Tag Archives: rehabbers

How a Repair Escrow Can Fix Your Dream House

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921 E Columbia St, Colorado Springs, CO 80903

Wholesale House For Sale - 921 E. Columbia St., Colorado Springs, CO 80903Investors, this property is under contract and no longer available. If you’d like future updates on available wholesale deals, please joint our HotList at www.WootRealEstate.com.

Fantastic property under contract in the central part of town available for wholesale purchase.  Superb rehab opportunity or potential buy and hold.

Information follows:

Call: 719-629-7355

Email: cgilbert@wootinvestments.com

Property Address: 921 E. Columbia St. (Under Contract)

  • Acquisition Cost (includes wholesale fee) $70,000
  • Repair Costs $40,000 – $60,000
  • After Repair Value $200,000
  • Gross Profit $70,000

Comps:

  1. 1117 E. Monument St. – Under Contract for $198,500 – 2 Bedrooms /1 Bath – 1383 sq. ft. – 1 Detached Garage
  2. 807 E. St. Vrain St. –  Sold for $220,000 – 3 Bedrooms /1 Baths – 1352 sq. ft. – 1 Detached Garage
  3. 824 N. Institute St. –  Sold for $188,350 – 3 Bedroom /1 Bath – 1142 sq. ft. – 1 Detached Garage
  4. 818 E. San Miguel St. – Sold for $185,000 – 2 Bedroom/1 Bath – 1001 sq. ft. – 1 Detached Garage

Property Notes:

This single family rancher has a lot of potential! Sits on a nice big lot just outside the “Old North End” of Colorado Springs.  It is 1,139 sq. ft., 2 bedrooms and a den (that can be used as a 3rd bedroom),  1 full bath.  There is plenty of room to add an additional bathroom and/or expand the kitchen if you desire.  The house needs a new roof, furnace, water heater, and appliances. Kitchen and bath will require updates.  The original hardwood floors are in really good condition, under the carpet, that you will want to refinish!  There are also some foundation issues that Peak Basement Systems quoted to fix and stabilize the foundation (we will provide these docs). Clean up in the crawl space is needed.

Rehab Notes:

The rehab costs really depend on how much work you want to put into the property; fix and flip or buy and hold.  You will definitely have to repaint/update the interior and exterior, along with some stucco repair.

Exterior Photos

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Interior Photos

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Improve Your Home With Confidence With These Home Improvement Tips

home improvementImprove Your Home With Confidence With These Home Improvement Tips (via http://howtolifestyle.com)

Why do you want to renovate your house? Some are tired of the old look. Others hope to boost the value of their home and earn some money. A love of this type of project is motivation for some. It doesn’t matter why you are doing the work, this article contains great tips for any project. You should…

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