000

Rehab budget: $55,000

Expected resale price:  $200,000

 front

Budget


Comments

House #5 Under Contract! Info and Preliminary Budget — 1 Comment

  1. Pingback: Video Tour of House #5 | MendedProperties.com

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