Should I go for hard money or find an investor? or just forget about it?
Yesterday I drove through the area where I want to "work", looking at houses I found in the foreclosed section of an MLS, and I also found a couple of homes FSBO. 2 are very nice and clean, and apparently don't need any rehabbing.
They are not really very big. The smallest one I called today and spoke to the homeowner to find out how much they want for the house and about the floorplan. They need to move because the kids are growing and need separate bedrooms, now they share one.
The house has 2 bedrooms, 1 bath, 1 kitchen, no living or dining room. it has a 12 x 12 steel building in the back yard. The lot is between 1 1/2 and 2 lots big. It has a new hard wood floor, new carpet, new bathroom floor, new vinyl siding with transferable guarantee, new stove in kitchen. They want $ 55,000.00 for it, it has still $ 32,000.00 on the mortgage and they owe $ 11,000.00 on the siding. The total sq.feet is less than 1000. has centra heat and air. Most homes in that neighborhood have 2 beds/1 bath but also have living and dining and the prices are overall between 52,000.00 to 58,000.00.
The other place I am still calling to find out the particulars and the price.
Ladybug,
WOW, it is hard to figure why a house with no living room or dining room has not sold. Maybe you could sell this one to a newly married couple, because it does have 2 bedrooms, no need for a living room.
Then again maybe the siding salesman who told them how much the siding will add to the value of the house may be interested in buying it.
Now that I am done kidding around, think about these things, who would want this house? Not any buyer I know, of course maybe the couple in the house may want some land I have in Florida, it is a little wet, but it looks like they buy everything.
Ladybug, I hope you don't fall into this category.
John $Cash$ Locke
No, I don't qualify for that category! I just wondered. There are many single men that would be ok with such a house. I happen to know a lot of them, buddies of my husband, all VietNam vets. One of them is coming down from Massachusets today or tomorrow, and he is not used to living in a "normal" house. He'll be staying with us for a while to get on his feet (emotionally), they all have serious Post Traumatic Stress Disorder, and are 100% disabled. They are all good men, trying to get their lives back toghether, most lost their homes to quite vicious ex-wives who also ruined their credit. One or two of them are ready now to get a home and live again.
I don't like your Fla wet land, here the yard looks like a swimming pool! I don't need any more wet land
Thank you for your reply, though, and I enjoy your sense of humor, one of the most important qualities in a person!