I finally took action and bought a house mid last year in twenty-nine palms on 5 acres of land as a first-time home buyer with plans to live and rent out as a short-term rental. After a contractor screwed me over, it started a domino effect and an endless renovation. I am running out of funds and stressing myself out so much trying to find a contractor that will actually finish the renovation.
I am thinking of selling this via subject to as half the renovation is still remaining, but this would make a great short term rental. Would anyone have any recommendations or know of interest in this?
4 bed 2 bath, 295K mortgage, $400K selling price (ideally)
If you owe $295 and the final value is $400, how much will it cost to renovate? The market is falling and I don't think there's enough meat on the bone.
If you owe $295 and the final value is $400, how much will it cost to renovate? The market is falling and I don't think there's enough meat on the bone.
Get the project done. Beg barter and borrow money from whoever you know until it is finished. Sell, even if you are slightly in the green after paying off all your debtors you still win with a good learning experience. A builder isn't going to do a subject 2 deal. They have money to buy these things and get them done. The people who need subject 2 deals are people who do not have the finances necessary to buy these properties and renovate them.
Get the project done. Beg barter and borrow money from whoever you know until it is finished. Sell, even if you are slightly in the green after paying off all your debtors you still win with a good learning experience. A builder isn't going to do a subject 2 deal. They have money to buy these things and get them done. The people who need subject 2 deals are people who do not have the finances necessary to buy these properties and renovate them.