We were approached by a landlord that had a rental property. He wanted to sell the property quickly to pursue a new business opportunity. However a tenant had trashed the property so badly that it would he would have to sell it as is at a steep discount or make very costly restorations first. He had neither the time nor the skills to complete the renovation. We arranged a fast sale, the seller go he cash, paid no commissions and Greenwell completed the renovations after closing.
Change of Use to Increase Value
This residential duplex was zoned in a area that allowed for child care centers as a permitted use. The investor sold another house and purchased this property (using a tax advantaged 1031 exchange). Next they added an addition and leased it to a child care center business. The investor benefited by purchasing the property at residential pricing and changing the use to collect higher commercial rents.
Pittsburgh Steelers come to Minnesota?
This is the before photo in a bathroom of a 1970's Coon Rapids home of a Pittsburgh Steeler's fan. The bathroom was dated, and the house was all decorated in Steelerblack and gold, which the owner loved, but most buyers would not. Greenwell complete the interior renovations, including this tub and tile resurfacing (see below).
The Steelers Leave town
(continued from above) The end result is that the Greenwell seller client successfully increasing the sale price by more than the cost of the improvements and profited on them. The downside was that she had to live with the more popular colors for a short time between renovation and when Greenwell Realty got it sold. This is an example of our Love IT of List IT program.
Accidental Landlord Makes Lemmonade
Greenwell Realty's clients lived in they unique home for years, but allowed it to fall into disrepair. They then had a change in family status which required a different sized home. Greenwell assisting in their acquisition of their next property. Then renovated this home so that it would attract a good tenant until our client is ready to sell it.
Buy, Rehab, Rent
Greenwell Realty represented an investor client that purchased this foreclosed home from the bank in poor condition. Before the purchase Greenwell provided the client with a rental cash flow analysis and a firm bid for the renovation. After closing Greenwell Home Improvement completed the renovations on time for the amount of the bid. The client has enjoyed property value appreciation and the expected cash flow for years since, and has repeated this model with other properties.
26 years selling and renovating Anoka County & surrounding area homes for home owners, buyers and investors