my credit mistake...looking for options on a sfr

[tbsells]

Bilge-

Not sure if this is too little, too late, but in '05 we bought a house that had NO working kitchen or baths.

Once we had it locked up (contractually), we got permission from the owner to plumb one of the bathrooms (very basic stuff, took 3 hours, used mostly what they had and installed a pedestal sink).

We also had some kitchen appliances we weren't using, so we moved in a frig and stove, and plumbed in a kitchen sink (in a cheap $150 vanity cabinet). Moved in a couple of shelving units, and Voila!: A fully equipped kitchen!

We used an appraiser we'd worked with before (no interior pics were necessary), and got a great appraisal.

This helped us get the loan we wanted. And it was a LOT cheaper than a bigger downpayment.

-Russ H.

This is brilliant. These are the kind of "get it done" thought processes that make real estate investors alot of money. I bet alot of investors stayed away from that house because it lacked a functional kitchen and bath. They knew it would be hard to finance and passed. You probably bought it cheap, improved it and made alot of money. rep+

 

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[Bilgefisher]

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[Bilgefisher]

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