Flip or rehab to rental scenario in Toledo
Because of confidentiality, I'm limited on what information I can give at this moment, so I know there are a lot of variables that would determine if there would be any interest in this specific property or not. Just hypothetical at this moment.
It's located around the area of Airport Hwy and Fearing Blvd. Doesn't look like the prettiest area, so I assume more of a rental area than a fix and flip area. But I don't know the market.
Roughly 1,500 + SF, 3 bdr, two story on a corner lot. From the exterior photos I have it looks like it would need siding, windows and landscaping now to be presentable, and probably a new roof in the not-too-distant future. It is occupied, so I assume the inside is at least in livable condition. Supposedly updated electrical and plumbing in the last 10 or so years.
I would want to sell it only to an investor on a land contract for somewhere around $12k with $1,500 or so down. They would be able to inspect the property before purchasing so they wouldn't be going in blind like me. Does it sound like something there could be enough room for somebody to make some money on buying it like this, assuming it's not about to fall over or need a complete remodel?
I'm mostly interested in selling on a land contract since it's really the only way I'll make money on it while selling it for a price I can move it quickly. Also only interested in selling to an investor because I don't want to end up selling it to somebody I'll just have to take it back from in worse condition.
I appreciate any and all input! Thanks!