Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 11 years ago,
Interesting seller scenario
I have made the acquaintance of a homeowner who wonders if there is a way to responsibly get out of his home without cleaning it, making repairs, selling his belongings, etc.
He owes $114K; he says homes in his neighborhood sell for $130-$140K. It is in an excellent school district and would probably rent for $1500.
The home is full of "stuff" that he doesn't want anymore, but he says that if someone took the time to sell everything on craigslist, it would be worth several thousand dollars. (Audio visual equipment, expensive bed, appliances, etc.) There is a dead tree that needs removing and he said the attic needs insulating because the A/C can't handle Texas summers right now.
Is this something an investor would be interested in? I know the numbers don't make sense as a flip, but is it a good buy and hold deal? Would investors want to deal with a houseful of personal belongings?