Would You Do The Deal?
Have a 3/2 home in a decent neighborhood. Renters and home owners on the block.
owe 63k can sell for 80k, more on l/o.
has just dirt in front yard, no grass.
3 windows were damaged when someone broke in to steal the air conditioners & tile is needed in the kitchen.
My initial thought was to l/o in a 'work for your down' fashion allowing them to choose & fix the tile.
Now that the windows are damaged $ will have to be spent to repair but everything else seems to be in good condition.
To those of you skilled in lease options, will the less than perfect curb appeal have a negative effect on the deal happening?
Verb`
I probably wouldn't do a lease/option on it because you usually want the house in great condition for that... Unless you already have a buyer that wants it.
If it were me I'd find out what the after repair value of the house is and an estimate of repairs then see if you can flip it to a bargain hunter.
I have had some of my tenant buyers ask that I look for a house that needs some "sweat equity" put in, to help them get in with either less rent, or option payment. I usually bring this up if their rent range is too low for the type of houses I am picking up, which are ready to move in houses. I have been surprised at the number that are happy to get a fixer-upper, it lets them build their own equity.