All Forum Posts by: Michael Brown

Putting out feelers...  I own a duplex (2bed/1ba each) in very desirable Palm Springs location, it's one of the last old homes in area needing a full remodel. Currently have two great, courteous tenants paying $1,100 each, plus utils. (below market rent) Property pays for itself, but rent would easily double after full rehab. I own several other properties, have a great contractor buddy to do the work reasonably, but I've done many rehabs in my day and am unmotivated to do another. This could be a good project for someone who wants to develop some additional equity. Property already has new permitted electric service and 2 new panels, ready to remodel.
Property would sell around $550k as is, closer to $900k remodeled. 
Not looking for lowball time wasters - my finances are solid. I'm wondering if some young buck wants to build equity in prime location like I've already done many times.

Thoughts?