Hey, this is Bret Arrington, AIP House Buyers here in Greensboro, North Carolina. Let me walk you through this house we bought. It’s in Irving Park, pretty nice area. Actually, a really nice area in Greensboro, very desirable. We’re going to rehab this house. Worked on getting this house for a year, purchased it Sub2 and actually only paid $12,883.54 to get this house. Obviously I got more tied up in it than that, but that’s what we bought it with, subject to. Worked on getting this property for a year. I’m going to take you through it real quick.
It’s five bedrooms, three baths. We already started the rehab. Tell you a little bit about it. The guy went through a divorce, ended up getting the house and his family grew up, kids and everything grew up in this house so they had a lot of memories in it and he just wanted it gone. So I guess they negotiated for a year and finally, a month or so ago we picked it up subject to, so that’s picking it up subject to the existing loan and I paid him a little bit.
So if you take a look, we’ve already started gutting the bathrooms, started a lot of work in here cleaning stuff out. Had a little foundation problem I knew about, which we fixed, and we’re just going through the whole house. House has probably got an ARV of 425. We are going to refinish all the floors, of course paint. Everything will look fresh and new.
This room was the family room. The kitchen was over here. They had a big laundry room right out here, came all the way out, as you can see. Took up a lot of space. The kitchen was terribly small. So we gutted that, got rid of that. Going to make the kitchen come way out here. What we had is a storage room out here, actually outside, and we took half of it, made it a laundry room on the inside. So we’re going to have everything in there, the laundry room, dryer, all that, some cabinets up there, which free up all this room.
Got a little sunroom-like thing here, connects a whole other addition. Here is the garage. You see what I’m left with, a lot of stuff we’re working on getting out. Take you upstairs. You got two more bedrooms and a bath up here, this whole addition, which is actually really cool. We’re going to start work on that this week, clean all this out. There’s your bath. This area is actually in really good shape, just needs some cosmetic work.
Got the deck out here, backyard, roof’s all good. We’ve already cleaned out some stuff out of the backyard. Really nice house. A little under 3,000 square feet. Like I say, it’s going to be really nice. We opened up this doorway here. There was a window here, because this, if you look, was outside at one point in time and so we’re going to box all that in, put tile in here, make this just like a finished room. It’s already got heat and air. Just kind of have a flow through here, and it’ll be really nice.
Take you out here. This is the driveway coming back here, coming into where we just were right there. Here’s the storage room. It was a pretty big storage room, but really too big. So what we did is made it a little smaller. We’ll finish all that up. That’s how we made room for the washer and dryer.
So like I said, we’ve purchased this with a little money out of our pocket, $400,000+ house, do a nice little rehab on it. Like I say, if you can purchase property subject to, saving a little money out of your pocket, we make the payments. And also while we’re making payments, it’s paying down the principle of what I assumed from him. So it’s a good deal all around and we should be through with it, I don’t know, probably on the market in a month, month and a half or something, maybe not that long, but it’s kind of slower here around the holidays. But anyways, if you got a house you want to sell or you want to learn about selling houses, give me a call, text, hit me up, whatever, AIP House Buyers, also Arrington Investment Properties here in Greensboro, North Carolina, (336) 707-5223. Or you can email at aiphousebuyers@gmail.com.
3403 Round Hill Rd Greensboro, NC. 27408