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Old 08-23-2019, 12:15 PM
 
Location: Forests of Maine
32,493 posts, read 52,888,037 times
Reputation: 22288

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245 Center St, Brewer, ME
3 bd , 1 ba, 1,124 sqft
$22,500

'as is' and oh my what a mess

https://www.zillow.com/homedetails/2...18136936_zpid/

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Old 08-23-2019, 01:20 PM
 
Location: North Alabama
1,176 posts, read 2,104,925 times
Reputation: 1290
What a deal! Y’all gonna try to flip that one?
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Old 08-23-2019, 01:46 PM
 
Location: Albany, NY
269 posts, read 165,243 times
Reputation: 735
Hoarders?
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Old 08-23-2019, 03:59 PM
 
Location: Gorham, Maine
1,926 posts, read 4,686,495 times
Reputation: 1394
Under contract in 2 days.
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Old 08-23-2019, 06:06 PM
 
Location: North Alabama
1,176 posts, read 2,104,925 times
Reputation: 1290
$20 a square foot is certainly a good start. Any more details WhoFanMe? Structurally sound?
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Old 08-23-2019, 08:59 PM
 
Location: Caribou, Me.
6,933 posts, read 4,802,066 times
Reputation: 5204
There is a hilarious Facebook page called “Terrible Real Estate Agent Photographs”......this house should be on there!
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Old 08-23-2019, 09:53 PM
 
Location: Forests of Maine
32,493 posts, read 52,888,037 times
Reputation: 22288
Quote:
Originally Posted by maineguy8888 View Post
There is a hilarious Facebook page called “Terrible Real Estate Agent Photographs”......this house should be on there!
omg, all the interior photos hurt my back. I could just see myself spending a weekend hauling all that shyte out to a dumpster, and how exhausted I would be.

A little bit of sheetrock, some paint, 100 man-hours with an electrician, 100 man-hours with a plumber, bring everything up to code, get the furnace serviced, pump out the septic. Make sure the roof has another 5 years. If you have done this a few times, you should have a rough idea already of how much such a project would take.

I have only ever gone for Multi-Family-Residences when I was working before I retired. I wanted a place to live and enough tenants to cover taxes, insurance, and mortgage note. So long as I got a place to live, it's monthly cashflow was enough to cover all expenses, my Dw got her tax-shelter for our taxes, and I could build-up some equity in the mortgage principal.

But, I have known a lot of 'flippers'. I always used to hate them. I understand the process. I dont like how short-sighted it is. My career all included combat pay, cash bonuses, and tax incentives. I needed to know that my portfolio was going to house my family and give some chance of a life for my family, assuming my imminent death.

Year after year.

... that was depressing.

Summer 'high'' temps have passed. Now we pass into Autumn.

??
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Old 08-25-2019, 08:19 AM
 
Location: Gorham, Maine
1,926 posts, read 4,686,495 times
Reputation: 1394
Quote:
Originally Posted by nalabama View Post
$20 a square foot is certainly a good start. Any more details WhoFanMe? Structurally sound?
I haven't seen it, I just looked it up on MLS and saw that it was under contract.
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Old 01-28-2020, 05:03 PM
 
3 posts, read 2,714 times
Reputation: 15
WOW! I have just shown this to my husband and told him that he's never allowed to complain about my clutter ever again after seeing that! Haha! What a dump!
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Old 01-29-2020, 09:29 AM
 
Location: Gorham, Maine
1,926 posts, read 4,686,495 times
Reputation: 1394
It closed on 11/29/19 for $20,000 after going under contract on 8/23/19. The joys of a short sale...
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