So Stuck?!?! :(
I am stuck in my current tax deed investment property. I moved into it to save money while waiting for a buyer, and as the story goes....the market is bad here and i cant even get a call!!!
it is a brand new manufactured home on its own land...it appraised for 124k back in AUgust...and i have been posting ads for it at 95k with $0 down, closing costs paid...etc...i am kinda scared to do a lease to own. cuz i dont know much about that and i am afraid renters might trash the place.
my biggest problem is that i am so frustrated because there are so many great deals out there right now and i am just stuck in this house...unable to take advantage of this market.
I am sure a lot of you are going thru this as well...JUST STUCK.
any ideas, suggestions, comments anything...encouragement that things will get better? lol thanks
Are there things you can do to give it better curb appeal? Do you have it listed with a top RE agent? Do they have suggestions to move it?
"i am kinda scared to do a lease to own"
I think you may NEED to focus on bond for deed/lease 2 own type deals. Get 5k down or something and cross your fingers.
Manufactured homes present a financing problem for many buyers; that aspect is certainly hurting you.
Good luck
i wish...no i put the MH on the lot.
i have 94k in the property, and it apprasied at 124k.
but with the market right now it doesnt matter what it apprasied at, i have lowered it all the way to 95k to try to get it to move, no luck, yet...
im thinking lease option. i need to read up on it.
No professional here but I was in a similar situation. Have a very nice home and land that appraised in May this year at $306K. Have had it listed for $299K with no bites for nearly a year. Have over $175K equity in it so can be very negotiable, still no takers. I recently leased it with a high deposit and 3 times what my payment is to give me a $800 positive cash flow per month and went on & moved to the other state my job is in. The tenant is super,no kids,professional and may want to lease another year after his lease is up next July, due to his work there (2 yr project). The extra income is nice & better than the place sitting there empty. At least someone else is making the notes & giving me some cash after 9 yrs of my hard work.
I was totally against the idea at first than joined this site and read up a bit before I decided to do the year lease but now am glad I did. Maybe you could do something similar ?? Good luck