COULDN'T PASS THIS UP... BUT HELP!

[Christopher Cahill]

Hello. My name is Chris and I live in Dayton Oh. I'm basically here to ask for any and all advice. I have been a contractor now for almost 15 years and have owned my own company here now for 11. I recently came into a deal I could not pass up. My long time friends parents owned a house here in the historic district since the 70's. The home was built in 1864 and is amazing granted it needs some work. Long story short, the dad passed away, the mom moved on, and my friend stayed awhile but had personal issues and had to move away. The mom offered the home to me to buy at a ridiculous price. The home was valued in June of this year at 188k. I bought it for 40 with pretty much every dollar I had. The house was in shambles from previous renters with 11 tons of clothes,bedding, and trash we already removed. The home needs a LOT of work!! In any other circumstance I wouldn't have even been able to afford this project, but like I said I couldn't pass it up. The homes on either side of it are valued at more than 300k as they are already remodeled and in fantastic living condition. I've already had folks in the area asking if I'm interested in selling it. SO WHAT WOULD YOU DO? Do I just clean it up for a quick sell and use the money to invest in a property that's more suitable to my wallet right now? Any advice is greatly appreciated! I would love to use this opportunity to really push me forward into a future of buying and flipping homes. THANKS!

[Jay Hinrichs]

you answered your own question... if you can make 100k selling as is or you have to put 100k into it to make 100k net.. that is a no brainer no need to ask anyone you have that figure out..

take the money count your blessings and move on..