I showed a Burbank foreclosure on Sunday and on paper the home appeared to be a great buy.  When I arrived the front door was open and there were four groups of people all ready looking at the home.  I did a quick walk through before my client arrived. Below I have guesstimated what the actual cost might be:

Let’s start at the front:

Remove and replace old shake roof  - $15,000
Remove tree and roots uplifting pool deck - $5,000
Replace ugly back slider  -$3,000
Gut and remodel kitchen - $60,000
Update ¾ bath - $5,000
Removed urine stained carpet/replace wtih hardwood- $8,000
Gut and remodel master/full bath - $15,000
Total $111,000
We haven’t addressed the cracked driveway or the old and rotting windows. Or the fact that because electricity isn’t on the home shows dark (skylights with roof replacement would be good) or the fact that the pool is old –perhaps 50 years old.  And the final insult is that this home backs to commercial.