Posted by John Dixon on May 10, 2001 at 18:57:49:
Sounds like a good idea. Thanks for the help.
Bad Building - HELP !! - Posted by John Dixon
Posted by John Dixon on May 09, 2001 at 20:47:22:
I am stuck with a small apartment building in a bad area. After I rehabed it, vandals broke in a wrecked the place. I wont try that again. It is unrentable. Advertising it for sale brought in zero replies. I sent letters to 12 organizations that accept real estate donations. No one wanted it. I let it go to tax auction, but no one bid on it. Now the city is putting pressure on me. Some expert out there must know a way to get free of this tar baby ?? Please HELP!
Church groups…Habitat maybe? - Posted by Terry
Posted by Terry on May 10, 2001 at 12:14:09:
(Thinking outside the box here.) Perhaps a local church group might be interested, or even Habitat for Humanity. Such a group might be interested and able to rehab it and put decent people in it, maybe co-op it.
Re: Raise the price - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on May 09, 2001 at 20:57:43:
People are afraid of anything that is “too cheap”.
Join your local real estate investors club. Prepare a circular that says “fixer upper”, $500 down payment, with owner financing on the balance (make sure that they get the deed). Set any price that you want for the balance like $2,500. Charge a reasonable amount of interest, perhaps 10%.
Pass out lots of circulars, and let them negotiate with you.
One more thing, at the end of the circular type in “no credit check”.
Re: Where are you located?NT - Posted by John Dixon
Posted by John Dixon on May 10, 2001 at 18:41:34:
The building is located at 1621 W. North Ave. Baltimore Maryland. It is about 200 feet from the Penn-North subway station.