House Purchased in St Louis for Rehab

Business Owner and Real Estate Investor Chad Klamen Buy a House in St Louis for Cash

Hi, this is Chad here with Klamen group where we buy houses as is for cash and I’m here in Dogtown in St Louis, Missouri. Just bought this house closed on it a few weeks ago. Really excited to start this project, and I’ll kind of explain why here in a second. But, I’ve been talking to this seller for now over a year and a half, we met sometime very late 2016. At the time she wasn’t ready to sell, but we just stayed in touched. And then now she’s finally ready to move into a rental property and get out of the house that she’s in. It was actually her son’s house or so it was the one who’s selling. He had a motorcycle accident and she became the power of attorney and they were living here together. This was an interesting deal because it’s on a double lot, and right now lots of very valuable in Dogtown, so what we did is we bought the entire house and lot from them for a price that was fair for her and fair for us. And we went over the numbers and then what I did is, I’m not a builder, so I sold the lot to a builder. So just kind of give you an idea, I’m going to flip this around real quick

There is the house with a hole through carport, the garages on the other side, and then next to it, as you can see, it’s on a double lot. So we’re in the process of selling the lot to the builder it’s been sold, we just haven’t closed yet. He’s got to do  a survey. Kind of exactly where the lines are and that’s what he’s going through right now. So the lot Looks small he’ll put a house up there, and hopefully do very well. And then what we’re going to do is rehab this property, put it on the market and get it sold because that’s what we do. So much going on inside of me. And I’ll show you around,

Centered in here. You’ve got a fireplace there in the corner it’s a gas fireplace and actually, you can move that fireplace it’s not built into the property. Walking in here to the kitchen, as you can see, it needs some work, but the layout is already set up kind of the way we like it. Open floor plan, you know, clearly we need some new cabinets going in, different center island, but I really liked this property. Sometimes, you know, we have to take out walls and especially when they are plaster walls and becomes a larger project than you anticipated. But the layout the way it is, I really am looking forward to getting this done. What we’re going to do here is add a bathroom. So what we’ll do is we’ll close off these doors, make them not a door side on the outside, put in insulation and then add a bathroom here. It’s kind of hard to visualize, but basically instead of full archways we’ll have half archways and a half bath down here, not having a bathroom on the main level, sometimes a sticking point from buyers, so it’ll be important to get that added, it’ll increase the value of the property. And then I’m going to take you upstairs, kinda just gives you an idea and a full bath in here, three bedrooms and what we’ll do is we’ll refinish the hardwood floors, per normal, repaint, and get this thing ready to go on the market.

So that is the plan. As I was saying, we’re hearing Dogtown, so if you know anybody that you know, maybe they’re not able to keep up their house anymore. A person like I was saying that initially owned this house,  was very capable person, went to Duke, had some awesome stories to share with us and then his mom became power of attorney when he, you know, went through a really challenging situation. But, we were able to help them get it sold. Never at one point did we pressure them, we just went on their timeline and that’s what our goal is, is to make their selling and real estate solution as simple as possible. And then we were able to do that here. So if you have any questions for me, please don’t hesitate to call. And if you or you know, if you or anybody else that needs to sell a house as is for cash, always give us a call at 314-461-1676 talk to you soon!