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Updated over 6 years ago on . Most recent reply

Mike O.'s profile image
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Mike O.
  • Flipper
  • from Mitchell, South Dakota
  • Member since Mar 26, 2017
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Mike O.'s profile image
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Mike O.
  • Flipper
  • from Mitchell, South Dakota
  • Member since Mar 26, 2017
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Mike O.
  • Flipper
  • Mitchell, SD
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Buying & Selling Real Estate

Terminally ill seller

Mike O.
  • Flipper
  • Mitchell, SD
Posted
Came across a seller with terminal cancer. Would like to sell their house. House is in disrepair. My initial estimate is at $80,000 to rehab. Current value as is probably $25,000. Problem is mortgage is $50,000. Anyone know of a way to tie up this property or a structure ARV in area would get $175,000> (I live in area). Just looking for ideas. Thank you
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Dennis M.#5 General Landlording & Rental Properties Contributor
  • Rental Property Investor
  • Erie, pa
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Dennis M.#5 General Landlording & Rental Properties Contributor
  • Rental Property Investor
  • Erie, pa
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80 grand sure is a lot of money to put into a 25 grand house in disrepair . Are you sure you want to even do this deal ?

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