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Updated over 17 years ago,
Young and stupid.
Hi im new to this forum and real estate investing. Im 24 and me and my wife have owned our house for the past 6 years. It is probably the last house in the world someone would choose as an investment property. The inspector basically told us this but we didnt listen, now I have been trying to sell my house for 7 months or so. I have had no luck doing so and I think it is because of the 3 layers of shingles on the roof and the 60 year old furnace. I could replace these but I think I would lose money if I did so. All houses in my area go for less then $80,000 unless its really exceptional. I recently had to quit my job due to distance (I was driving to Milwaukee every day from Rockford, IL). I guess basically what I am wondering is what I should do? Could I rent this house out??? The main reason I want to get out of here is it is not a great place to raise a family and I have a 16 month old son now. Im just running out of options and trying to figure out what I can do. I know I can probably do something with this property but I dont know what yet. So if someone can give me some options or some books to read or anything it would be greatly appreciated.
Thanks,
Brad