February 10, 2020

We bought this house in the 7th Ward which contractors told us to tear down

We bought this house in New Orleans 7th Ward. The house had a lot of issues and the owner needed a certain amount of money that made us have to dig deep to make the deal work. While there were a lot of issues, the two main ones were the termite activity and the Stucco. The termites had been very active and had worked their way from the bottom of the house to the top floor and caused a lot of damage. The Stucco used on the exterior of the house was an even bigger issue as it had taken on moisture and was cracking and coming away from the wall. While stripping the Stucco and replacing isn’t a huge problem by itself, the issue is the wood root and termite activity that having all that moisture in the walls had caused.

The first contractors that we inspected the property with advised us that it would be much better just to tear down the property and build a new one. Our seller needed a certain amount of money though and if the house was a tear down we could only pay lot value which wouldn’t have worked for him. We have a huge network of contractors and rehabbers so went deeper into our network. We ended up partnering with another rehabber who had a solid plan to salvage some of the structure and make our numbers work.

This was an excellent outcome as our seller got what he wanted, we were able to save a house that had a rich history and we had a good project to work on with our partners.

If you have a house that you are thinking of selling in the Greater New Orleans area then we may be a good fit to buy it. We buy houses direct from homeowners for cash so you don’t need to make repairs or pay realtor commissions. We are easy to work with and even if we don’t end up buying your house we are still happy to talk about your options and help out your situation. If we end up being your buyers then you will have your house sold fast.

Project Update: We were able to save this house and repair it for new tenants. You can see the project update video here

We buy fire damaged houses like this
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We bought this Westbank house with a tenant in place in less than 2 weeks

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