easement/snow removal, bad floor plan, trees, parking, side of a hill, owner financing cfd? 3 BR 1 bath
Seller has 3BR 1 BA with no garage. house been sitting on CL for maybe 6 months. He wants $45,000. He paid $28,000 in 2005. Rent in the area is $750. after doing some stuff house is probably worth $40,000 (add bathroom, take out trees, add guard rial). taxes are about $800 a year. Utilities run $150.
He is willing to do CFD 20% down with 4.5% interest.
Issues:
Has easement with neighbor through dirt/gravel drive. Drive goes right out to busy 4 lane road. Snow removal just buries/blocks the drive. neighbor says he is a fan of 4 wheel drive. Another building also shares the easement. Anyone have good ideas? only rent to 4 wheel aficionados? Seems like this is probably the biggest challenge other than it being on steep hill.
Neighbor said one renter slid off the drive and landed on top of his car. Neighbor is down side of retaining wall Thinking guard rail for this one.
bad floor plan- one bedroom only has access through the only bathroom or through another bedroom. Thinking add a bathroom. Make the bad access room en suite with the bathroom.
House is on fairly steep side of a hill. Water and dirt roll toward the house. Not seeing how to fix this one. Just live with it?
House has 20 trees surrounding it that block the sunlight. I'm pretty sure no one would want to live there except for maybe someone allergic to the sun. Cutting out the trees would give an ok view of the river. But would be way expensive. even at $500 a tree still $10k.
He did a nice job on fixing the place up. He updated the bathroom/plumbing and looks like he did good job. Updated kitchen painted well decent floor windows new in 2005. Always heard terms are more important than price. & he is willing to carry financing but with 20% down. Pretty sure answer is NEXT. But, thought it would be interesting on how others might fix the obstacles on this one. I think I could get it to cash flow but not if the tenants couldn't get out the drive to go to work to get money to pay me. Not sure how I would sell if I ever wanted to.
Input appreciated.
Kirk