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Foreclosure Farms

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Blueridgedreaming
Reg. Sep 2013
Posted 2014-05-20 4:18 PM
Subject: Foreclosure Farms


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For those of you who have purchased foreclosure properties, how did things turn out? How much money did you invest into fixing it up nice?

We found a 15 acre farm that use to be a horse training facility but the property has been very neglected. One horse barn was turned into a chicken coop and the arena is very overgrown along with all the pastures, yards, tree's, and shrubs. The house needs new siding, eves, and the skylights need to be fixed. We didn't see any major structural damages, but would need to get it inspected.

Tell me your experiences. Thank you!
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KatieMac88
Reg. Apr 2012
Posted 2014-05-20 4:34 PM
Subject: RE: Foreclosure Farms



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Posts: 1035
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Location: TN		My house was a foreclosure when I bought it nearly 2 years ago. It was super outdated and in major need of cleaning and KILZ paint (the previous owners were smokers). We had it inspected for termites, etc. and when it checked out we bought it for a good deal, then went to work remodeling the interior. Remodeling cost a little more than I anticipated, but it turned out lovely and I don't regret it one bit.

I'm sure it will take a lot of labor to get the horse property back in shape, but if it's a good enough deal and you have the time/resources to do it, it could be worth it. Just be sure to have it inspected. The nice thing about remodeling and buying a fixer upper is you get to fix it how you want it.
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