Dallas-Fort Worth Real Estate Investor Club

Historic Property Dilemma - Elvis Buys Houses!

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  • 07 Jun 2015 9:35 AM
    Reply # 3378060 on 3375042

    Good insight Greg Wilson! I'm sure you know that area well. I will call her! Thank you!

  • 07 Jun 2015 9:35 AM
    Reply # 3378061 on 3375042

    Good insight Greg Wilson! I'm sure you know that area well. I will call her! Thank you!

  • 07 Jun 2015 12:07 PM
    Reply # 3378170 on 3375042
    Deleted user

    Steve, I like Greg's suggestion as well as some of the others.... I don't think that you need to spend unnecessary time and $ getting info that is easily attained to make a smart decision. Call Greg's contact, call at least one other independent agent (I never use only one opinion as the source of truth), review recent sales in the area (taking Greg's concerns in to account), and go make a specific visit to  the neighborhood/neighbors... I think that will be sufficient to make a smart decision.... And yes I would like to get together as well! I'm in NE off and on this and next week, but let's schedule some time to get together! 


    Brian R. Baker, MBA

    Texas Housing Partners / New England Housing Partners

    Last modified: 07 Jun 2015 12:10 PM | Deleted user
  • 07 Jun 2015 6:17 PM
    Reply # 3378499 on 3375042
    Cindy Carriger (Administrator)

    I think your idea to keep the original charm in the areas other than kit and bath sound good.  However, for the kit, i would try still to keep the charm in the doorways and windows, upgrading the counter surfaces, backsplash, sink and appliances, maybe add an island if there's room.  if you do new cabinets, i'd recommend making them a little 'old world', rustic or perhaps Tuscan, depending on what you see or hear from other realtors or home pictures.

    I dont know too much about it, but the historical district recently had a tour of homes and perhaps there are some online pictures that you could take advantage of. 

    Have fun, & Good luck!

  • 03 Sep 2015 9:29 AM
    Reply # 3508788 on 3375042

    Update on this historic property; I was approached buy another investor that provided an offer that I could not refuse. I was really excited about this project and somewhat saddened that I will not be moving forward with the refurbishment. Thanks so much for your input!

    Steve    

  • 03 Sep 2015 10:31 AM
    Reply # 3508936 on 3375042
    Deleted user

    Gotta love when that happens... Congrats on the quick profit on this deal. It would have been fun to be creative with this property but i'm sure that you're glad to get in, get out, and have a quick pay day! Congrats again! 

    Brian R. Baker, MBA 

    Texas Housing Partners LLC / New England Housing Partners LLC 

    brian@texashousingpartners.com 

  • 04 Sep 2015 12:37 PM
    Reply # 3510738 on 3375042

    Steve, glad to hear it turned out. I live in Fairmount and I track the listed and non-listed properties here regularly. In the future as an FYI if you do anymore business in the neighborhood, the houses with the interior restored to the original style of the house generally sell before they hit MLS or have four to five offers on the first day. The only times they don't is when they are priced way above market rate (I've seen as high as $199/sqft when $130-140/sqft is the going rate). The new/completed gutted and made into a home like in the suburbs are on the market longer and will generally sell approximately $10/sqft less than the restored homes.

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