{"id":18491,"date":"2021-09-21T07:34:36","date_gmt":"2021-09-21T14:34:36","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=18491"},"modified":"2021-09-21T07:34:36","modified_gmt":"2021-09-21T14:34:36","slug":"overnight-news-theres-no-guarantee-with-people-but-for-houses-rehab-is-redemption","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18491\/overnight-news-theres-no-guarantee-with-people-but-for-houses-rehab-is-redemption\/","title":{"rendered":"Overnight News: There\u2019s no guarantee with people, but for houses, rehab is redemption."},"content":{"rendered":"

\"Ya

\u201cHome is where the heart is. That\u2019s it \u2013 but that\u2019s\u00a0everything.\u201d<\/p><\/div>I’m finishing a rehab-from-hell right now, and the owner reminded me that we had done another one, seven or eight years ago. But neither of those compare to the worst house we ever worked on \u2013 the worst house we ever redeemed.<\/p>\n

True fact: Things are either adequate or they are not. If you replace or repair the inadequate things, the home is adequate \u2013 turnkey livable. If you can work a little “wow factor” into the budget, so much the better. You cannot lawfully rent an inadequate home, but you can sell one \u2013 at a discount. To sell a home at its highest attainable price, you must deliver a turnkey value \u2013 the more move-in-ready, the better. That’s the bad news. The good news is that rehab done right nets out to a profit at Close of Escrow: You will sell for more than it cost you to get there.<\/p>\n

So here’s a house I’m not in love with in the first place: We’re buying trashed foreclosures at the bottom of the market to rehab and hold as rental properties. It’s four bedrooms, and I like three bedroom homes as rentals, plus this home faces East\/West, thought to be bad for exposure to sunlight so penalized on resale. I helped investors buy a lot of houses in the collapse, but this is the only East\/West house we bought.<\/p>\n

But here’s the prize that sold the house: When they abandoned the property, the former owners left their two Rottweilers behind. The dogs had food, and they were rescued alive. But you would not believe the stench in this home. It made it unsalable \u2013 which made it catnip to us. If you want to buy cheap, buy what no one else wants.<\/p>\n

So we rehabbed an 1800sf doghouse with all the windows and doors open \u2013 in the middle of a brisk-enough Arizona Winter. Carpets out and bleach the slab. Kilz brand primer. Kilz brand paint. New carpets, new counters, new blinds. And just like that, a steady rental for a Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cHome is where the heart is. That\u2019s it \u2013 but that\u2019s\u00a0everything.\u201dI’m finishing a rehab-from-hell right now, and the owner reminded me that we had done another one, seven or eight years ago. But neither of those compare to the worst house we ever worked on \u2013 the worst house we ever redeemed. True fact: Things […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,26,6,5],"tags":[],"class_list":{"0":"post-18491","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-lending","8":"category-marketing","9":"category-real-estate","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3282,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3282\/casual-friday-caption-this-photo\/","url_meta":{"origin":18491,"position":0},"title":"Casual Friday: Caption this photo","author":"Greg Swann","date":"June 27, 2008","format":false,"excerpt":"My entry: \"Because I happen to like Argyle socks, that's why!\"","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3822,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3822\/caption-this-photo-president-bush-at-the-olympics\/","url_meta":{"origin":18491,"position":1},"title":"Caption this photo: President Bush at the Olympics","author":"Greg Swann","date":"August 9, 2008","format":false,"excerpt":"My entry: \"A gentleman always makes eye-contact.\"","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1103,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1103\/market-today-should-dictate-price-of-home\/","url_meta":{"origin":18491,"position":2},"title":"Market today should dictate price of home","author":"Greg Swann","date":"March 2, 2007","format":false,"excerpt":"This is me in today's Arizona Republic (permanent link): \u00a0Market today should dictate price of home How much effort should you put into listing your home for sale? After the past 15 months, that's almost a silly question. There are more than 40,000 homes for sale in Maricopa County, with\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8385,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8385\/caption-me-this-magnum\/","url_meta":{"origin":18491,"position":3},"title":"Caption Me This Magnum","author":"Brian Brady","date":"May 13, 2009","format":false,"excerpt":"My vote?\u00a0 \"Who let Higgins in to your closet, Thomas? \" Sometimes, you just gotta have a sense of humor.","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3289,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3289\/shout-out-a-toast-to-life-abundant-and-caption-this-photo\/","url_meta":{"origin":18491,"position":4},"title":"Shout out a toast to life abundant — and caption this photo","author":"Greg Swann","date":"June 28, 2008","format":false,"excerpt":"Sez me: \"Bill Gates stole this facial expression from me and I want it back!\"","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14685,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14685\/caption-obama-before-his-face-freezes-like-that\/","url_meta":{"origin":18491,"position":5},"title":"Caption Obama — before his face freezes like that.","author":"Greg Swann","date":"June 15, 2011","format":false,"excerpt":"My vote: \"I don't get it. This stunt always used to work with my Gammy.\"","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=18491"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18491\/revisions"}],"predecessor-version":[{"id":18493,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18491\/revisions\/18493"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=18491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=18491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=18491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}