My cousins relative is selling his home for VERY cheap, it’s not in great condition, should I do it?
This man is in his early 80s and lives in a retirement home (by choice). One of his homes near the university campus is in horrible condition. My mom and dad have remodeled their houses numerous times, and I think they could help out more than a professional could.
It would need all new piping, electrical work, as well as some plumbing to fix it up. A little bit of remodeling here and there too.
He wants to sell it to just pay the taxes off on it ($ 2k) if he were selling it to immediate family, maybe a bit more for me.
Should I look into it for more information than I was given? I rented a house w/3 other girls in the same neighborhood @ $ 400 month. This would be investment and a potential income maker in the long run.
The roof will eventually need replaced as well. No termites and I can’t recall ever seeing water damage.
The total rent that I paid was $ 400 in the neighborhood, 1600 total.