2. Woodlawn, TN The seller was transferred out of state and did not want to rent the home out 3 bedroom, 2 bath, 1300 sq. ft. Ranch home with 1.5 acres Less than 5k in improvements in 1997 Rental property for 2 years Positive Investment
3. Cookeville, TN The seller had moved/transferred to Canada and was financially distressed 3 bedroom, 2 bath, 1800 sq. ft., Custom built home with 1 acre Less than 5k in improvements in 1998 Rental property for over 5 years Positive Investment
4. Hardin Valley, TN This was a security’s owned property when purchased 3 bedroom, 2 bath, 1600 sq. ft., Ranch, Condo Rental property for 6 years (Less than 1k in improvements 2001-2007) Rehabbed in 2008 (~20k), sold during a recession Positive Investment
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6. Karns, TN The previous slide was a government owned property This property had major foundational issues due to failure at the footers. The investigative research I conducted took two months prior to the purchase. The planning commission, codes department and three engineering firms were contacted and questioned by me. The answers warranted going forward with the investment. Piers and Anchors, Inc. performed the permanent repair to the foundation and the block walls were returned to original position. The footer was lifted by way of a system that utilizes the bedrock (25-200 ft.) below as well as piers and anchors that are constructed to last approximately 100 years. The results were impressive. The buyer was fully informed of the work that was performed and still lives in the home today. The remainder of the rehab went as scheduled with no major surprises. The house sold 1 month ahead of the target time frame and the rehab came in under budget. The house sold for full asking price and the buyer moved in with equity. Bought, rehabbed (major) in 2002 (~20k) and sold in less than 4 months Positive Investment
10. Completed Rehab This home had a squatter living in it for over 6 years. He collected garbage from dumpsters, that he thought of as treasure, and he gathered and stored the retrieved items in the home. The owner was placed into a nursing home in 2004 and her family member had Power-of-Attorney and sold me the home. 4 bedroom, 3 bath, 2000 sq. ft., split foyer Bought, rehabbed (major) in 2004 (~19k) and sold in less than 4 months Positive Investment
11. Cedar Bluff, TN Private Owner 4 bedroom, 3 bath, 3200 sq. ft., 2 story Victorian, 1 acre Rental property for 5 years (2001 – 2006) Rehabbed in 2006-2007 (~55k) Positive Investment
12. Clinton, TN The seller was moving and needed some immediate cash but not all of his equity from the sale of the home 4 bedroom, 3 bath, 2400 sq. ft. Basement Ranch, ¾ acre Rented back to seller for 3.5 months Bought, improved (less than 1k) and sold in less than 4 months in 2008 Positive Investment
13. This was a condemned property and was within 1 week of being bulldozed by the City of Knoxville in 2006
14. Sutherland Ave., TN This home was completely rebuilt inside with all new structural walls and flooring. The roof was salvaged and reinforced. All new windows and doors were installed and a new front porch and side deck. The home was in the city limits of Knoxville and permits and building codes inspections had to be conducted and approved for the structure, plumbing and electrical work. The entire rehab (~45k) including codes inspections took less than 3 months and the home sold in less than 60 days after completed. Positive Investment
15. This was a distressed property and the seller was near foreclosure
16. Pleasant Ridge, TN Completed Rehab 3 bedroom, 2 bath, 1350 sq. ft., 2 story home Bought, rehabbed (~9k), and sold in 42 days total in 2005 Positive Investment
17. Karns, TN 2 bedroom, 2 bath, 1000 sq. ft., Condo This was a bank owned property in 2006 The person that was foreclosed on gutted the entire kitchen and downstairs bath Rehabbed (~7k) Rented for 1 year Positive Investment
18. West Knoxville, TN 3 bedroom, 2.5 bath, 2200 sq. ft., Basement Ranch The home and the seller were distressed. The mother had let her daughter live in this home for 6 years and the rehab was overwhelming for her after they had a falling out and the daughter moved out. The home backed up to I-40 and the road/car/truck noise was very loud and not a very good view. Bought, rehabbed (~10k) and sold in less than 75 days Positive Investment
19. West Knoxville, TN 4 bedroom, 3 bath, 2800 sq. ft. split foyer with 1 acre This home was distressed and the sellers were going through a divorce. The sellers’ mortgage had a $4500 penalty for early payoff up to the 36th month of the mortgage. The wife had already moved out and the husband could not afford the payments. I took over their mortgage payment, improved the home (~9k) and rented it out for 10 months. The home sold in June of 2007, one week after the penalty went away and their mortgage was paid off. Positive Investment
20. West Knoxville, TN 3 bedroom, 2.5 bath, 1900 sq. ft., Cape Cod with 1 acre This home was 16 years old and had had no improvements and was not well taken care of. The ceiling in the living room had caved in due to the primary HVAC trunk not having been insulated (this occurred more than once during the time the seller owned the home). The seller was having a new home built and it was almost complete when I was looking at the home next door. Bought, rehabbed (~20k) and sold in 60 days total in 2005 Positive Investment