To find hidden treasures, look where no one else is looking.
In 2022, I found myself the owner of an abandoned home. The details below can be your preview of what such projects are like and how lucrative and strangely mispriced such assets can be.
One Mans Trash…
It all started when I got an alert on Trulia for a house in the area. The listing lacked photographs of note. There was just a short description.
I immediately called the real estate agent on the listing and said I was interested. The condition was terrible. Literal vines growing up across the walls. A washing machine sat outside along with a broken-down couch.
It wasn’t always in such bad condition. A little research showed what the house looked like just 10 years before:
The house also came with an acre of land and a storm cellar. I knew that I could sell the land for a profit worst-case.
I bought the house for a miniscule amount in cash. I quickly called some of my friends who had experience clearing land. I got them to immediately throw away garbage and work on the outside of the building. A whopping 50+ bags of garbage were quickly hauled away.
I relisted the house and nearly doubled my money immediately.
