Author Topic: Hands down the best flip property of the year  (Read 1782 times)

tralfamadorian

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Hands down the best flip property of the year
« on: December 19, 2018, 12:08:45 PM »
This gem just showed up in one of my Craigslist markets as a handyman special.


hops

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Re: Hands down the best flip property of the year
« Reply #1 on: December 19, 2018, 01:23:28 PM »
What a find! Just slap a little paint on the walls (if you can find them), put in some quartz countertops and stainless steel appliances... HGTV shoppers are always after the rustic look.

Sheepman

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Re: Hands down the best flip property of the year
« Reply #2 on: December 19, 2018, 04:32:40 PM »
I mean, it's got great bones. And without all that meddlesome flesh, you can really see how great the bones are!

Kroaler

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Re: Hands down the best flip property of the year
« Reply #3 on: December 26, 2018, 09:09:38 AM »
Somebody lost their ass on this lol.

I can't imagine what location is required to make that worth the trouble.

innkeeper77

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Re: Hands down the best flip property of the year
« Reply #4 on: December 26, 2018, 09:50:33 AM »
Perhaps the handyman is handy with a bulldozer?

Where in the world was this?

tralfamadorian

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Re: Hands down the best flip property of the year
« Reply #5 on: December 26, 2018, 12:10:19 PM »
It's in a very rural less desirable portion of a county that I track in the mid-atlantic. The lot is probably worth ~20% of what they're asking. I get a smirk every time the craigslist ad is refreshed by the wholesaler and shows up in my email alerts.

Gronnie

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Re: Hands down the best flip property of the year
« Reply #6 on: December 26, 2018, 12:56:20 PM »
It's in a very rural less desirable portion of a county that I track in the mid-atlantic. The lot is probably worth ~20% of what they're asking. I get a smirk every time the craigslist ad is refreshed by the wholesaler and shows up in my email alerts.

I'm not a real estate investor, but this place is likely worth less than the lot value due to the demolition needs, right?
« Last Edit: December 26, 2018, 01:28:07 PM by Gronnie »

tralfamadorian

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Re: Hands down the best flip property of the year
« Reply #7 on: December 26, 2018, 01:13:18 PM »
It's in a very rural less desirable portion of a county that I track in the mid-atlantic. The lot is probably worth ~20% of what they're asking. I get a smirk every time the craigslist ad is refreshed by the wholesaler and shows up in my email alerts.

I'm not a real estate investor, but does place is likely worth less than the lot value due to the demolition needs, right?

Indeed. It would be worth ~ lot price - demo - environmental cleanup (ex: old oil tank) - hassle of doing all this crap instead of buying a piece of hay field next door.