I went and checked out this house. It’s got a cobblestone basement that’s not in good shape, so no one can get a mortgage on it.
Not a bad 2 bed 2 bath with 2 car garage and large yard. The floor on the first floor was tiled incorrectly, so there’s bad cracks that make the house look like it’s not structurally sound. Fortunately, I’m friends with a structural engineer that checked into it for me. The place will stand for at least another hundred years.
Oh, and like most houses in Providence, the copper has been stripped…but that’s an easy fix too.
If I had the cash, I’d make this an investment property and rent it out.
If you think it is an opportunity, keep an eye on it. It is commonplace for undesireable/unmortgageable property to fall below the value of a vacant lot.
I went and checked out this house. It’s got a cobblestone basement that’s not in good shape, so no one can get a mortgage on it.
Not a bad 2 bed 2 bath with 2 car garage and large yard. The floor on the first floor was tiled incorrectly, so there’s bad cracks that make the house look like it’s not structurally sound. Fortunately, I’m friends with a structural engineer that checked into it for me. The place will stand for at least another hundred years.
Oh, and like most houses in Providence, the copper has been stripped…but that’s an easy fix too.
If I had the cash, I’d make this an investment property and rent it out.
If you think it is an opportunity, keep an eye on it. It is commonplace for undesireable/unmortgageable property to fall below the value of a vacant lot.