Reply to Buying $325k home on $100k HHI, for potential profit on sale in a few years (not in DC)

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Reply to "Buying $325k home on $100k HHI, for potential profit on sale in a few years (not in DC)"

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[quote=Anonymous]Unfortunately it's not the kind of renovation that would allow for much DIY. It's basically the (beautiful, historic) shell of a house that will need to be rebuilt in many ways. The $225k renovation budget (property being purchased for $100k) includes project management by a team I know and trust, including an architect who has a ton of experience with renovation and rebuilding of old houses.

Without being very modest, I do have great design sense, and have previously worked for a designer (although I am not one myself). I've also profited off of a home that we were able to sell for frankly more than it was worth, because buyers loved the updates we'd done, and probably honestly just the way we staged it. That was a house where I was able to DIY a ton, for very little money, and I even surprised myself by how well we came out ahead on that one. That probably emboldened me a bit to trust myself. I've also made all of the finish and design decisions for a friend's renovation, which came out really beautifully, and she's actually considering selling it now just because the aesthetic changes have made it worth substantially more than she bought and renovated it for. So I do trust myself as far as what to do with the house, but would leave the actual work to professionals, since it is an old house that needs basically everything. [/quote]

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