Abandoned Home Amazing Transformation | You Won't Believe your eyes!

Abandoned Home Amazing Transformation | You Won't Believe your eyes!

It is finally time to call this project completed. it has been a long 12 month process. Working with the occasional helper, this ugly duckling has been turned into a beautiful home.

For those who don't know the backstory, I'll tell it here. This home was abandoned by the owner in 2012 and the taxes had been left unpaid for many years. Tax certificates were purchased by a corporate entity and during the tax sale in 2019, the property received only one bids .. mine.

I put pencil to paper, and decided that I could make this project work if everything would work in my favor. My goal is total cost divided by expected rent cannot exceed 48. Initial expectations were purchase price of $6000 + $40000 in renovations and $1550 rent. This gave me a gross ROI at 29.7 months. I decided to purchase the property.

Estimated market value is $110k on the low end and $152k on the high end. Fair Market Rent is $1775, significantly higher than the initial target of $850. Gross ROI on this project is 23.7 months! To quote my old friends Ted Theodore Logan and Bill S Preston Esq., that is "Excellent!"

Please leave a comment below and any questions you might have. I am always ready to answer questions and I really enjoy the feedback. It helps me improve.

#WholeHouseRenovation #ExtremeRemodeling #AbandonedHouse

EDIT
For those of you still reading, I have had many people suggest that I didn't actually do this work that it was somehow staged. I assure you I did the vast majority of it with the exception of the things that I was required to hire an outside contractor by the permitting authority. No, I did not film the outside contractors.

Yes, I did all the framing myself, trim/doors, flooring, ductwork, plumbing, most of the electrical, tile work, cabinets, countertops and painting (oh how I loathe painting).

No, these aren't high end finishes ... you don't put high end finishes in a rental property. You use mid grade and durable finishes. When the tenant moves out, it will have hopefully held up and repairs will be a minimum. If repairs are required, I can be satisfied that the cost will not be terribly high.

Also ... no I will not tell you exactly where I live.