DESIGN POINT
RENOVATION ROCKSTAR
Vaughan left the external structural components of the house largely intact. “A fresh coat of paint and a little fire- and smoke remediation will work wonders!” he said. The team did decide to install a playset in the backyard. Standard sets like this one can cost as little as $150 and make a backyard instantly attractive to young families.
BACKYARD AFTER
Although the interior of the home was nearly gutted, the outside “could have been much worse,” said Vaughan. Given that most of his rehabs require extensive floorplan updates, the lack of walls inside did not seem like quite such a big deal. “It was still structurally sound,” he said.
Renovation Rockstar: Fire RecoveryRehab
BACKYARD BEFORE
BACKYARD AFTER
A MARYLAND INVESTOR SKIPS THE MOVIES TO FIND A HIDDEN GEM.
hen Vernon Vaughan of FairAnd- FastHomebuyers.com first spotted the promising address on Hubzu.com, he believed he was investigating the purchase of a vacant lot. “I swung by the property on the way to the movies with my twin boys and was very surprised to find a house!” he recalled. “I made a deal with the boys that if we skipped the movie and went back home to get my screw gun so we could take the boards off the door, and if they went with me to check on the property during the rehab if we bought it, I’d make them equity W
partners,” he added. The crew did end up purchasing the property. “It had fire damage, but I’ve seen houses in much worse condition,” Vaughan said. His company specializes in rehab projects that he describes as “scary” to most investors because of the amount of work required to repair and renovate them. “We typically complete- ly redo both the interior and exterior of the home,” he explained. “Update the floor plans, modernize plumbing and electric, add bathrooms and finish basements, the whole nine yards.”
FIREPLACE BEFORE
FIREPLACE AFTER
The dark, smoky, empty rooms in the home might have intimidated some investors. Vaughan, however, saw the bright, modern potential in the home.
16 | think realty magazine :: april 2018
thinkrealty . com | 17
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