Flipping House Series: The High Risk House Part 1

As in any of life’s adventures, sometimes you just gotta take a risk. This is true, more times than our team would like, painfully true, in real estate investing. Our next home on our list is a house our team just bought. This particular home was purchased at commissioners foreclosure auction. What that means is we were not allowed inside to see the house before we bought it so needless to say there was not an initial walk through so we could not do our Property Repair Estimate Sheet beforehand. Keep in mind you have to buy these properties with extra safety margin (i.e.  lower purchase price) due to the uncertainties of not being able to see inside. If you are lucky higher risk means higher profit. However as you can see from the pictures below we were in for an unpleasant surprise. Here’s the before pictures of The High Risk House

 

Front of House Before

 

 

 

 

 

 

 

 

 

 

 

 

 

Dining Room Before

 

 

 

 

 

 

 

 

 

 

 

 

 

Kitchen Before

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Laundry Room

 

Under the Sink

 

 

 

 

 

 

 

 

 

 

 

Bathroom Before

 

 

 

 

 

 

 

 

 

 

 

 

Ceiling

 

 

 

 

 

 

 

 

 

 

 

 

Junk

 

 

 

 

 

 

 

 

 

 

 

 

 

To learn more about Part-Time REI visit us at http://part-timerei.com/

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Erik Hitzelberger has been Real Estate Investor since 2007. While learning the ropes in the market down-cycle, he now teaches others how to use his systems and leverage other people’s expertise to achieve their own goals.

Erik Hitzelberger – who has written posts on Part Time REI.


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About Erik Hitzelberger

Erik Hitzelberger has been Real Estate Investor since 2007. While learning the ropes in the market down-cycle, he now teaches others how to use his systems and leverage other people's expertise to achieve their own goals.

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