Updated about 5 years ago on . Most recent reply
Free House in IA
Sounds crazy, but it is legitimate.
I came across an ad that stated the house is free, but it needs to be moved. If you can move it you can have it. So, I went to take a look at it and figured it would probably be best suited for fire fighting practice, it wasn't. The house is actually nicer than the house I am living in.
Here is what I have figured out so far.
House $0
Building movers $20K
Acreage 1.6ac lot $10K
Utility hook ups $10K
Foundation for house $10K
Misc. repairs after move 5K
Closing costs for construction loan $5K
This house on a small acreage should easily sell for $100 - 110K. Am I missing something or is this an investment worth pursuing? If it didn't sell, I could rent it out for somewhere in the $800/mo range.