DO NOT BUY THIS HOUSE | Noob vs Pro
FULL TRANSCRIPT
we got another new Bruce Pro episode for
you from Utah for househack welcome to a
two-in-one from the 20s plus a basement
now you know in my new Bruce Pro Series
we like talking about what the noobs
like to do and what the pros like to do
and many of you have heard me talk about
wedge deals finding a fixed dropper you
could add value to well there are
properties that you want to add value to
and they're properties you don't even
want to touch
you're going to find out what kind of
property this is let's get started here
so most people even the noobs are going
to pull this off they're going to look
at a property like this and say oh it's
probably got hardwood floor underneath
the carpet right and the answer to that
is yes it does it's got your one and a
half inch oak and this is a pretty
typical
1920s style property you'll find them
pretty much throughout the United States
very common and people will refinish
these hardwood floors often you can tell
and the pro will know this versus a new
but a pro will look and see can we see
any nail heads coming through and
sometimes when we see nail heads it's
just a sign that it's been refinished in
the past multiple times and there might
be a limited lifespan left now another
thing that I like to this I don't see
nailheads here so that's good now
another thing that I notice as I kneel
here and you'll have to come around to
see it but I can actually see the tiling
kind of sneaking up towards the tub over
there and then the floor it might be
hard to see on the camera towards the
back also divoting right in the middle
of this the hallway here and coming back
up it's not uncommon for these raised
Foundation Homes to have sagging in
different parts of the property but
these are issues that you're going to
want to inspect underneath a lot of
these homes when they were built were
built on Piers that were really just
stacked together blocks of rock and if
you have a lot of these that have rotted
away or the rocks have started falling
away you're going to be adding a lot of
expense per Pier just to get the
property jacked back into place you
could be looking at 700 1200 bucks per
pier and you start adding 20 Piers
together it starts getting expensive you
go down there and you're like okay we
got two Piers to do over here and it
solves most of the issue maybe that's
not that bad but now this means going
underneath the property some more work
to do here now remember I like looking
for properties as a pro would do rather
than just being a sort of a noob going
okay hello Kevin says buy a fixer-upper
I like looking at the property going
okay well what upgrades do we have well
this is actually an upgrade from 1970.
it's an upgraded aluminum window but
it's trash it's garbage you don't want
that anymore the original windows in
this property would have been these
these are your uh original wood windows
right here it's a single pane window uh
and this is an operable single pane
window although it's mostly been painted
shut I can't even get the darn thing
open anymore look at the alarm sensor is
wired in over here very common for these
to be painted shut the pro also looks at
these and says most of these are painted
with an oil-based paint a lot of people
did not know they went over these with a
latex and it peels right off you're
probably looking at a lot of leaded
Paints in some of the underlying coats
of paint as well hey you want to get a
good deal on multi-family or single
family real estate check out my programs
on building your wealth link down below
so you're at a millionaire real estate
investing do yourself property
management and Rental Renovations and of
course you can consider shadowing me now
as well I'll link to below we've brought
back shadowing after selling out the
first time around let's go and even
though this property has my favorite
Style Idol of kitchen this property
doesn't feel like the property that's
actually had any pride of ownership now
I don't know what could that give that
away but I'll let's just put it this way
the kind of person who's going to find
this kind of living environment
acceptable with the splattered grease
and this nasty and the damage to the
countertop unless it was a hoarder of
some kind but I mean this is quite nasty
too putting up a foil here to catch the
oil as you're cooking rather than just
cleaning it every time and I mean just
look this is this should go to tell you
I mean you've got rat droppings in here
basically this should go to tell you
that this is not somebody who had any
respect for the property at all but it's
not just that because I can clean stuff
like that up we can put in new cabinets
where it becomes problems when you're
looking at when you start looking at the
systems of a property and that's what
the noob forgets the noob says well
every property I go into is going to be
a fixer-upper anyway so I'm going to
have to deal with all the crap anyway
that's not necessarily true when you go
into a quality remodel you're not going
to find these open 1950s junction boxes
that are just old trash wiring sliced
together with knob and two garbage what
you want is ideally you want like a you
know 1990s Grandma who came in here and
redid all the electrical redid the
plumbing did the foundation work did the
water heater the windows the furnace
but she's still got the old 90s kitchen
cabinets and the old flooring and the
dated wallpaper and the old paint this
is disgusting it's probably I'm not
going to use the m word but apparently
some drug use on this one he's still got
an original for well it's probably not
original but you had an ancient furnace
over here you can see the work that was
done relatively basic if not near shoddy
on on some of the water heater work here
no Smitty pan you know the funky
pressure relief PEX pipe over here uh
the piping over or the venting over here
doesn't look terrible but could be
better certainly seen much more
professional installs you're going to
find these properties are also laugh and
plaster what that means is you have lath
and plaster see laugh is this wood this
is Plaster which makes it really hard
for you to hang pictures you find this
mildew and mold uh mostly uh sort of a
window mildew here you're going to find
a lot more of that hold an issue
over here this is all Subterranean this
is in your basement over here so pretty
disgusting over here these are these are
all expensive issues and in an old house
like this there's nothing salvageable
really everywhere you look it's damage
it's a rot everything has to be redone
frankly this is
I mean it's not a tear down but it would
be you would get more out of this a lot
tearing it down almost I know we can fix
it up but this is probably not something
I would do because it would cost me too
much money I would have to do uh the
foundation the roof the plumbing the
drainage around the property the water
heater the windows the furnace and then
I get to the cosmetics and by that point
I've spent a lot of money I mean every
door is broken every baseboard is
damaged The ceiling's Moldy I mean you
could see the water stains over here uh
everywhere you look it's damaged I don't
even have a functional ceiling
throughout most of the property it's
rough even you go into the bedroom and
what do you get in the bedroom yet
another corner with mildew
yet another broken set of doors more
paint that I have to drywall fix because
it hasn't been fixed in forever more
windows that I have to replace and now
I'm in a neighborhood where look at this
I got a neighbor who has the original
window here they replace the back window
but they never trim molded that window
out properly you could see the funky
trim around their window so even if you
remodel yours you're next to somebody
who leaves all this trash out uh and and
does funky remodels themselves older
roof as well no Chimney Cap I mean what
is that that Barn back there I mean well
you're going to come in this
neighborhood and remodel to live next to
this and then don't even get me started
on your own garage and I know this one's
not much better but I'm just saying if
you're gonna come remodel look at your
garage that is literally a tear down the
roof is rotted away uh it's uh this is
just an example where a true Pro will
actually say yes it is a fixer everybody
knows it's a fixer but it's so much of a
fixer that it's actually dangerous it is
a dangerous prop property to consider
because there's so much to do and beyond
that a noob looks and goes oh I can do
this you know I'll slap some paint
around bro no you're not you're not
slapping paint around all the wooded rot
uh rotten frames and all the mold and
trash electrical splices I mean whoever
left the property like this
you know the electrical junction
wherever they put all of our electrical
Junctions in the walls or in the
substructure we're going to be janky and
trash I don't even want to know what's
going on down there and if you think
like in a you know under under this
portion beyond the part that we were
able to access uh I'm talking about
where the actual Junctions are which
usually when they have basements in sort
of the uh the closeted areas I don't
even go into those uh but uh not only
that some people are like oh but you've
got an attic up here right well don't
expect to go into this some of these
older properties you've actually it's
actually surprisingly have got a little
bit more room over here a lot of these
older properties have relatively flat
roofs and there's very limited space
this is actually a benefit so while I
was going to say you have to be careful
on these 1920s homes because a lot of
them were flat roofs and you have
basically this much space so in other
words you want to add can lights you
just have to rip the ceiling down which
is laugh and plaster so a lot harder
than drywall that is actually the only
good thing I've seen so far of this
property is that you have an accessible
attic usually you don't uh on on some of
the older properties like this but
anyway all that said look
this is not something I would touch for
my real estate startup and it really
isn't something anybody should touch
unless they're getting a phenomenal deal
would I touch it at a certain price of
course but the odds are I'm not going to
get it for the price that makes this
make sense somebody else is going to buy
this thinking they're getting a good
deal and then they're going to be one of
those stories where they go in with a 50
000 budget and they come out 150 000
later and upside down on the deal this
is a very risky kind of property and if
you'd like my perspectives make sure to
consider shadowing me as I explore a
real estate around the country or in our
local market also check out my programs
on building your wealth especially the
zero to millionaire real estate
investing course and the do-it-yourself
property management and Rental
Renovations course link below
UNLOCK MORE
Sign up free to access premium features
INTERACTIVE VIEWER
Watch the video with synced subtitles, adjustable overlay, and full playback control.
AI SUMMARY
Get an instant AI-generated summary of the video content, key points, and takeaways.
TRANSLATE
Translate the transcript to 100+ languages with one click. Download in any format.
MIND MAP
Visualize the transcript as an interactive mind map. Understand structure at a glance.
CHAT WITH TRANSCRIPT
Ask questions about the video content. Get answers powered by AI directly from the transcript.
GET MORE FROM YOUR TRANSCRIPTS
Sign up for free and unlock interactive viewer, AI summaries, translations, mind maps, and more. No credit card required.