On Friday, Mr. H and I closed on another foreclosed/HUD home. We paid ~$85k, we expect to spend ~$20k during the 2 months of rehab. A conservative selling price is $140k. Minus closing costs, we anticipate a profit of over $20k.
There’s 1800 square feet of living space (3-2-0), including the converted garage.
Our agent says, “It has good bones,” which seems to be Realtor-speak for “elbow grease will go a long way to turn this into a profit for you.”