If you’ve been around a while, you know we have owned rental properties for about 12 years. As our lives changed (moving to the country and having three kids), we learned that the rental property management was no longer something we wanted to have on our plates long-term. There are a lot of good reasons to own rental properties, but there are some downsides. (See a few of them here.)
After selling two of our three rental properties in 2019, we were grateful to focus on other things.
But now it’s finally time for a new project.
A few months ago, we purchased the house across the street from our current home. It’s a split-level home on about 3 acres of land in the country. The owners (our neighbors) both passed away in the past few years and it has been mostly empty since early 2020. There was an auction held by the estate last fall but it didn’t sell.
The more we have watched the market in our area (homes are selling like hotcakes), the more we thought this home could be a good investment and opportunity to take on a new project.
So we have a new home to work on. And it’s totally different than anything we’ve done before. A split level!
Ryan and my dad are working together and we are all really excited to see this home come back to life. We are not planning to rent the property – instead, we hope to update and fix it up for sale. Our first flip.
The home was cared for well by the prior owners but needed to be cleaned and updated, especially after sitting empty for such a long time. Luckily, the “bones” are fine – it has a newer roof, windows and utilities. It just needed cleaned up and modernized.
It would be a really lovely home for a family – lots of outdoor space, 4 bedrooms, and really swell neighbors (wink, wink).
I thought it would be fun to share what it looked like when we closed – and I’ll try to come back and update when it’s finished. Since I took these pictures a couple months ago, the guys have already completed a lot of demo, painting and bathroom work, and it’s already coming back together. My dad has painted every single surface in the home – trim, windows, ceilings and walls.
We’ve even found some fun surprises – like these original floors. Not keeping them – but super fun.
And more exciting, a beautiful vaulted ceiling in the sun room, hiding behind those stained ceiling tiles.
The home has lots of beautiful windows and light, and Ryan contends that the views are even better than ours. (Fighting words.)
We aren’t doing everything we would do if we lived there – it’s a balance of making it look nice and move-in ready, but also sticking to a budget and not going overboard. Also, the goal is to get it fixed up and for sale in a few months. It’s a fun challenge, and I think we’ll learn a lot. I can’t wait to show you how it comes together.
What do you think? Can you see the potential?
And more importantly – who wants to be our neighbors?
Did you like this post?
We'd love to send you more inspiration and encouragement for your home. When you sign up below, we'll send you our free guide to save thousands on your next home project. Because your home shouldn't own you.
Sam says
Ooohhhh I can’t wait to see the final project! There’s so much you can do with this country house. Also, I really like that you give tips on owning rental properties, my fiance and I are really wanting to do that!
Anjanette Shadley says
Love your projects! Can’t wait as it progresses and hopefully (maybe?) see you on an HGTV special someday!
Judy Mosher says
Can’t wait to see the horse done! I know it’s gonna be Beautiful! Looks like a very nice home! Someone will be Blessed to buy this house!
Donna B says
I’m excited about this journey for you! Best wishes for your endeavors ❤️
JackieB says
I am along for the ride! Can’t wait to see the progress pictures.
Heather says
Excited to see the after pics!!
Cindy says
I WANT TO BE YOUR NEIGHBOR! Can’t wait to follow along on this new project and see what you do with it!