Thursday, March 17, 2016

House Hunting

When it comes to olden day houses, I am a sucker for them!


This house, located in Wanatah, Indiana, is a good candidate for a fixer upper/flip.  It's supposed to be vacant, but clearly "someone" has moved in!


The house is currently connected to city water and sewer, even though the old cistern remains in place.


Clearly some tuck pointing is in order.


The partial crawl space was dry.


The small back porch had a invigorating feel to it as the sun shinned in!


It was set up as the laundry area.


The basement stairwell was nice and bright!


The large kitchen has potential.


Some upgrades, like brand new countertops, had been put in place.


Several of the appliances were fairly new as well. 


I was definitely able to picture this being one fabulous kitchen when I got through with it!


The bathroom had a leak in the ceiling, which I found somewhat disturbing.


Throughout the house, the old plaster was falling off the walls.  I am eager to try a new product that restores old plaster!


Another issue regarding this house is the floors are uneven due to settling over time.  I, personally, find it charming, but the general market tends to prefer the boring, even, walking surfaces.


I did enjoy seeing some remaining unpainted trim, which I find charming too.


The basement didn't have anything that I wasn't willing to deal with.


I can fix that!


Plus, it comes with a chance to use the Sawsall and make feeding bins for farm animals out of the old tanks!


The upper floor was in fairly good shape.  It even had some new windows!


And attic access, which I have not been in yet!


I wasn't crazy about all the old lathe and plaster, but it's nothing I've not worked on before.


The drop ceiling will have to go.  I am a fan of the olden day, high ceilings.


The outside needed a fresh coat of paint.


The backyard is big. Behind the house is a park and creek.  I could see the old shed being restored, with some paint and a few new boards.


The inside of the shed didn't look all that bad.


It was full of junk, but at least it had what appears to be, fairly new electric.


If the Wanatah house remains on the market, I may make an offer.  It does have potential to be my next big project.  In the meantime, I have experienced my first Tax Certificate Auction.  Prior to the day of the auction, Mom and I went for a drive to scope out some of the properties up for bid. 


The dirt road lead us to an abandoned farm. 


I really liked this property, and the fact that it came with 5 acres of land!  When it came time to bid on it I did!  I didn't win the bid though.  :-(  It went for way beyond what my budget was.


However, I did win 2 bids at the auction!!!  This place being one of them:


It's not all that bad of a little house and lot in town!


The yard is plenty roomy.  Of course, we're not supposed to go inside the houses.  Not unless you happen to be selling Avon or Tupperware!  ;-)  JK  I haven't seen the inside yet.



The way it works is I must wait for 120 days from the date of the certificate sale.  During which time, the property may be redeemed, which means the current owners have a last opportunity to get caught up on the taxes.  If that happens, then I get my initial investment, plus interest, back.  If that time passes and they do not pay, then I can ask the county judge to deem the property to me.  There's a bit more to it than that, concerning notifications and oddball liens, but that pretty much sums it up in a nutshell.  Luckily for me, I found a lawyer who is willing to mentor me through the process.

I could tell from the smoke coming out the chimney that the house is currently being lived in.  Also, a very large amount of back taxes is owed, so it is unlikely this property will be redeemed.  Come this summer, I will most likely have this place as my next project.  The other bid property I won is a non-habitable, dilapidated, house close to where I live.  I anticipate cleaning it up and selling it as a buildable home site.  I find this process to be an exciting learning experience, and fingers crossed, hopefully a profitable one!  :-)

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