Two Project Houses – House #78 & House #79

Things have been busy for us and it seems like another month has gone by with me only making 1 blog post in April.

If you have followed the blog for a while, you know we love a good project house that other investors shy away from. In April, we ended up buying two “project houses.”

House #78 is a 2 bedroom 1 bathroom house built in the 1940’s that has no garage.  We are going to be doing an addition and adding a bedroom and bathroom with a two car garage.  The City Code Enforcement Department has an open case on this property and will be ensuring we do a good job on fixing this house up.

House #79 is even worse.  It was converted into three different living areas.  On title the house is 1,800 sq ft, but there probably is over 3,000 sq ft of living area that was added without permits.  This house had been in escrow 3 different times and the buyers could not close, we ended up getting an accepted contract for about 60% of list price.

Our original game plan was convert it to a duplex and resell it.  After discussing this with the City and Code Enforcement Officer we realized that the City wouldn’t be on-board for this plan as they want it to be a single family residence.  Our new game plan is to get as much space as we can permitted and sell it as a single family residence with a “granny living quarters”.

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5 Responses to “ Two Project Houses – House #78 & House #79 ”

  1. Mike Z says:

    Go to love project houses!!! Especially at 60% of list price

  2. Way to go Steve. I look forward to seeing how they come out.

    AG

  3. Sounds like you are going to have your hands full. I can’t wait to see what you do with these two houses. We usually don’t add rooms, but have thought about it several times.

    I like how one needs rooms added and the other has a lot of space that needs to be better defined. It will be fun to see the two different approaches.

  4. Alex Aguilar says:

    You guys should document the whole restoration process and post it on Youtube. This way people can see how it’s really done as opposed to the phony, staged, production-company financed renovation projects they show on TV.

  5. Hi Steve, how’s it going with these houses? Would love to see how they turned out.

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