Mastering Real Estate

Episode 12 - Project #6 - Moldy Basements

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Deal Details

  • Address: 4770 Elfreth Johnson Drive, Birmingham AL 35215
  • Type: Flip
  • Year Built: 1974
  • SF: 1,080
  • Mix: 3/2 (Converted to 4/2)
  • Year: 2019
  • Timeline: 5 months
  • Project Cost: $50,000
    • Purchase Price: $58,047
    • Rehab: $1,438
    • Sales Price: $80,000
    • Profit: $20,515
    • Before Photos
    • After Photos
    • Video Tour

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      Beware of Basements

      • Before buying a house with a basement, do the following: 
        • Get it moisture-tested
        • Talk to local contractors about common issues with basements and have an idea of common repair costs

          •  

          Don’t Partner with Contractors

          • Usually doesn’t work
          • Keep the relationship simple (trust me)

            •  

            Key Takeaways:

            1. Be careful of buying houses with basements
            2. Don’t partner with contractors

              3.  

              Episode Resources: 

              • Slideshow Link
              • Before Photos
              • After Photos
              • Video Tour

                •  

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