5724 Dexters Mill Drive, Buford – $156,900

5724 Dexters Mill Drive, originally uploaded by jrumanes.

One of my Investors is actually interested in living in this house while he is rehabbing it. Homes in this neighborhood without basements are selling for around $185,000. This foreclosure has a basement (full, minus under the garage) and is fairly clean. Even the current paint colors are not that bad. The carpet needs to be replaced throughout. They previous owners were obviously very heavy smokers and likely to smoke in the Master Bedroom. The floorplan is nice and features 4 bedrooms (all upstairs) and 2.5 baths. The basement is studded for another bath.

Post rehab, depending on whether you decide to finished the basement or not, this house could sell for $199,900-$215,000.

Photo provided by Listing Agent via FMLS listing.

148 Belmont Lane, Lawrenceville – $87,900

148 Belmont Lane, originally uploaded by jrumanes.

I visited this home with an Investor client of mine this past weekend. This neighborhood is located not far from downtown Lawrenceville and it sells well. There are a lot of foreclosures that pop up in this neighborhood, but they move. They are either being occupied or rehabbed. This is a great price for someone interested in rehabbing the property! The house needs new carpet, tile floors, fresh paint, updated fixtures and faucets, possibly a sliding or french door from the kitchen/dining area to the backyard (currently there is not access to the backyard except from the side of the house) and the kitchen needs a remodel and new appliances.

Post rehab you could probably turn this house for $125,000.

Photo provided by Listing Agent via FMLS Listing

114 Olympic Place, Decatur – $180,000

114 Olympic Place, originally uploaded by jrumanes.

I visited this home this past weekend with an investor client of mine. It was originally built in 1930! The current owners have gutted the place and have plans available for what they see being done with it. It’s on a dead-end street, across the tracks (in a good way) and a short way from the Old Courthouse in downtown Decatur. It’s a great location, but with no walls to mute the sound, the train was pretty loud. Home that have been rehabbed or reconstructed on the street are going in the high $300’s to the $400’s. At this price anything can be done with the place and it will be awesome!

Photo provided by Listing Agent via the FMLS listing

2648 Tupelo Street, Atlanta (East Lake) – $250,000

2648 Tupelo Street, originally uploaded by jrumanes.

I showed this home to an Investor client of mine today. This area of East Lake is H-O-T! Lot’s of rehab, some new construction and homes are selling! This home, though is WAY overpriced! They are listing it as a potential short sale. But the market value on this house in its current condition is more like $170,000. Really a big difference. It has some potential, but needs a ridiculous amount of work! I’ll be calling the Listing Agent tomorrow to find out what the deal is.
It’s listed as a 3 bedroom, 2 bath but we looked and looked and couldn’t find the second bathroom. There has been ZERO updates to this house. The carpet is disgusting (original brown shag), the kitchen is way tiny and original. The lot is good. Like the rest of the neighborhood it’s narrow, but deep. There is a loft bedroom up some really steep stairs off the kitchen. My client liked it. He said it reminded him of his house back home growing up.

Photo provided by Listing Agent via the FMLS listing.

3935 Thornhill Drive, Lilburn – $158,900

3935 Thornhill Drive, originally uploaded by jrumanes.

I showed this property to an Investor client of mine this afternoon. I am pretty firmiliar with this area of Lilburn/Lawrenceville so I knew going in that this could be a good house for him. It’s located in the Brookwood School District which is great! The lot is almost 1/2 acre and it’s flat and totally usable. The house is in reasonably good shape considering that it’s a foreclosure. What was most amazing regarding the condition of the home was that the carpet only looked like it needed a good cleaning! There are 4 bedrooms and 2 and 1/2 baths…no basement. There is a great screened-in sunroom off the really big family room and an open-air deck space, as well. The kitchen needs to be gutted, there is obsurd wallpaper everywhere and they converted the 2-car side-entry garage into a bonus room/den with a bar??? The price is good, but could be better. There is only one other home in the neighborhood for sale. It is also a 2-story, but has a basement and is 3-sides brick. The kitchen in that one has been redone and it’s listed for around $225,000. I think that if the garage was converted back, the roof issue was resolved, the kitchen updated and the wallpaper removed, I would feel comfortable listing it at $194,900.

Photo provided by listing agent through FMLS listing.

2280 Abner Place, Atlanta – $134,900

2280 Abner Place, Atlanta, originally uploaded by jrumanes.

This home is located in the City of Atlanta, inside the Perimeter and just outside of the Smyrna border. It’s a great location for people working in Cobb County or downtown. There are 3 bedrooms and 1 bath. Everything inside has been rehabbed. There is new carpet, new paint inside and out, a new kitchen and bath and new light and plumbing fixtures. It features a full laundry room and a large separate, light-filled den off the kitchen. The lot is large and sits on a corner. The backyard is flat and private. The neighbors are very nice and the gentleman across the street has lived on the same street all his life. There is new construction all around the neighborhood priced in the $300’s. This is a GREAT house for an Investor looking to own the property and rent it out, as it’s totally ready to go!

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