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Jims5543 Jims5543 is offline
I'm with Bill
 
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Join Date: Feb 2005
Location: Jensen Beach, FL
Posts: 13,028
Real Estate hell, what to do?

I will try to keep this simple and short.

- Sept. 2004 my off was destroyed by hurricane
- I moved to a little 15x30 room from a 1200 s.f. office
- lack off office space drive available prices way up
- Dec. 2004, I buy a house on a 4 lane road and move office
- Dec. 2005, City tells me I cannot have business there and force me to move out.

- I put house up for sale, house is still for sale.

I purchased the house a 2/2/2 on a corner lot for 189K in Dec. 2004. I listed it for sale for 249K in Dec. 2005 just for kicks to see if anyone would bite.

No bites, house has been reduced to 219K and I am about to drop it to 189K just to ge tout of it. I did not but it to flip it.

The city has been very uncooperative in all this, many place have zoning for Professional Residential this city does not.

Honestly, I have been renting it out and the tenant had junk cars trailer homes, old jet skis and trash all over the yeard, the house look 100X better when I had a business in it.

So now the house is empty. The tenant moved out.

What do I do?

Do I spend some money remodel the kitchen (it needs it bad) do the landscaping up real nice.

Or do I just discount the price for a big loss and try to get out of it.

I owe 150K on it putting 38K down on it. I am now loosing $1500 a month unless I rent it again and then I can only really rent for $1000-1200 a month.

Suggestions?
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Last edited by Jims5543; 02-01-2007 at 09:44 AM..
Old 12-05-2006, 06:50 AM
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