Yeah, it’s one thing if it’s in a nice location and well maintained…
But good chance it’s got some serious issues because they haven’t fixed anything in decades and no one wants to live there, so you might be 50k in the hole for things before you can even show it to serious prospects…
Or take the hit and sell it as-is to some crappy company that will probably underpay by 200-400k dollars, even accounting for all the “repairs” (probably just blast everything with paint and hope to sell it to some sucker that doesn’t take the potential problems seriously).
Yeah, it’s one thing if it’s in a nice location and well maintained…
But good chance it’s got some serious issues because they haven’t fixed anything in decades and no one wants to live there, so you might be 50k in the hole for things before you can even show it to serious prospects…
Or take the hit and sell it as-is to some crappy company that will probably underpay by 200-400k dollars, even accounting for all the “repairs” (probably just blast everything with paint and hope to sell it to some sucker that doesn’t take the potential problems seriously).
They’d make it a rental property more than likely. These companies are buying up homes in general to do that.