Wednesday, July 8, 2009

Change in Plans

On the HUD home, I have changed plans. I spoke with the Real Estate company I deal with and the costs to re-hab would be too high.

Anything over $15,000 would be too much...

Saturday, July 4, 2009

Still Waiting on Closing

On June 16th I was the highest bidder on this property in Michigan. It went for $1000.00. The seller has the option of not taking the bid. So far the auction company has not heard either way.

The property is in fairly good shape.

Tuesday, June 30, 2009

Driving a Hard Bargain: HUD gets $300.00

It's a done deal, HUD accepted the offer.

I had to pay $300.00 dollars instead of the listed $200.00 for this one. Next step is fill out the appropriate paperwork and send the EMD and close.

After I close, I will be calling LOWES' Millwork and Flooring departments to get bids on the installation of windows and carpet for bedrooms.

Until July 17th, Lowes is offering basic installation on each window for $99.00.

I will be looking at Pella's vinyl Thermastar windows in the single hung with valance grids at the top. They will be filled with argon gas and have Pella's Sun Defense Low-E coating so the windows meet the federal energy tax credit.

For carpet, Lowes installs carpeting in the whole house for $139.00

I will be getting bids on electrical, plumbing and new shingles on the roof.

The type of carpet? To be decided. The carpeting will wait until work is done on the inside. But the windows can be done so that siding, sheet rock and painting can be completed.

Monday, June 29, 2009

A New Addition: $2500.00 and Waiting

I was highest bidder on the following property. The seller has the option of accepting or not accepting the auction bid. So we shall wait and see.

Friday, June 26, 2009

Change of Plans: A Fixer Upper for $200.00

I have changed gears on making a purchase. Originally I was looking at a fire damaged house, but the house below was on the market for $200.00 and is in a very nice part of Detroit.

The house is structurally sound, no sign of mold and needs a lot of fixing up. So pimp this foreclosure starts with this small 875 square foot one story house in Detroit Michigan.

What is amazing is the property taxes are about $3,000.00 per year. I consider that robbery.

Saturday, June 13, 2009

The Start of Pimping My Foreclosure: Detroit Michigan

Most know that Detroit Michigan, has fallen on hard times and as such there are bargains to be had in real estate in the Metro Detroit area.

In the last month I have been searching properties in Detroit and I have put two offers on property there.

One is a fire damaged house and another is on a condo. I will have more info with pictures if the closing process continues.

The one with fire damage will be the focus on this site until it is completed.

My buddy will be travelling from Alaska to Detroit Michigan and will video the trip and continue through the entire remodeling process.

So come back and hopefully you will be updated on the properties.