Roberta Knab

Touchstone Property Solutions, LLC in Franklin, TN

rnThe property lead came from our Realtor – this was a pocket listing. Our Realtor presented this deal to another investor, but the investor couldn’t fund the deal. List price 30K, our offer 27K (accepted), Earnest money deposit of $200. A FortuneBuilders student funded our deal – purchase price and renovations; plus we had skin in the game ($6000 renovation costs). Summary of repairs and improvements you made to the property. Interior Repairs - mostly cosmetic: new flooring throughout with new quarter-round, painted all rooms, replaced plumbing under the kitchen sink and full bath, new vanity and mirror in full bath, new commodes in both bathrooms, new faucets in kitchen and both bathrooms. Installed 10-year smoke detectors, six new ceiling fans and new lighting throughout, thorough cleaning. Exterior Repairs: installed new combo gas HVAC system with new pad, new hot water heater, installed 3 new exterior doors with knobs/deadbolts. Repaired spigot pipes, new windows in sunroom, new exterior lighting, pressure washed exterior. Painted wrought iron railing on. Yard cleanup and minor landscaping. Our Realtor listed the property on MLS and Zillow, and marketed within his Broker’s office.rnOur property was on the market for 3 days, we had a few showings. The third day on the market we had an offer, which we accepted. Issues that we experienced were the lack of attention to detail with our Lawn care person and the handyman we hired to install the floors, paint, and make minor repairs. We had to constantly remind them of the work that needed to be completed and the timeline to get it done. We followed up with them daily to ensure the work was completed to our satisfaction. During the Buyers Home Inspection, the gas had not been turned back on by the HVAC installers and the home inspector couldn’t test the furnace. The air conditioning worked fine but the inspector had to test the function of the entire system, not just the air conditioning. The HVAC Company was able to send a technician to resolve the problem while the home inspector was on site.rnrnLessons learned - no matter how big or small the project is you have to follow the systems.rn