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Updated about 8 years ago,

User Stats

37
Posts
5
Votes
Michael Prakash
  • Real Estate Investor
  • Castro Valley, CA
5
Votes |
37
Posts

Turnkey Properties still not rent ready

Michael Prakash
  • Real Estate Investor
  • Castro Valley, CA
Posted

In July this year, I invested around $160,000 for 3 single family turn key homes in Farrell and New Castle, Pennsylvania with a foreclosure company. To date the properties are still not rent ready It is close to 6 months since I purchased these properties. I am paying thousands of dollars for these vacant buildings for water, gas, electricity, oil, insurance, taxes, sanitation etc. These hookups were made under the assumption that the homes were almost rent ready. One of the home's water bill is for $1607 for a month and a sewer and Sanitation fee is for $700 for a month for the vacant property. Could anyone suggest what recourse should I take? These investments were made from my IRA Funds.

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