what i should do with inherited house 10k taxes

Question

With foundation n roof repairs plus back taxes what actions do you think would be good for while also getting into real estate? Please help

Aaron Hunt · Answer

Sell it to me for $10k - cash.

Scott Mac · Answer

If you need the cash for the repairs and taxes maybe get a Temp Job from a Temp Place.

There are 7 days in the week you could work towards this and getting the place in rent ready shape for only a few thousand dollars worth of spare time work is a GREAT opportunity to get a monthly rent check coming in with no mortgage.

Just my 2 cents.

Jay Hinrichs · Answer

sell grab your stepped up basis in cash and then redeploy

Nick C. · Answer

This depends on so many things, so it will be tough to give advice without knowing your situation or anything about the house.

If the house is worth more than the back taxes and the repairs and you have the money, pay the taxes, fix the house up and sell it or rent it out.

If you don't have the money, sell it to an investor. You can use that seed money to hopefully get going on a house that's in more rent ready condition.

what i should do with inherited house 10k taxes

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