osborn, 2018
Bought this property on the MLS. This property was a unique project because the house’s furnace ducting was completely gone. We bought it not realizing that and had to pay more than we had planned for to install baseboard heating that would raise the electric price very high. When trying to rehab a house in the fall and winter you need heat so the paint dry’s etc. It took several weeks to get this installed to start work on the other aspects of the rehab. Another issue that came up was that the water was left on and in the pipes during the winter. After a very cold night a pipe burst on the second floor and water rushed out of the pipe for a few days damaging the ceiling and the hardwood floor. Due to these issues, we sold this property to break even instead of renting it out with the high electric costs. Looking back, we should have rented it out for a few years then sold it in order to make some kind of profit on the project.
