November 13, 2019
We bought this vacant, half rehabbed, termite infested house in New Orleans
When we say we buy houses in ANY condition we mean it. This house we bought in the 7th Ward of New Orleans had a number of issues. The property had been vacant for long time and was partially renovated by the owner. The problem is he was doing the project slowly and while we was trying his best to add value to the house, it was actually going down in value. People had broken in and stripped all the copper pipes from the property and taken the central heating unit. Believe or not there guests in the house even less welcomed than those thieves. You see there was significant termite activity and they were moving fast and causing lots of damage. There was also foundation issues, but that is pretty common in New Orleans houses.
But this sort of damage doesn’t bother us, because these are the sort of issues we fix all the time. We were able to pay the owner a cash price for the house that he was happy with it. We obviously bought it “As-Is” meaning the owner didn’t warrant anything about the house and it became our responsibility to repair all the issues. The owner had been trying to sell the house for awhile but was having trouble finding someone to buy his problem. These are the sorts of houses we like buying as it is a real win-win situation. The seller gets cash for a house that is really hard to sell and is able to leave all the stress and drama behind them. We are able to get a project that we can sink out teeth into and fix up a standard that a home owner would want to pay top dollar for it.
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