Brandon, FL · Member since 2014 · 29 posts · 5 votes
I am in the process of doing a cash out refi to 15 on my primary residence. My appraisal came out about 10k higher than I had hoped. Appraiser said it would have been higher had my neighbors house not been such a dump. She needs a new roof, paint and garage doors at minimum. I have no idea what the inside is like. She is rarely home and I think she stays at a boyfriends place most nights. The yard is always overgrown and I cut her front lawn more often than she does as it makes my house look bad.
So, the question is should I consider buying it to hold as a rental? I plan to rent my place out in the future and will not be there forever as I want a place closer to Tampa Bay for my boat.
Has anyone been in a similar situation? We are not "buddy buddy" as she is kind of a reclusive lady and is not very social but we are also not enimies by any means.
Do you think it would be awkward putting in an offer on your neighbors house? You also said you don't plan on staying there for the long, so I would go for it.
Yes, it would be awkward, but I don't think I would let it stop me. I would stay 4-5 years max. I need to think on how to approach her on the subject. Thanks for the reply
@Kerry Hennessy there is no harm in putting an offer in as long as you get it for the right price. I would recommend instead of cutting her lawn, call her into the city. She may be more motivated to sell in the future if the city is bugging her about her property care.