All Forum Posts by: Adam Soyak

I am selling a SFH that is currently under contract. It is contingent on the sale of the buyers house. I have been informed that the home that is being sold might not sell for a couple months. Instead of letting the deal fall thru, I am contemplating doing a Rent to Own structure to the buyer. I am new to this type of deal and am looking for advice on how it should be structured to protect my best interest and still have the deal go through. Thank you!

My investment house's square footage per my property survey is approximately 1600sqft.  When I calculate my inside room dimensions I am at approximately 1400sqft.  The county assessor has the property assessed at the 1400sqft.

Can I market my property at 1600sqft?  

Thank  you in advance!

@Nate Shields -Waiting on warmer weather for the driveway.   Once I get a couple of warm days we will pour.  In addition, the landscaping is a must before I list it.  House I really lacking curb appeal.  I dont think offering a  credit to the buyer for landscaping is going to help my bottom line. The return will be much greater if it is completed prior.  Congrats on getting your contract accepted!

@Lucas Machado I agree with your school suggestion.  This neighborhood is family oriented so it definitely will be listed early spring worse case.

Thanks everyone!  Seems like the majority say list it!  That's what I will do!  I'll let you know the results.

My first house flip will be completed by the end of December.  I was planning on putting it on the market at completion, but I have been told by others to wait until February/March to list it due to buyers not typically biting during the winter months.  It is located in New Lenox, Illinois (SW suburb of Chicago).  Current inventory is low for the 200k-250k homes.  I'm anticipating my home in the 230k-250k range.

In addition, currently the property is in need of a new paved driveway, sidewalk, and landscaping, Do the winter weather I am unable to complete at this time. 

1. If I am listing now do I include that a driveway, sidewalk, and landscaping will be  completed in the spring for the new owner and include those adds in my asking price?  Or do I lower my asking price to exclude those items?

2.  Do I wait to list for early spring?  I can handle the holding costs for $4k for the next 3 months, but will it be worth the wait?

Thank you everyone!

@Samantha Klein, thank you very much!  bottom panel is a different shade of brown so I have to repaint the entire door unfortunately.    

 What do you suggest for the door color?  Thanks Don!

Decided to go with a window, because house might be sold rather than rented.  Here is a photo.

Originally planned on matching the door color with the siding but does that look to bland?  Original door color is brown and doesn't look to bad.  Just looking for opinions before i have them paint the door.  Soffit/facia are being replaced to white.

Thank you!