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Old 05-08-2007, 07:33 PM   #1
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Hey guys, could possibly buy this property, but stuck on what to do with this porch.. Need to figure this out, for numbers purposes..

A. Tear it down, and rebuild as it is already layed out
B. Tear off roof, put up awning and redo the floor
C. tear off roof, redo floor, and put up a little awning over door

Im not sure here.. Looking to increase value, and still make it usable, nice sitting area, or just a porch.. What do you think the cost to duplicate this would be? What would be the most cost eff. solution? What would be desired by the wife, ?


Thanks folks, you got so much helpfull info, this is always my first stop, AND last..

Good Day


This is to be flipped..



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Old 05-08-2007, 08:01 PM   #2
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Burn the place down and start over?

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Old 05-08-2007, 09:10 PM   #3
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Originally Posted by robertcdf View Post
Burn the place down and start over?

You think it's that bad?

The inside is a beauty,


But all I see is $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$!!
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Old 05-08-2007, 09:57 PM   #4
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I think even with the good photos you have provided, it is still a bit difficult to say. From the looks of it and because you want to flip it, I say just replace damaged wood, make sure it's flashed and paint it.
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Old 05-08-2007, 10:48 PM   #5
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I would say just spiff it up a bit. it looks like from the outside of the hosue that it needs more help then just the portch the outside of the house and the awning above the portch seem to be in pretty bad shape....

I guess it all depends on what you plan to do. live in it... or if you plan to sell it. If you plan to live in it i would say let your wife deside then you can never be wrong ROFL.....
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I ditched the old project and desided to buy a new house. i am still working on closing in but look its so pretty! Good bye indiana! Texas i am coming home! http://picasaweb.google.com/lcdallas/StonecrestMar2007?authkey=uBdQZFC_Fnw
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Old 05-09-2007, 09:10 AM   #6
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Just by your pics, there is a lot of work that will need to be done on that home.
Did you check for any Asbestos materials on or in it?
That could = $$$$$+

The windows need to be replaced, the roof, the 'siding' too, the walkway....and that is just what can be seen from the two pictures.
If you had inherited the home, then its worth it.

BTW - The porch.....looks like a mess, just by viewing the fascia....'or lack there of'.....you should just tear it down....or don't even purchase the house unless the purchase price is below $50K....
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Old 05-09-2007, 10:29 AM   #7
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Ok, I'm hearing ya guys...

I do plan on getting this, very very cheap, because it is pretty bad.. I do have my numbers, and if I cant get it for my price, I'll just move on.. If they do take my offer, I can make some good profits here.. I would love to give you a " ballpark figure " of price, but NAAAAAA, .. We all know why... OK, looking at 4 figures... I'm in GA,

This is the only home on the street that is in this type shape, and there are 4 other homes that just put on new siding, so the area is on a come up.. I'll know more today about my offer, so I'll let ya know...

The door off the porch is acc. a bed room, it has a wierd floor plan, where it could have 3 living rooms, LOL..

So, I'm not sure yet.. I have good plans, but again, butting heads with my partner on updates and flow of the floor plan..

AHHHHH fun, fun, fun..

Thanks guys, keep them comin..

Last edited by ImFlippinCrazy; 05-09-2007 at 10:32 AM.
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Old 05-09-2007, 11:08 AM   #8
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Quote:
Originally Posted by ImFlippinCrazy View Post
So, I'm not sure yet.. I have good plans, but again, butting heads with my partner on updates and flow of the floor plan..

AHHHHH fun, fun, fun..
That sounds familiar; except my partner is my wife and we have to live in it.
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Last edited by Clutchcargo; 05-09-2007 at 11:09 AM. Reason: spelling
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Old 05-09-2007, 01:03 PM   #9
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four figure?... that's not enough to buy a parking spot in my Dad's condo...
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Old 05-09-2007, 01:07 PM   #10
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Quote:
Originally Posted by ImFlippinCrazy View Post
OK, looking at 4 figures... I'm in GA,

Hmmm, flipping old beat up houses in Georgia? You're not from that show on HGTV - "flip that house" are you?
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Old 05-09-2007, 01:22 PM   #11
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four figures????????????????

My yearly property taxes are FIVE figures......................
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Old 05-09-2007, 02:56 PM   #12
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.....how about you come to Toronto, and flip one house here, and you will be set for life...........
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Old 05-10-2007, 09:21 AM   #13
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Really, or is that a joke Yummy? That was my first offer. He came back higher, of course.. The investor came back, 50% under current value.. Right now, I am comtiplating another price, to get him back at.. Im close to getting this.. So, he came at me with a offer of 75% under current comps...

what to do, what to do.. The foundation needs repointed, so I was trying to get him to complete that before closing, but he wants nothing to do with the property, so he is motivated to sell..
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Old 05-10-2007, 09:25 AM   #14
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I think you should think for the worse: demolish the house and build a new one on the land plus what you paid to be your final cost... compare that with a new house in the neighbourhood... see if you make money.... if you do, go for it... otherwise... you really have to think more carefully.... sometime fixing problem house cost more to build a new one...
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Old 05-10-2007, 09:52 AM   #15
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I wish it was a joke!!!!!!

No joke, my property taxes per year are $10,095.00.

I agree with kui****g. You have to estimate what the house could possibly sell for once you have fixed it. And the amount of money you are going to put in it. Based on what else has sold in the neighbourhood that would be similar to yours. Remember location, location, location......


Otherwise, forget it, and come to Toronto, and do some "flippin" here.
There are properties to be had right here in my neighbourhood.

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