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Fixer-upper in Boston suburb - Posted by walter
Posted by walter on June 08, 2004 at 05:43:53:
I, along with my siblings, have inherited from our father a very large two family Victorian in Quincy, Massachusetts just 10 miles south of downtown Boston. The house is located in one of the most desirable sections of the city. Ideally we would rent both units and utilize a large portion of the rent to help pay the monthly debt on another property(s). Here is the rub: this house definitely falls under the category of “fixer-upper” and recently it was suggested we just sell it “as is” because it may not be worth sinking a lot of money in to it. My feeling is this is just the kind of house an ivestor would be drooling over, so why would we want to get rid of it.
What is the smart move here? We all have investor’s attitudes and, even though this is our childhood home, we will make objective decisions. I guess we can go one of three ways: We can sell “as is”, We can sink money into it and then sell it and make more money at the end, or we can sink money into it and get high rental income.
What would a smart REI do?
Gratefully
Walter
Quincy, Massachusetts
Re: Fixer-upper in Boston suburb - Posted by Yana Shmitova
Posted by Yana Shmitova on July 01, 2004 at 15:19:04:
Hi, if you decided to sell a house what would be your price range?
THanks
Re: Fixer-upper in Boston suburb - Posted by momo
Posted by momo on June 08, 2004 at 13:52:06:
…And if you don’t have the time, patience, or cash flow to do the work yourself, email me and I might buy it!
Re: Fixer-upper in Boston suburb - Posted by DE
Posted by DE on June 08, 2004 at 06:49:05:
If you’re well established and don’t mind the “headaches” of landlording, fix it up and rent it out for some nice cash flow each month.
If you want some good cash, fix it up and sell it for a maximum price.