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I'm with Bill
Join Date: Feb 2005
Location: Jensen Beach, FL
Posts: 13,028
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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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1978 Mini Cooper Pickup
1991 BMW 318i M50 2.8 swap
2005 Mini Cooper S
2014 BMW i3 Giga World - For sale in late March
Last edited by Jims5543; 02-01-2007 at 09:44 AM..
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