A local wholesaler had found this property through door-knocking and needed help getting under contract correctly and running title. There were many problems from, surveys to inherency issues. The parents had passed away and left the 7 kids to fight amongst themselves. With 1 of them dead and another one in jail, it made it a little more complicated than usual. We still got it resolved.
The afterward the wholesaler was willing to walk away for $20K. We decided to run our numbers on the property which is located in an up and coming neighborhood of Denver Heights in downtown San Antonio.
We reached out to a close friend and investor who has a ton of experience rehabbing in these areas and he was nice enough to share his contractor with us. After walking the full property with the contractor they gave us a bid for $135K. With ARVs in the $280K range, we felt comfortable enough to proceed.
We bought it for $60k paying the wholesaler $17K.
The demo started off fine. But as soon as they need to start rebuilding, boy-o-boy that's when the problems started.
Long story short, we fired them and brought on new contractors. Our $135K budget went up to $185K!
The house was originally around 700sqft and we made it 1600sqft 3/2.
The back unit was completely remodeled and we re-oriented the entry door to the right of the house.
✅ Concrete countertops
✅ Reused shiplap on the living room ceiling and office wall
✅ Taller windows in the front of the house
✅ Window over the master shower
✅ Windows high up in the living room and kitchen to avoid looking at the neighbors
✅ Repurposed dresser as master bath vanity.
✅ Privacy fence all around.
✅ New landscaping
✅ Private entrance to back house for rental potential
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Any questions email jon@prymehomes.com
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