Monday, April 19, 2010

Getting Started - 3324 Zuni

There are many different techniques for finding a house that would be good to renovate. If this is your first project it would be advised to find a Realtor that specializes in investment properties.

We look for houses that are in hot areas, your real estate agent can help you find areas that are up and coming or already hot. We focus on Highlands, Sunny Side and Curtis park in Denver.

“You want a house that everyone else wants. I look for something that is about to go on the market or just got on the market not something that has been sitting for weeks or even longer, no one wants these houses for a reason…” Wayne Leland.

The house we just purchased is 3324 Zuni which is in the Highlands area of Denver. This house was bank owned and a really good deal which means a lot of people wanted it. While Wayne and I were looking at the property three other real estate agents came by with clients to walk through it.

Once the property hit MLS, there were 22 offers in 72 hours. This is when having a good Realtor is key. They will advise you on what the house is worth and you should have decided the most you are willing to pay for the property. Since this property had so much interest the bank asked for everyone to submit their best and final offer.

So why did we buy this house? The main draw to this house is location. It is in a neighborhood that is really hot right now and its only a block from restaurants, shops, ect. When looking at a house its really important to look just at the ‘bones’ of the house. Everything else can be changed but you want to start with a good base.








Living/Dinning Room__Basement








Kitchen









Backyard_______Master Bathroom








Built-in (entrance to kitchen)

Many houses that we redo need a lot of cleaning, which can be really disgusting. There was one house that had no water so there were buckets of feces, try to look past anything like that. Zuni needed little cleaning but has a few odd flowing rooms which I will go over in another blog entry.










Dirty windows____Painted/dirty hard ware








Outdated & Water damage

In summary there are two main things that we look for, location and ‘bones’ of the house. Its takes some practice to look at a trashed house and see the potential of what it can become.

My next blog will go over all the things that we do within the first week of owning a house. So until next time, happy renovating!

No comments:

Post a Comment