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Overview

 

Buying an investment property without seeing the inside is DAUNTING. I would highly recommend against it in almost every case. You never know what you are going to walk into. Here’s why…

 

 

Here’s a before photo of the front of the house. The property was purchased at foreclosure auction and was identified as derelict by the City of Tacoma. As a result, all accesses to the home were boarded up.

 

 

The house was full of a previous “tenant’s” belongings, likely a squatter who was removed prior to the board up.

 

 

The kitchen was mostly destroyed. All of the appliances were disconnected and non-functioning. Tons of food was left behind which resulted in strong odors and rodents.

 

 

After removing the plywood covering the garage, here’s what we were greeted with.

 

 

Here’s one of the bedrooms. You can still see the plywood covering the back window.

 

 

Bedroom #2

 

Day 2

Almost all of the debris and furniture has been removed. Now we can assess what needs to be done.

 

 

Bedroom #1 with furniture, debris, and carpets removed.

 

 

Bedroom #2 also cleared out.

 

 

A portion of the wall between the dining room and kitchen was removed to open up the room.

 

 

Most of the exterior remained the same throughout the process. A new roof and garage door were necessary replacements.

 

 

The living room with fresh paint, new trim, and new flooring.

 

 

Here’s the completed kitchen remodel with peninsula and seating area where the wall used to be.

 

Purchased for: $210,000

Sold for: $307,500

 

 

Bonus Story

It’s a secret hope of every real estate investor that there’s something of value in the home being renovated. Odds are there isn’t, but in this case there was.

 

 

East Tacoma is booming! Take a look at how much this area has grown in this neighborhood video from Windermere Professional Partners