Renovation of My Foreclosure Property

If I were able to acquire $150,000 in cash in order to repair and revamp a distressed real estate foreclosure, I believe that I would be able to update and renovate the house up in a manner that would increase the value of the property tenfold. I have been blessed to be born into a family that has inherent knowledge about how to repair and what to do. My father is a sculptor and owns multiple tools and machines that I would be able to rent at a much lower rate than those from a hardware store such as Home Depot or Lowe’s. My mother is a broker that would be able to inform me of what inspectors to turn to for advice, and she would also be able to help me in order to get the best results for the least amount of money. My oldest brother has been an apprentice to my father ever since I could remember. He has traveled with my father to foreign countries to help with my father’s art installations and has also taken up sculpting on his own. Both my father and brother have taken welding classes and have that in addition to the vast construction knowledge my father began his career on. My other brother has worked for my father as well, in addition to working full time at a hardware store as a manager, and now has begun being a handy man for a few duplexes and has been able to start and complete small scale renovation projects that have come his way.

To begin the renovation of my foreclosure property, I would begin with a full inspection of the property to correctly asses the ultimate needs of the property as well as other cosmetic fixes that I could possibly be able to correct. After having the invasive inspection done, I would then sit down with my renovation team in order to break down what needs to happen first. Luckily, I have two bro...

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... go to home depot and look in the clearance paint sections because many people like to return paints and I would be able to purchase them for 1/3 the cost of purchasing paint brand new. I wouldn’t be able to buy paint in excess amounts but that would be able to cover the bathrooms in the least, and possibly the kitchen. I would paint the rooms myself to try and cut costs from hiring painters. I have been painting since I could remember, and have been on construction sites and therefore understand all of the steps to properly painting a home. I believe the most time consuming part of the renovation would be getting the yards up to par and as green as I would like it to be. With all of this in mind, I believe that the renovation would be able to be done in a month and a half, if everything goes according to plan and nothing is delayed because of mail or travel time.