Hi Nick,

Here are three properties in Antioch that I think would be good for us to consider.

#1: 3999 Moller Ranch Way MLS#: 40531502

This is a 4/2 2333 sqft newer home very close to my house. It has been on the market 78 days.

Asking price is $219,900 and I think a safe after rehab sale price would be $265k.

Paint is in good shape inside and out with the exception of some washing/touch ups inside and patching a couple chips in the molding outside. Carpet is in very good condition except in one small bedroom. I think we would only need to replace the floor there. Entire kitchen is gutted. AC is missing and I am assuming the furnace may be as well, needed a ladder to check. Backyard looks pretty bare and could be spruced up a bit. There is a broken sliding glass door. The bathrooms actually look pretty good. I think maybe just replace a couple fixtures and leave them the way they are otherwise. Neighborhood is very nice.

My analysis gives us each a $12k profit if we buy for $200k.

Here is my cost and profit sheet: SHEET

Here are the photos:

#2: 1408 Poppy Way. MLS#: 40535055

This is a 3/2 1664 sqft home. It has been on the market 56 days.

Unfortunately they are asking $145k which is what I think we can get for it fixed up. My numbers are based on an accepted bid of $100k which seems like a long shot, but can't hurt to try.

Neighborhood is not great, but not too bad either. Needs some paint touch ups on the outside, new lawn and some bricks repaired. A few new fence boards and a possible repair on the garage door. All the floors need to go and the whole inside needs to be painted. Kitchen needs to be redone and the bathrooms too. A hole in the wall needs to be patched, a couple deck boards replaced and a window replaced or fixed. Backyard could use some work. It looks like the living room was extended or added on, but it seems to have been done very professionally.

My analysis gives us each a $11k profit if we buy for $100k.

Here is my cost and profit sheet: SHEET

Here are the photos:

#3: 5376 Rockrose Way. MLS#: 45027360

This is a 5/3 3367 sqft home. It has been on the market 79 days.

This is a very interesting property. Evidently this was a grow house (the whole house) and a fire started in the garage, which I assume let to the eventual foreclosure. The entire inside is partitioned off into little compartment rooms with temporary walls and air ducts are run everywhere. The walls are just studs screwed to the existing floors and walls and then drywall added, so they should be easy to demo. The house looks like it is in pretty decent condition underneath, although there may be a little water damage from the irrigation, holes from the walls and ducts and the small fire damaged area in the garage. It looks like the fire dept. cut through the large garage door, so that will need to be replaced. Obviously the entire inside will need to be repainted and the floors replaced after all the temporary walls are knocked out. New kitchen countertops and a stovetop. Possibly there may need to be some work on the electrical and the heating ducts if they have re-routed any of that stuff, but maybe not. The master bath is missing the entire sink counter, but is otherwise ok. The other baths may just need some fixtures. The master closet had all the clothing rails and shelved taken out to make more grow room, so that needs to go back in. The backyard could be spruced up a bit.

Jackie thinks it would sell in the low $300s after repair, although my numbers show a lower amount. I figured on $300k to be safe. At their asking price of $249,900 we would still get more then 2k profit each, which I know is not worth it, but I think they may be highly motivated to sell as I can't imagine anyone wanting to buy this after they walk inside. The inside is just insane. So I wouldn't be surprised if we could get a bid of $200k accepted, which would get us almost $30k profit for each of us!

Here is my cost and profit sheet: SHEET

Here are the photos: