1610 Patterson Ave, SW Roanoke, Virginia 24016:

Before - During

After

This is the "white living space" project originally attempted by Doc Schneider, of the old Von Bluvens Show.

I bought the lien on this property for $500, then sued the City of Roanoke to foreclose it. The property was at the top of their list of houses they wanted to demolish. They fought me over the property, and I end up buying it from my own foreclosure sale for $8000. After the City spent thousands of dollars on legal fees, they ended up settling for less back taxes -- $3000 -- than I originally offered them before the lawsuit -- $4500. They just didn't want "Nazis" rebuilding the house and had decided to try to interfere with my business at all costs. It failed.

The property appraised Wednesday for $110,000. It is a 2444 sq ft 4 BR 2 BA Queen Anne with all new electric, plumbing, heating, etc. I'll post some interior photos soon.

This is what I mean when I say my main business is construction. Rebuilding houses is what I do for a living. Holding them and renting them is an investment strategy -- not a way of making it month to month (though my rent roll is about $17,000 a month and I make a nice living off of that).

Next on the agenda? We've bought two others and, as soon as we get the final paperwork closed and my check for Patterson, the investors in this project want me to go and buy a few more. I've got two in mind.

(And, for those who are perpetually threatening to "burn down" the houses I own, you can believe these babies are fully insured at replacement value -- generally about twice the actual market value. So I can buy two homes cash for every house someone "burns down". ;-D )