Houses / perhaps rent to own / customize

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1

I have one completed house for sale and one we hanvt started that we can customize.
I own a company called Xtreme Makeover LLC, and we generally buy homes and customize them for a buyer.Its a way a buyer that cant afford to build a new house to get what they want in an existing home, without having to rehab it themselves…which can be costly and not part of the mortgage.

What we can offer is unique… we buy the house and youchoose everything…countertops, cabinets, flooring, carpets…everything … some people choose to have us do part of the house with intentions to finish the rest themselves.

We recently did one for the family that owns the Van Dyke and Pinhead Susans, and have other references as needed. This is a great opportunity because we operate on very thin margins and can literally do the upgrades at a fraction of hiring a contractor… this keeps our subs and workers busy and we generally only tack on a minimal profit (10k for small homes… up to 25k for large) to the complete cost of the house and upgrades.

What our customers often end up with is an issue free home that easily appraises and is far superior to buying a home with unknown hidden issues. On top of that the home is generally a very good deal, custom to what is desired and comes with after the sale assistance as needed.

For homes that are completed and ready for sale to the general public, we often just offer a quality house at a very good price.

Currently I have a large single family near the central park rose garden in schenectady, not far off upper union st (Niskayuna). Newer siding, windows, roof…2 car garage with work benches and many outlets. all redone interior for the most part… hardwoods everywhere… three enclosed porches, 3 bedrooms, 1 full bath, 1 3/4 bath (off older basement bar room) and a brand new 1/2 bath. Brick fireplace and granite tile counters in a huge kitchen. The attic was finished in the 70’s and stillhas paneling and the shag rug…but clean and big.
Not a huge yard, but big enough for a small dog and gatherings. Lot size might be 50x150?
The home is very clean and has a younger heating system as well.

New price… $ 118,000 !!! Free 50" TV with purchase

The other home is 3 bedroom 1.5 bath in coldbrook…a nice large rotterdam neighborhood. Very good sized fenced yard and oversized one car garage. This home is ready for updating and you can choose how… Price as is is lowest in the neighborhood… $112,000 ----nicely appointed for 125k…custom range from 120-135 or so… still cheaper than stuff in that hood in stock form. Nice dated shape as is…new heat.

We do this for $ and fun, but not to make a living… this is a hard to beat opportunity for turn key living…

There are potnetial rent to own options or partial financing on the completed homes.

2

Any pics of the places?

3

Ill grab some soon and post them

4

Ok cool. If you guys are still doing this in the spring time I very well may have you guys set something up for me. Ill PM ya later with more details.

5

Been doing it for years, and will always offer the customizing…now we havealso moved in to multi families. have a 4 unit that will be for sale with a post sale monthly profit of over 700… and can get in with very little money.

Heres a shitty picture of the one ready for a makeover…

6

jammer get a hold on kenny, this sounds like it’s exactly what he’s looking for as well as in the price and location he wants

offroadzj

7

I’ve known the owner of this house all of my life. My Grandmother lives next door.

8

Who killed kenny… dont know him bro/// i did pm offroad if thats him

9

Gramma is cool shit then bro! She offered cookies n shit. She thinks skiboard06 is moving in tho… I think I told her I was gay and he was my man… I love seeing older traditional people get lockjaw. None the less,she still offered cookies.

10

yea thats kenny, it might work for him

11

hahahahha She is the one on the corner lot with the silver scion tc. She is awesome!

12

Jay, me and my fiance are very interested in the “rent to own” program

could you send me a PM or even just post more details on how that exactly works? We were looking to get into a cheaper starter home (mid 100k) this year but we decided to put it on hold until after the wedding (sep. 2011) but this whole rent to own thing strikes our interest not to mention your houses are in our budget.

13

Haha… that house that you have finished is one that we actually were looking into. It had almost everything we wanted but due to it being in Schenectady, the taxes put it over what we could do so we had to put it on the back burner for now. Def. a great looking house (from pics and just driving by). Talk about coincidence… lol.

14

Thats ironic!
Yes, the sch taxes are too high… the current taxes are being greived as the home is assessed way higher than sale / asking price… we are good at the adjustments now, but it takes time. range.

Thats Sch for ya… pay a lot less for more house, but the monthly isnt alot different due to the tax basis.This house in Colonie may sell for 50% more, but the takes would be a good bit less.

15

Its all negotiable, but generally works like this:
to use round numbers, lets say rent is $1100… each month maybe $300 goes toward down payment (thus making actual rent amount of 800)…after 2 years you may be ready to finance and purchase it and there is $7200 waiting as the downpayment. The benefit comes in not just forced savings, but you begin ownership and can actually put time and money in it knowing its yours.

It also often means the rent was lower than market value to a degree during the time frame.You dont have some expenses like Insurance and taxes on your back and if you and the lady split, or times get rough, you dont have a mortgage over your head. Often times a deposit /downpayment of some amount is collected and put toward eventual purchase.

The only potential loss is if you decide not to buy you may have then payed slightly elevated rent…the bonus being you know the house very well… and if you found significant concerns, in condition,locaation, traffis, etc… its cheaper to walk than buy and repair sometimes or be discontent. Thats the jist.
For some people, we can offer possible private financing/we hold mortgage, with a good downpayment as well, and skip the whole rent to own deal.

Many people that do this want their own house, and to build credit, but are nervous or cutting it too thin to be able too, or comfortable enough, to buy now.

16

good shittt

17

do you have some pics of the garage for the colonie one? I really want at least a 2 car garage but if the single is large enough to be able to fit workbenches/tool boxes, my bike, and still have room to easily work on a car then its something I would think about.

18

Keep this one going J. Wife and I will be looking for the service in the near future :wink:

19

very interesting concept. I maybe interested in trying to work something out with you on a multifamily come spring time.

20

damn this would have been perfect for us.