Inherited property options

[Theron Hollar]

Greetings!

I’ve inherited a 1900sqft 4/1/1 in Crossnore, NC on 3 acres of land. The house needs more work done to it than any comps would place the valuation at ( ~300k work/comps range around 250).


my question is does anyone have any ideas of ways to monetize the land as a means of making money, even though rehabbing the house is currently out of the question?

thanks!

[Brian Bohrer]

Have you thought about using it as a storage facility?  Many folks with campers, boats, trailers or extra vehicles do not need to have a heated or enclosed storage area for their toys.  You would need to put up some fences and create a convenient way to enter/exit the secured area, but could provide some cash flow while you are deciding what to do with the house?  I am sure there are other variables like insurance etc that you would need to investigate as well.

Hope this helps a little!  Good luck on your real estate adventure!  Take Care,