I contacted an owner about a house that was vacant. Turns out that he was not interested in selling the house that I inquired about but had another property he would consider selling. To my surprise he was an investor.
He said he had a house that he bought a few years ago for under $100,000.00. He gutted the entire house and was planning on redoing it. The RV is $ 280,000.00 when finished. He said if I was interested he would make me a deal. He would rather make a profit and not have to do any more work to it.
My husband and I looked at the house ( well what there was to look at with no insides). It is a stone rancher on a great road with several horse farms. The property has 4 1/2 wooded acres and is well...a mess. But most of the work has already been done. The gutting and removal is 1/2 of the work on a rehab. We saw the potential that it had. We would even consider rehabbing it for ourselves.
I have $0 and cannot currently get financing. How can we get creative and purchase this home? How can we get the capital needed to fix it up? I have been focusing on assignments and have never considered actually purchasing a house until now.
Any one ever done a deal like this?
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
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