We stole this house

My clients and I finally closed on a Holly Michigan home. They wanted a older home with character on a larger lot. They had been looking on and off for about 6 months when we found this home.

It was a 2500 square foot home that we bought for $63,000. We got lucky because it had some easily issues that could be fixed relatively easy. But many home buyers couldn't see the fix. So home buyers were shying away from the home. The home has no curb appeal because it has no "real front porch". No landscaping out front.

But the bigger issue was at one point the home had been converted into a 2 family home. They had added a entrance to the second floor from the back. They had separate electric meters and a second kitchen upstairs. It was basically a duplex.

My clients bought it with the thought of making it back into a single family home. Luckily for us the mortgage company would not close the loan until it was converted back into a single family home. The selling bank probably paid about $4000 to have the kitchen removed, to have the second meter removed and the electricity changed. Plus the upstairs entrance was closed off. All at no cost to my buyers.

The major item that probably turned off many buyers was taken care of by the selling bank. So my buyers were able to pick up a home that had:

1. Newer windows
2. Newer roof
3. New furnace
4. An older home that had updated electrical and plumbing
5. A larger lot

For less than $25 a square foot.

This is a deal that the buyers had to look beyond what the house was and buy it for what it could be. Even if they put $50,000 over the next few years they should do well with it in the future.

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