SkyHog
Touchdown! Greaser!
- Joined
- Feb 23, 2005
- Messages
- 18,431
- Location
- Castle Rock, CO
- Display Name
Display name:
Everything Offends Me
I have an opportunity that I don't want to pass up on if it's as good as I think...here's the deal:
40 acres of land with a 3000sqft home, very cheap. The land looks decent, is treeless aside from some vanity trees around the home.
The house is in pretty bad shape, looks wise. Lots of windows need repair, the carpet needs to be replaced and the siding, where it exists, needs to be replaced too. There is a separate mother in law quarters that is roughed in but has no interior walls or drywall. There is a separate workshop that is in really good shape.
So, the value of the house should severely reduce the price of the land, but I don't know how to value the other buildings and the land itself to make a decent offer. Clearly, the guy is asking too much (he wants 400k, at first glance I am thinking it might be worth 300, tops and probably less if the other buildings aren't worth much in value).
So...how would you proceed? None of the damage in the home is beyond my ability to fix, and the home is structurally sound. But if I had to hire a professional to fix it, there is probably a good 100,000 in repairs needed (10-15k by my own hand)...
Edit: also, what should I be looking for in the 40 acres, if my plan is to raise chicken, pigs, and steer (for consumption, not sale)?
40 acres of land with a 3000sqft home, very cheap. The land looks decent, is treeless aside from some vanity trees around the home.
The house is in pretty bad shape, looks wise. Lots of windows need repair, the carpet needs to be replaced and the siding, where it exists, needs to be replaced too. There is a separate mother in law quarters that is roughed in but has no interior walls or drywall. There is a separate workshop that is in really good shape.
So, the value of the house should severely reduce the price of the land, but I don't know how to value the other buildings and the land itself to make a decent offer. Clearly, the guy is asking too much (he wants 400k, at first glance I am thinking it might be worth 300, tops and probably less if the other buildings aren't worth much in value).
So...how would you proceed? None of the damage in the home is beyond my ability to fix, and the home is structurally sound. But if I had to hire a professional to fix it, there is probably a good 100,000 in repairs needed (10-15k by my own hand)...
Edit: also, what should I be looking for in the 40 acres, if my plan is to raise chicken, pigs, and steer (for consumption, not sale)?