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Updated over 7 years ago on . Most recent reply

User Stats

9
Posts
2
Votes
Will Bumgarner
  • Kittrell, NC
2
Votes |
9
Posts

Advice on pre Civil War property

Will Bumgarner
  • Kittrell, NC
Posted

Hey Everyone,

Im new to the forum and fairly new to real estate. I was wondering if anyone could point me in the direction of success/least resistance on a current home I'm dealing with. I ran an add through social media and recently had a home owner reach out to me with a property located on the VA/NC line that was built in the late 1700's. The house also had an addition added on in the 1820's. In the 1950's someone came through and updated the foundation and other aspects. The house is in somewhat rough conditions to my standards but it has amazing potential. It doesn't have heat or a/c but the electrical was updated 3 years ago and the owner/occupier of the property has made a few improvements including siding, paint, wood rot replacement, electrical. The home owners reached out to me and have agreed to let attempt to wholesale this property. the tax value is 85k an they are asking for 60k. The area's rental market is nonexistent and I'm an hour away from the property so I'm not familiar with the area. I don't think its a rental unit possibility but I see outstanding potential for a fix and flip. Does anyone have any advice for me on how to handle this situation or how I should market it?

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