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Updated almost 11 years ago,

User Stats

92
Posts
26
Votes
Jessica G.
  • Investor
26
Votes |
92
Posts

Interesting seller scenario

Jessica G.
  • Investor
Posted

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?

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