House by the Highway

[John Voirol]

I found a potentially great short sale deal and am calling on your collective advice. The house is in a great neighborhood with a pretty good school district. There's plenty of room in the numbers rehab and flip it. My concern is...it's right next to a major highway. It's separated by a sound wall, and everything looks very nice. In the 5 months it's been listed, the price has dropped by 40%.

I'm concerned about holding costs in the event it takes a while to sale. Has anyone flipped a house near a major highway? What was your experience in getting it sold? Thanks.

[Josh C.]

I agree with John. If the price is right it's still a deal, just lower your ARV accordingly. Only you will know if that's 8k less or 30k less.