The Money Mustache Community
Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: tralfamadorian on December 19, 2018, 12:08:45 PM
-
This gem just showed up in one of my Craigslist markets as a handyman special.
(https://images.craigslist.org/00K0K_jo3LTMVQAAL_1200x900.jpg)
-
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.
-
I mean, it's got great bones. And without all that meddlesome flesh, you can really see how great the bones are!
-
Somebody lost their ass on this lol.
I can't imagine what location is required to make that worth the trouble.
-
Perhaps the handyman is handy with a bulldozer?
Where in the world was this?
-
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.
-
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?
-
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.