Any advise would be greatly appreciated!!
I found a property that is currently under a contract but agent thinks the buyer is a wholesaler and is not going to be able to sell it. The agent for the property called and said that the contract is going to expire tomorrow and will not be extended so he must have been right.
The property is a 1970’s brick ranch that sits on 1 acre. The house is in bad shape and neglected. Its a 2 bdr/2bath with an addition that is the worst part of the house. The road that it sits on are full of ugly broken down houses all on 1-3 acre lots. BUT here’s the kicker…development in this area is huge. I am talking 500k -1 million dollar homes all around and pushing its way toward this road. If fact they are right across the street. Development will continue to push its way through. Lots of this size are rare.
I could probably get the house for 140’s, fix it up just enough to rent it out with the notion of sitting on it until the time is right and sellling it for its value based purely on the lot and its location. I still need to do all the math for a mortgage, rent, taxes, ins etc. which I will do tonite and tomorrow.
Any thoughts??
HMMMMMMMMMM… NO.With all due respect all you said is maybe and, havnt done , and could, and you didnt state where the property is North Pole? Hawaii?Way not enough info :-\