Would You Buy This House? Why/Why Not

Question

This is a house I am trying to sell, my exit strategy is to flip it to an investor, I am not getting any hits on my marketing campaign. I need some suggestions.

The house: http://www.postlets.com/repb/8916907

Sam W. · Answer

I agree with others...I would work on the written description to make it flow better and appear more professional.  I would also get better photos.  These look like they were cut-and-paste from another website or document.

Also, in looking at what is competing against you on MLS in the Ashland area, there are other very appealing properties for the buyer looking for a vacation home in the same price range:

http://www.realtor.com/realestateandhomes-detail/20-Evergreen_Ashland_Ny_M47503-99482

http://www.realtor.com/realestateandhomes-detail/87-Vare_Ashland_NY_12407_M34718-06585

Prashant P. · Answer

You are stating the ARV is $249,000.  If I were in your area looking for a rehab, I would not contact you about this house.  By looking at your pictures I do not see anything that needs to be repaired.  I find it hard that some paint and carpet is going to get me $30k.

Also as one of the other posters mention, it looks like a double wide on a foundation.  Are your comps from actual slab and frame houses or manufactured homes.  Manufactured homes don't carry the same value a slab and frame homes.

Nuhan Demirkan · Answer

Hello Shawn,
I am assuming you are looking to wholesale this to a cash buyer. Have you done the pricing analysis to see if there is money to be made to a cash buyer or did you check the rental rates to see if it will cash flow to a landlord and at what rate? That would be the first item. Second, is the web site your only means of marketing? Are you reaching out to potential investors thru direct mail, phone calls, going to REIA meetings to market the house?
Third, are you positioning this opportunity correctly? How are you pitching the deal? 
An investor can look thru the clutter and the mess if there is real money to be made. I suspect if you're not getting responses it is in one or all of the above three items. Re-examine the deal, the marketing and the pitch, you'll find the reason.

Patrick L. · Answer

Doesn't even look like a house to me....just a trailer.  It's been on the market in the mid to low 200's for about a year, what makes you think an investor is going to see that as a great opportunity to turn it for a profit?  Probably overpriced for what it is.

Ryan M. · Answer

It's a double wide on a basement, is it not?

Anthony Liberati · Answer

1)  Just a few things looking through it.  I would not want to buy from a website that has grammatical, spelling, or any kind of errors.  
2)  The pictures are very blurry and the decorating is a little off.  --remove unnecessary items and organize what is left on the tables
-allow more light into 
3)  To me it looks like you are using a very generic website form and in some spots are just filling things because there was an empty spot somewhere.  Spend the time to work on your website template now and it will improve every prospect in the future.
4)  It looks like the pool is in terrible condition.  In the one picture the right side of the pool looks to be almost at a 45 degree angle.  If in fact it is alright then remove the water from on top of the cover and take a picture from a different angle.
5)  In all I would suggest using a different camera and possibly hiring a home stager just once to see what they do and ask why they are making every change they are so you can do it in the future.

I am by no means an expert but I do have extensive knowledge in almost all areas of business.  Remember appearance is everything.  In almost every situation it does not matter if you know what you are doing at all, as long as the person you are trying to sell to (in any regard) thinks you do, you will be all set.

Just my $.02

Bob C. · Answer

Looks like a trailer or prefab.  Not for me.

Donald Hendricks · Answer

No.   Not for personal or investment, the reasons are the same.

It is a trailer

It has a pool

It sits on 2 acres

Shawn Taylor · Answer

Thank you for all the suggestions, they are all good information.

James Hiddle · Answer

If it's been on that market for over a year than that should tell you that the price is way off. You would probably need to reanalyze this and come up with a better price point.

On top of that I would suggest getting better photos as the ones there look like they were taken with a poor phone camera.

Would You Buy This House? Why/Why Not

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