Unless you are a devotee of early Saturday Night Live skits, you might be too young to remember a late-night infomercial character named Tom Vu. He was a Vietnamese immigrant with an amazing rags-to-riches story. In his infomercials, a happy, rich-looking Vu stood on a huge yacht, surrounded by babes in bikinis. (Or he was in front of a mansion with a Bentley in the driveway.) Vu’s ads promised that you, too, could learn the secret to making millions in real estate just by attending his free seminar… which was a come on for a $16,00 real estate investment course. And probably a rip-off.
While Tom Vu is no longer in the real estate business—he was sued by some former students, investigated by the government, and later reincarnated as a professional poker player—his “real estate theories” of finding and buying “distressed” properties—foreclosures, bankruptcies, divorces, tax liens—and selling them to profit off other’s miseries remains a signature Vu hallmark. (No duh.) That’s why, from time to time, we bring you a listing from the Tommy Vu files when we uncover a really good deal.
And boy did we find one. It’s a little far out, in Aledo, but we think it’s quite the steal. You have divorce and a tax lien going on. This house is like a 45-minute tribute to Tom Vu, located at 201 Terrace Bluff Ln. (We ought to bring him back for a reunion here!) The home is priced at $10,000 below tax value. Priced under half a million dollars at $428,500, you are getting a 4,322-square-foot home built in 2004 on just over a full treed acre.
So if you are looking for some easy country living very close to Fort Worth, this is your big chance to grab it at a significantly reduced price.
Aledo is one of the fastest growing suburbs in North Texas. Located 19.5 miles west and slightly south of Fort Worth, it was named for the home town of a railroad official from Aledo, Illinois. Aledo is touted as a a positive growth area for many reasons—it’s the first incorporated city west of Fort Worth near the fast growing I- 20 corridor and the Walsh Ranch Development. There are 7,881 households with an average income of $97,816 within a ten-minute drive. McDavid Terrace Estates is one of the most desirable sub divisions in the area, and this house is in the very heart of it.
So what do we have? 4 + 4+ 4. Four bedrooms, four full baths, four-car garage, and room to park four more. There are three living areas, a chef’s kitchen, and a hell of a master bathroom: dual sinks, fireplace in master, jetted tub, separate shower, sitting area in master, and huge walk-in closets.
The kitchen has a built-in compactor, microwave, electric cooktop, dishwasher, double oven and the usual vent-a-hood plus water line to the refrigerator. I spy granite counters and a breakfast/lunch bar.
The agent says you do need fresh new carpet upstairs, and the house will be like new. I may add a fresh coat or two of paint and updated colors. But I think Kenny Raupple is right: the house has the best bones west of DFW. All she needs is a little flair and fun.
Asking $428,500. The home is listed with Ken Raupple of Castle Keepers. Tommy Vu would be so proud of this deal: the top miseries combined into one great house steal!