80k rehab, Commerical/Residential in Hattiesburg MS. ARV 150k

[Ted Buffington]

This is a large rehab job on a large house that was used as a daycare.  Zoned for commerical and residential.  2800+ sq ft, 4 bed 4 bath.  I am selling my contract to purchase this home, the owner knows this.  

PRICE: 15,000

The Bad: Has 4 water leaks as of the last time I had someone out there which was around April 2017.   The kitchen floor is "bouncy" from water leaks.  Estimates for the rehab have been 60k-80k.  One guy went out there and spoke to a contractor at the site 2 months ago who told him $80k as well, so this is a solid number.   I was told it has  an asbestos roof by someone.  taxes for the last few years are due, totalling just under $10k now.  I called and verified this myself.

The Good: Its near a college, and will rent easily once rehabbed.  Its a large place in an area with higher priced homes.  I had a couple people interested back in March/April when I first tried wholesaling this, but the job was simply too big for them.

Contact me to check it out.  Im doing this from Michigan and the property is in Hattiesburg Mississippi.  I can get you access to view it when necessary.  Its a great deal for someone who can handle the work.