You would have to checkcalled on the zoning for the area in which this land is located. Typically, a so-called "mother-in-law" apartment is not a legal rental unit, but could be subject to some municipal requirements. Have you thought about building a two-unit, maybe a side-by-side or a duplex? This would give you more value, probably not cost you more when you are building, and then you would have a legal, rentable second unit. You might want to look into it. Have your agent check the possibilities for you. Liz, 612-986-4105.... more
My understanding is that you want this scenario:
1. You get someone else to use his/her credit to buy this home;
2. You take on the responsibility for the home - finding tenants, creating rental agreements, collecting deposits, rents, other appropriate fees, maintaining the property, etc;
3. You manage all the details, making sure the investor's interest is protected...
What's wrong with this picture? You have no interest in the property and while you might be able to effect an agreement to handle all this for your investor, you would not profit, unless he/she was agreeing to pay you for your services. This creates a fiduciary responsibility and one you might not want to accept with no ownership or compensation. I don't see this scenario working out well unless I am in error and some other picture applies.... more
2623 is what is listed on the mls. It sold in January this year. Are you looking to buy a home in Big Lake? I actually live in Big Lake. Feel free to call or email me with any questions. Thanks!... more
Ugh! That is sad.
I have a simililar story. Although I didn't build it, it was my first house and I but a ton of work into it. After I sold it went into forclosure. I went to see it and the copper pipes had been stolen and some of the original character of the house stolen, (stain glass windows, wood work, doors, etc.) It sold for $30,000 a month ago and I bought it 2000 for $95000 and sold it for much more then that..... :(... more
Not all foreclosed properties are reposted in MLS , at times investors purchase in "lots direct from bank after foreclosure"
It can take a few days up to months prior bank prepartion have property returned to market.... more
It is truly sad what has happened to so many homes in the wake of this foreclosure crisis. This is only one of many that have been abused. When you build and care for a home, seeing such disrepair can be heartbreaking. Glad you have photos and good memories of your former home.... more