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Updated almost 18 years ago on . Most recent reply
Young and stupid.
Hi im new to this forum and real estate investing. Im 24 and me and my wife have owned our house for the past 6 years. It is probably the last house in the world someone would choose as an investment property. The inspector basically told us this but we didnt listen, now I have been trying to sell my house for 7 months or so. I have had no luck doing so and I think it is because of the 3 layers of shingles on the roof and the 60 year old furnace. I could replace these but I think I would lose money if I did so. All houses in my area go for less then $80,000 unless its really exceptional. I recently had to quit my job due to distance (I was driving to Milwaukee every day from Rockford, IL). I guess basically what I am wondering is what I should do? Could I rent this house out??? The main reason I want to get out of here is it is not a great place to raise a family and I have a 16 month old son now. Im just running out of options and trying to figure out what I can do. I know I can probably do something with this property but I dont know what yet. So if someone can give me some options or some books to read or anything it would be greatly appreciated.
Thanks,
Brad