A while back, Hick got us on a trivia team with a couple of his old friends. They are former teachers who have known Hick since he was just a student refusing to collect bugs for his science class, even though he worked at a gas station and had easy access to all kinds of flying critters, due to the bright lights at night. We have visited with them on and off through the years, but Hick has a weekly confab with This Guy every Friday, when they join others of like mind to shoot the bull.
A couple months ago, Hick mentioned that This Guy had a house he was trying to sell. He was hoping to get $15,000 for it. We thought of HOS (Hick's Oldest Son), but that is out of his price range. This Guy had originally bought the house to help out the owner, who was sick. When the owner died, This Guy didn't really do anything with the house, which was in not very good shape. As he's gotten older, This Guy realized he didn't want to fix up and take care of that house. So much that he told Hick he could probably let that house go for $10,000.
Funny how Hick had been talking a short time back about flipping a house. His buddy, Buddy, had done it, and is making money renting it out. Hick had helped him with some renovations. We've had rental property before, but sold it so as not to be bothered with non-payers.
"I've been thinking about buying a house to flip. But the older I get, I don't think I want to mess with it. If I was younger, I might, now that I have the time." I think the idea popped back into Hick's head when he heard about This Guy's house. "It'd be a shame to pass up a $10,000 house."
Two weeks ago, This Guy told Hick, "If your boy can get the money together, I'd take $5000 for that house, and be rid of it. Otherwise, I'm going to donate it to Habitat for Humanity, and take a tax write-off."
Two weeks is kind of short notice to scrape up $5000. HOS was planning to sell some stuff, and said he'd get back to Hick. While we were in Oklahoma, This Guy's wife called Hick, to see if HOS wanted it. "I had a call from Habitat, but I didn't answer. I called back and said I was out of town until Monday. Do you think you'll know by then if HOS wants the house?" Hick made a couple calls. HOS was not able to, in that time frame.
On the drive home from Oklahoma (9.5 hours is a long time to think), Hick made a decision.
"Val, I just can't let a $5000 house get away. I was thinking about buying it. I can make it livable. Nothing fancy. HOS can help me. I won't pay him, but if he can pay me $5000 and materials by June 1, I'll sell it to him. If not, I'm sure I can sell it and double or triple my money. I'd even take that camper he's got, and sell it myself up at the Storage Units. Either way, we get our money back, and HOS still has a chance for this house."
It seemed like a good enough proposition for me. You know, the former buyer of a $17,000 house. Here's the new Hick House.
Hick and HOS have been working on it for two days now. Some windows need replacing. Hick has assorted materials, like a shower, a toilet, a sink, a door, some windows. They're measuring to see what will fit, and what is needed. Hick has seen stuff at auctions that he knows he can get for a good price. The electric gets turned on Friday, so Hick can use his power tools. As you can see, there's an upstairs. What you can't see is the partial basement. I'm pretty sure this is a good investment.
I figure the deal was a win/win/possible win. Hick got a $5000 house that can make him money, This Guy got the city off his back for derelict property, and HOS may get a new home. I'm pretty sure Hick was meant to buy this house.
Look what he found the first day!
Oh, yeah... Hick House is three doors down from our first home, my $17,000 house in town.
a $10,000 house, reduced to $5000? Where on earth can you buy a house for that little? I'm totally blown away! Looks like a cute house, too!ReplyDelete
Of course I can't reveal the location, because then others could steal Hick's bargains! It's in the southeast quadrant of Missouri. You can live pretty cheap around here. But not $5000 house cheap! This was a steal.Delete
A $5000 house? Two floors and a basement and made of brick just like Practical Pig? Is this 1950?ReplyDelete
I don't know about 1950, but across the street, diagonal, is a Sears Kit House. I really like the front porch of Hick House. Haven't been inside yet. Pictures coming up in the future.Delete
I agree with joeh, at $5000, that house is a steal. Here in Australia, such a house would be advertised as "a fixer-upper, or demolish and 'build your dream' home" and would sell between $90,000 and $175,000 depending on the area it is in. The closer to town, the more expensive.ReplyDelete
Wow! Hick House is definitely a fixer-upper. Your property values are astounding! This one is three blocks from downtown Main Street, near the main post office, and my shady-check-writing credit union, and a Subway sandwich shop.Delete
Three blocks from downtown Main Street? It looks like it's way out in the country with all those trees. Property values here are ridiculous, it's no wonder so many young adult people are staying at home with their parents.Delete
No, it's on a well-populated street. A little creek runs behind it. Our property values aren't too bad here in the middle of nowhere, but HOS's generation has trouble making ends meet. Hick's buddies up at the Storage Unit Store all have adult kids they are helping out.Delete
What a great deal! And it looks like it will be a charming little house. Hick did good! I would love to flip a house, but I would have to work with somebody other than HeWho procrastinates.ReplyDelete
Structurally, it has its charms. The disrepair it has fallen into is sad, but not unsurmountable. You would be a great flipper.Delete
That property was a steal! I hope it doesn't come with unseen night wanderers.ReplyDelete
Well, if it does, it will be HOS's problem, assuming he meets Hick's conditions for taking possession. The previous owner died, but I don't know if it was in the house. This Guy bought the house to help him out, so he'd have his home to live out his final days.Delete
I have enough unseen phenomena to keep me hoppin' right here! One just happened a few hours ago. Story coming up this week.