Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

5
Posts
0
Votes
Justin H Harstvedt
  • Real Estate Agent
  • Santa Rosa Beach, FL
0
Votes |
5
Posts

Interesting off-market rehab. Thoughts?

Justin H Harstvedt
  • Real Estate Agent
  • Santa Rosa Beach, FL
Posted

The beautiful home came to a halt halfway through construction. Sounds like the county shut down construction due to elevation or possibly FEMA issues. The owner seems to have just moved on emotionally and cut his losses but would like to get as much out of the deal as he can manage. This is way out of my expertise level. I don't even know where to begin to see what it would be worth an investor to pay because I don't know if the structure needs to be demolished or if it can be salvaged. He originally thought it had to be torn down and wanted 450k for just the land but now seems to be under the impression that it can be completed and tells me he thinks he can get 900k for it. The property is in a fantastic location on St. George Island, Florida. I'm at a loss on how to proceed.

Most Popular Reply

User Stats

216
Posts
209
Votes
Bill J Fay
  • Lender
  • San Diego
209
Votes |
216
Posts
Bill J Fay
  • Lender
  • San Diego
Replied

The property is beautiful, the structure looks... otherwise. From the photos it looks like it needs to come down. The overall construction is odd especially compared to the two other homes adjacent. I would reach out to the city's building department to get the full picture before even entertaining an offer. Do not take the seller's word. Do you have an agent in the area? They should have a better idea as well.

  • Bill J Fay
  • Loading replies...