Buying Inherited Property

Wenner Story
Video Transcription

Speaker 1: Hi guys, it’s Bob the flipper. Hey, I’m over here in Brunswick, Maryland this morning and we’re at a house that we’re putting the finishing touches on and I’m making a video for two reasons. One, to show you around in case you’re an aspiring house flipper and you want to pick up some tips on how to renovate a property. And two, to tell you the story on this house in the event that you have a house that’s in a similar situation or you know somebody who does.

So let’s start with the situation. Okay, so this property we bought from a nice couple in their 60s who inherited the house. I think it was their mom’s house and it hadn’t been updated in some time and had some deferred maintenance. While it was very much livable … we’ve got a little music happening here. So anyway, the property needed a little bit of renovation. Basically it had green and yellow walls and shag carpeting. So what we did was … turn on some lights here. We redid the flooring with nice laminate flooring and we painted the existing cabinets because they were really nice wood cabinets. We put in new appliances, some new light fixtures, and some granite countertops. The buyers today like stainless appliances and granite countertops.

So this now sat as a half bathroom, nice floors. Put in new carpeting.

All right, I couldn’t figure out how to turn that off. We are painting the bathroom. So we had some blue tile in this house, which we’ve painted to white.

Okay. So basically this property needed a nice update with flooring, bathroom updates, and kitchen updates. So the house when we bought it was in that condition and needed some repairs. Right? And the folks that owned it really didn’t have the time or money to put into renovating the house. So they sold it to us and it’s as is condition for cash and it worked out for the sellers and it should work out for us. And someone will have a newly updated house here very soon. So if you know someone who has a property that’s in that type of condition, please reach out to us on our webpage and fill out the quick response form and we’ll be in touch with you soon. Thank you.

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