The Exterior
As for the exterior of this house, we are going to make some changes that will certainly make the property more valuable.
The most obvious change will be enclosing the front porch. We'll sacrifice the front porch for a bedroom. No contest in my book, because a bedroom adds heated square footage which translated to value!
Note: There is no better way to add value to a property than to add heated square footage!
We'll also make a less obvious change, and that is to enclose the back porch.
Both of these are already under the roofline, so very easy to do. The exterior of the house is T111, so the additions will blend in completely once the exterior is painted.
There is a repair we'll have to take care of under the front porch. I looks as if a support was removed at some point. We'll get some cinder blocks are re-support that area of the porch.
Beyond that, we'll paint the exterior, and remove the window AC units.
The roof shingles look to be in pretty good shape and not in need of replacing. As I mentioned previously, there is likely a small repair to the roof waiting on us, but it doesn't look major.
The fence (six foot tall wood slat) might need a board or two, but I probably won't go to the trouble of painting it.
Perhaps the biggest improvement to the exterior will be to simply trim back the trees which are hiding the front of this little gem. It's been unoccupied for a long time, so everything's overgrown.
Okay, so that's the exterior. We've already gone over the preliminary numbers. Tomorrow, we will go over the numbers again, but this time we know more as we prepare to close. As a teaser, the number on this property have changed a little from the initial thoughts of my wholesaler and appraiser.
The most obvious change will be enclosing the front porch. We'll sacrifice the front porch for a bedroom. No contest in my book, because a bedroom adds heated square footage which translated to value!
Note: There is no better way to add value to a property than to add heated square footage!
We'll also make a less obvious change, and that is to enclose the back porch.
Both of these are already under the roofline, so very easy to do. The exterior of the house is T111, so the additions will blend in completely once the exterior is painted.
There is a repair we'll have to take care of under the front porch. I looks as if a support was removed at some point. We'll get some cinder blocks are re-support that area of the porch.
Beyond that, we'll paint the exterior, and remove the window AC units.
The roof shingles look to be in pretty good shape and not in need of replacing. As I mentioned previously, there is likely a small repair to the roof waiting on us, but it doesn't look major.
The fence (six foot tall wood slat) might need a board or two, but I probably won't go to the trouble of painting it.
Perhaps the biggest improvement to the exterior will be to simply trim back the trees which are hiding the front of this little gem. It's been unoccupied for a long time, so everything's overgrown.
Okay, so that's the exterior. We've already gone over the preliminary numbers. Tomorrow, we will go over the numbers again, but this time we know more as we prepare to close. As a teaser, the number on this property have changed a little from the initial thoughts of my wholesaler and appraiser.
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Bruce W. Ford is the editor of Rehab-Real-Estate.com and is an ACTIVE rehab real estate investor. To read Bruce's special report entitled
"12 Things Real Estate Gurus Won't Tell You", click here!
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