The Deal Episode 1:
The Story
This property has a unique and interesting story. Our investor found this property off-market though a relationship that was formed over the years working in real estate. The owner of the home was an older woman who was a hoarder and had a large litter of cats. The house had such a strong odor of pet urine that it had soaked into the floorboards and was very pronounced as soon as you walked into the home.
The property was purchased for $200,000. This project required a full-gut renovation to bring this home back to a livable condition for its new owners. With a budget of over $200,000 this was renovated into a 3 bedroom and 2 bathroom open concept home with all modern amenities. An addition was added on the 1st floor to expand the kitchen and make room for a first floor full bathroom. The home also features a new driveway and French drain in the basement with sump pump. This property was listed at $499,000 and quickly had multiple offers over asking price and sold within 30 days of being put on the market.
The final sale price was $575,000!
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