There’s always going to be some kind of trend for savvy investors to try and take advantage of in the housing and real estate market. Currently, one of those trends is people buying smaller houses that offer them all the benefits of home ownership, but in a cozy, almost apartment-like setting.
According to the local Democrat and Chronicle, at least one hip investor, Brendon Bascom, is attacking this so-called “tiny house movement” head on. Bascom has made it a point to look for small homes that are being foreclosed on and that need work done. He buys them at these discounted prices, puts a little bit of work and money into them, and then flips them for a profit.
“Everyone wants something that’s done,” Bascom said.
His most recent endeavor that went through is a just under 900-square-foot home in Irondequoit. Bascom was able to nab the piece of property for $34,900 in January of this year. He then spent time and money remodeling and restoring some of the aspects of it before working with Amy Petrone of ReMax Realty Group to sell it for $89,900 “almost immediately,” according to their reports.
According to the U.S. Department of Energy, leaky and inefficient windows, skylights, and glazed doors account for more than 25% of the average household’s energy bills. Bascom modernizes his homes to make them appealing for people looking to move in and feel right at home without the need for work done on their part.
For his most recent sale, Bascom added a new roof and new flooring and remodeled the kitchen and bathroom while also giving the walls a neutral hue of paint.
It’s unclear just how much money Bascom put into the project as he declined to disclose those details, but he did say the kitchen and appliances he equipped it with cost about $10,000 alone.
For people like empty-nesters and those who are environmentally conscious, these small homes offer a great option. People like Bascom are happy to try and meet their desires — while making a small profit of course.