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jessica_latten87

No front yard. Buy or pass?

4 years ago

I am thinking of buying these two houses. However, when I looked deeper into it, I noticed that neither of them has front yards and they are situated at a busy intersection. I would plan on living in one and my dad living in the other while we flip them to sell for a profit. This would be the first property I owned. Planning on seeing them Friday. Do you think anything could be done to fix the curb appeal? If so, could you share suggestions? Or. do you think I should just pass on these?




Comments (28)

  • 4 years ago

    I looked at the pictures and they need a lot of work x's 2, but what I didn't see was a Property Identification numbers (PID). If these houses are built on one lot platted with the city the lot would need to be subdivided to sell just one house, so you would need to know if the lot could qualify to be subdivided. Alabama is a "buyer beware" state and the seller has no duty to tell you anything about the property, and you're responsible to do the research.

    So go to the city and find out if the houses have one PID number or a separate PID for each house. If they're separate properties you're buying and closing on two properties, if on the same lot your closing on just one.

  • 4 years ago

    Is there even a driveway? Car appears parked in the yard.

    Jessica Latten thanked shari13
  • 4 years ago

    It appears they were each two-family residences, converted to single. Maybe the disused porches could be demo'ed and used for yard. Were these public housing at some point?


    Be very clear about your costs, as they could be significant.

    Jessica Latten thanked latifolia
  • 4 years ago

    Were these mine, and a healthy budget, I’d seriously consider moving the front doors of both to the sides facing each other, along with a wall or fence to create a (more) private courtyard and then have a space or two in front of each house for parking.

    Jessica Latten thanked Donald
  • 4 years ago

    I would pass completely.


    Flipping is not for first time homebuyers. In my area, the current condition would indicate low-value rental property. After rehabbing the house, you would just have one of the nicer rentals in the area.

    Jessica Latten thanked kempek01
  • PRO
    4 years ago

    If busy just means ‘city’ that can be fine, if it’s nonstop or fast it would be a dealbreaker. While these have the advantage of being concrete block (quiet and no termites) their age tells me they have antiquated electric, galvanized plumbing supplies ten years past it’s lifespan, and cast iron drain lines that are just starting to fail. Could they be smartened up? Trees, stucco, paint…

    Jessica Latten thanked HALLETT & Co.
  • PRO
    4 years ago

    IMO flipping as afirst time buyer is not a good plan Have you checked all the things mentioned above and then who is doing the work certainly not you I hope .IMO keep looking

    Jessica Latten thanked Patricia Colwell Consulting
  • 4 years ago

    Buy the worst house in the best neighborhood you can afford.

    Jessica Latten thanked tdemonti
  • 4 years ago
    last modified: 4 years ago

    The front yard is the least to be concerned about as it will not increase value or buyers’ interest. Proximity to street as well as noise/emissions is an issue and the adage about location should be paramount in your decision.

    Price may be attractive, but your effort and investment may not see a good return.

    Jessica Latten thanked Maureen
  • 4 years ago

    Nope - this property is not the one to "cut your teeth on".

    Jessica Latten thanked chiflipper
  • 4 years ago
    last modified: 4 years ago

    These are really bad. I see a lot of mold. There is no way you could live there while rehabbing.

    The current owner is clearly a liar, because that "HVAC" unit is not new, the doors aren't new. A window AC isn't a "mini split".

    Jessica Latten thanked suedonim75
  • 4 years ago
    last modified: 4 years ago

    Looking at Birmingham's on line plat mapping it appears to be one parcel with two building on it. The Parcel ID: 012300143016010000 would apply to both structures and you would be buying one property.

    If this link works right legal description and data for the property it should be viewable. If your desire to subdivide the two structures it would fall under "minor subdivision" in the cities subdivision regulations. A lot of red tape, time, hearings and fees involved.

    It's not a good choice to buy for a forever home. A better choice would involve buying one of the countless vacant lots in the area (and there are many) for a few thousand and build a new home for you and dad.

    With the cities on line plat mapping you can easily find the owner's name for every property in the city including their addresses. You could contact the people to see if they'd be interested in selling the property, and you could also do the same for any house. Find a few vacant homes with better potential and ask if they'd like to sell it, all they can do is say no.

    I just checked and the link to the legal description didn't work, but can be found on the cities online mapping.

    Jessica Latten thanked outpaientzero
  • 4 years ago

    Mold, asbestos (ceiling) and 1950's lead paint in addition to deferred maintenance and damage on everything visible. You couldn't live there while rehabbing, as @suedonim75 says.

    Jessica Latten thanked apple_pie_order
  • 4 years ago

    The more I look at the pics, I don't know if I'd take the property if it was given to me for free. You have cinderblock wall with no insulation, and it looks like there is a lot of water seeping in. I can only imagine how bad those walls sweat during a hot and humid Birmingham summer.


    Jessica Latten thanked suedonim75
  • 4 years ago

    Pass.

    The lack of a front yard is the least of your problems - those buildings don't need to be flipped, they need to be torn down and replaced. Well, you could flip them, but the costs are probably greater than destruction and starting fresh. I agree that right now these buildings are not suitable to live in either. As was said, I don't think I'd take those buildings if they were given to me for free.

    Jessica Latten thanked Toronto Veterinarian
  • 4 years ago

    What is that thing to the right of each porch. Made of brick, covered with plywood, maybe?

    Jessica Latten thanked graywings123
  • 4 years ago

    It looks like they were duplexes at one time, and those were the porches for the side unit. You can see where the doors were blocked in.

    Jessica Latten thanked suedonim75
  • 4 years ago
    last modified: 4 years ago

    The two are not a good investments. The cost to make them appealing to buyers will drain your wallet dry. Unless you want to live in your house for two years and Dad live in his house for two years, making each a principal residence, the capital gains tax will negate just about everything you have invested. P S, that means two separate deeds; Dad's, yours. If you buy both, then Dad becomes your tenant. Now "his" house becomes your income property. And, you still have to live in yours for two years.

    It goes on and on...don't do anything without a real estate attorney. You could wind up in a huge financial mess when you sell.

    Jessica Latten thanked elcieg
  • 4 years ago

    Pass. Location is key to a flip. You will need to remove those odd brick squares on the front. Removing the porch cover will give the illusion you aren't on top of the road...the homes look deep. Maybe some of the fronts are unneeded--but losing square footage to gain yard isn't a great equity builder.

    Jessica Latten thanked arcy_gw
  • 4 years ago

    Hi everyone! Thanks for all of the insightful feedback!


    @outpaientzero That's a good point, thanks for bringing it up. I will look into this. However, if I can't sell them separately, I wonder if they could be sold as a unit, like @Donald suggested. I'm sure I'm not the only one who needs to be near someone but not up under them.


    @shari13, the driveways are just worn in the grass from driving behind the houses. So yea, that would need to be put in.


    @latifolia yea, it's starting to look that way.


    @Donald Thanks for the suggestion... the more I think about it, IF I purchase these houses, I'd probably do something like that.


    @Suzanne Halaseh good point, it may make the resale a little difficult. I know it personally wouldn't bother me all too much. I may have misspoke. The intersection isn't busy, per se. The road is a main thoroughfare so people will be driving down one way often but not necessarily the other.


    @kempek01 I'm considering it, I have other options that I'll check out. The area is really convenient, actually. It's really close to everything and an amazon fulfillment center is right down the road.


    @HALLETT & Co. that's a good point. The description says that they have updated the wiring but I don't know how long ago that was. I'm definitely concerned about the plumbing though.


    @Patricia Colwell Consulting thanks! I have a limited budget and I'm recently self-employed so getting a mortgage would be difficult. Flipping is my best bet. I plan on doing what I can myself but I'll absolutely get help.


    @tdemonti this neighborhood isn't the best but it is coming up.


    @Maureen true. The location with the noise isn't the best but it's proximity to everything is great


    @chiflipper good point. If I'm struggling to come up with ideas just for the yard this may not be for me.


    @suedonim75 thanks for bringing that up. I thought I might be able to because I have a friend down the street from there who said people were in it recently. They could have left as a result of the mold though...


    @outpaientzero I don't plan for it to be a forever home. I just want to get in it, flip it and rent it or sell it down the line. I don't know if I really want a forever home but I'm sure my next home won't be long-term. Thanks for sharing the links with me, I'm checking them out. Thanks for the advice on finding homes! I'll look into doing that too. I'm just not in the financial position to build one just yet but I can get this one in cash and put a loan against it to fix it (if that's possible)


    @apple_pie_order thanks for bringing that up, I hadn't considered the asbestos and lead abatements too.


    @suedonim75 I was thinking the blocks were a plus because of the sturdiness of the build but insulation would definitely be an issue. I would have wanted to make the windows bigger. I bet the lighting inside is horrible.


    @Toronto Veterinarian I was hoping I could pay cash and get a loan against it for the repairs but if it is going to cost more than the homes are worth to repair, that may not be a good idea.


    @graywings123 I think @suedonim75 is right.



    @elcieg yikes... I hadn't considered that. sheesh. Two years each? I could maybe do two years total but that seems like a lot.



  • 4 years ago

    @arcy_gw thanks! Great ideas if I do end up deciding to move forward.

  • 4 years ago

    You mention you have a limited budget. Have you identified and budgeted how much it will cost you to rehab these houses? I am not a flipper or real estate investor, but both houses look like they will take a substantial amount of money to flip. A lot of buyers with intentions to remodel (whether to flip or simply update) end up way in over their heads when they realize the actual cost and the required time investment. For example, others mentioned potentially galvanized plumbing that would need to be replaced. And to me it looks like the roofs are sagging and need replacement.

  • 4 years ago

    I don't think you realize how expensive it is to fix up a house like that. You say you have a limited budget. Before you do anything else, start pricing out what it will cost to redo all the electrical, plumbing, etc. What it will cost for a new kitchen and bath. What about the cost of a roof. Even what it will cost for paint.

    Then you also mention you're self employed. Unless you have a minimum of 2 years of profit as self employed, no bank will loan you the money. Unfortunately I think you're in over your head before even starting.

    And lastly, when buying the three most important things for resale are:

    1. Location

    2. Location

    3. Location

    This does not look to be the ideal when considering the 3 most important things for buying real estate.

  • 4 years ago

    And it's a no from me.


    I think you are about to step into a disaster.

  • 4 years ago

    Hard pass on what looks like a money pit for me. Estimate the cost and double it. Talk to a knowledgable contractor before you do anything.

  • 4 years ago

    No! And No Again! Are you aware of the price of building supplies at this particular time? They are through the roof, which it looks like you'd need. Run!

  • 4 years ago

    OMG. No.