WHAT WAS THE LAST THOUGHT THEY HAD?
I received a phone call recently, from a real estate agent whom I had not worked with before. She had a listing for a home which had a lot of problems and could not be financed by a conventional lender. I assured her that there is a special financing program called “Fix and Flip”, specifically for such kind of properties. I prepared a special flyer describing the way the program works, and received a number of calls from the potential buyers. However, when the dust settled, there were thirty-six offers, and the property was sold for cash, well over the listing price. Some call that types of property a contractor’s dream. The feasibility of such projects depends on different factors. One of them is the cost of the financing, which is often ignored because of the stiff competition.
I thought about this during our recent trip to North Carolina. During the last two days my wife and I stayed with our friends in the small town of Mars Hill. Their house is located in the countryside, surrounded by forests and meadows. While driving around, our friend Richard pointed out many homes and barns that were abandoned by their owners, really creating contractors’ dreams, but not many takers. He told me that when he drives by, he often thinks “What was the last thought the owner had before leaving?”
When I was thinking about writing this story, I was considering showing you the images of some of the dilapidated buildings, which I specially photographed. Instead, I decided to share three images showing the beauty of the area, including our friends’ house and one contractor’s dream.
Enjoy and Share with a Friend!
