Free House in IA

[Shane Caraway]

Sounds crazy, but it is legitimate.

I came across an ad that stated the house is free, but it needs to be moved. If you can move it you can have it. So, I went to take a look at it and figured it would probably be best suited for fire fighting practice, it wasn't. The house is actually nicer than the house I am living in.

Here is what I have figured out so far.

House $0

Building movers $20K

Acreage 1.6ac lot $10K

Utility hook ups $10K

Foundation for house $10K

Misc. repairs after move 5K

Closing costs for construction loan $5K

This house on a small acreage should easily sell for $100 - 110K. Am I missing something or is this an investment worth pursuing? If it didn't sell, I could rent it out for somewhere in the $800/mo range.