Home Sweet Home No More

[Sharron M.]

Hello everyone!

I am very close to my divorce becoming final and we own a house together. The home is livable but could really use some updates in the kitchen & baths, new windows and flooring, a new deck, some interior paint, and some landscaping. I had an investor come out and look and he said it needed about $60-$65K worth of work. If we worked with him, we'd only get $2400 at closing to split between us. 

Based on my experience, I believe the fixes can be done for about $25K-$35K. It's a small house (1081 square feet) in a desirable area, on a premium lot (a little over 1/4 acre) on a cul-de-sac. Rentals in this area start at $1500 and go up to $1800. My only issues are that I'm in Chemo treatments at the moment (I have people to do the work), on leave from work due to COVID-19 (I work in the school system), and have no savings to buy my ex out and complete the needed repairs. 

We still have a mortgage on the home of about $149K and a comparable home in good repair sells for $185K-$195K in our area. My question is, Does anyone know of any Private Money Lenders or investors who would possibly work with me, or is this a dead deal? I am open to selling outright at the end if that would make the deal more attractive. This could be my first investment property!

Looking for any creative ideas and suggestions you could help me with. Thanks!

[Robin Krieb]

@Sharron M. I just want to say that I'm so sorry to hear about your divorce and your medical issue. I know that's not why you posted, but at this time I feel like kindness and compassion are important. Sorry I don't have an answer to your question. Be well!