More equity created
We just had another offer accepted on a house for 64k. This home is in Lincoln CA. The goal now will be to put 46k into it and it should be worth 169k. That will come out to 59k of equity created. This project should be a very extensive project because we are going to tear down the original front half of the house. The back half of the house was added to the original house in 1991. The front half of the house is in very bad shape and is outdated.Once we create a whole new house with new hvac, siding, roof, kithcen, and bathroom, it will be like a new home. The first time homeowner who buys this house will get a new house at a $1100.0 per month payment. I just declared this is now a SELLERS MARKET IN THE SACRAMENTO CA AREA at another blog that I have. We should be able to sell this house very fast once the house is finished. If a person just finds four of these homes during the next 12 months, they will have created 236k of equity.
