Trading One House for Another
I am entertaining an idea and would love to hear back from those who have any thoughts to this matter.
I own 2 houses in the Arcadia area. One is an 11000 soft house sitting on a little over 8000 sqft. North facing lot. The secco d is in “Arcadia lite” and is is around 1300 sqft. and it sits on around 7500sqft corner lot facing East. Both reside nNorth of Osborn ,South of Campbell between 40th St and 50th St. Each face Camelback Mountain. Scottsdale school district, one Hopi the other Tavan. Decent locations, No money owed on either. Both tear downs.
I am considering selling one and buying a larger one nearby. Obviously, this would be tricky to sell and buy in same area without selling both or borrowing...I would be priced out
What I am thinking is finding an investor who has bought a home in the area with the intentions of tearing down and building new. This property will be a bit further out that the location but not too far. Let’s talk about a trade. Both houses would be of similar equal value so I don’t see why there would be any legal issues. It would benefit me with a larger house not too far away preferably in better shape and investor benefit from a more desirable location for a lower price.
i realize there are quite a few options out there which would be more profitable or ability to own in a more desirable area. I’ve considered just about every possible option that would accommodate the unusual circumstances of my situation. I think this would be me best bet. I’m sure this type of deal happens quite a bit. What are your thoughts.
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