Posted by steph in tex on January 28, 2000 at 07:14:05:
Joe,
as I said in my post, we have tried every angle-
she wants to keep the back rental, the property is tied up in probate, doesn’t want to L/O, can’t deed the property to me due to the probate issues. basically she doesn’t want to deal with it-but i can have it if i move it. if you can think of some way to convince her - feel free to shoot it to me!
i’d love to keep the house where it is, and the back rental. i told her i’d give her the 400 she gets on the rental- plus an extra 250 every month on L/O- nope- she’s not biting. if i don’t move it, the city will tear it down. the house is really not bad.
real property? or personal property? that is the question - Posted by steph in tex
Posted by steph in tex on January 27, 2000 at 20:14:45:
if a lady is willing to give me a house,(if i move it)
in leiu of it being torn down by the city…
do i treat it like personal property?
or real property? deed?
the house is really ok-- built in the early 1900s
and lots of charm-- foundation needed work, and some bums
had been going in and out-she couldn’t keep it locked/boarded up–
but really not bad–
she refused to talk to the city–a little mental maybe-- but
the city is finally ready to move on it-
they pulled the gas meater and lines,
have it tagged for demo.
i tried to get her to sell it to me, but she says it’s all tied up in probate,(checked it out) and she doesn’t want to hassle with it
it has a 2nd unit out back that pulls her in 400 a month-
that’s all she cares about. i tried the L/O angle-- nope.
but she’ll give me the house before they tear it down…
any ideas? i can buy a lot for about 10K-- but i’m clueless
about how to handle this one! i have contacted the city, and i can buy a little time- but not much!
Re: real property? or personal property? that is the question - Posted by George Elliott
Posted by George Elliott on January 28, 2000 at 10:57:43:
Hello Steph in Tex,
I hate to bother you, especially when you are trying to email the group to find answers to your own questions. My name is George Elliott and I am new to this website and real estate investing period. I guess you would classify me as a “newbie.” Currentlly, I reside in Cleveland, OH, but considering moves to one of the following: Charlotte, NC, Tampa or Jacksonville, FL, Dallas, TX or Phoenix, AZ. Honestly, though, Charlotte is the odds on favorite.
Anyway, I don’t want to take up to much of your time but I was compelled to contact you. I was reading your how you became hooked on investing in real estate and loved your story. It appealed to me because you are doing exactly what I would like to do. So, I was wondering, if it wouldn’t be too much trouble, when you have some time, could we chat someday. I really see myself emulating your style of investing and would love to get some advice since I am just starting up. Actually, I was seriously considering putting off real estate investing until I was re-energized by your “Success Story.”
I hope this in not a great inconvenience for you. I guess at this point I would like to speak with someone that is where I want to be and could use your help.
Continued success in Austin Steph. Hope to hear from you.
Re: real property? or personal property? that is the question - Posted by JoeB(Atlanta)
Posted by JoeB(Atlanta) on January 27, 2000 at 21:32:28:
Steph, unless the house is currently in a bad area of town, why couldn’t she just deed it to you and LEAVE IT on the existing lot.
In Atlanta, this would be sufficient enough to stop the city’s demo, if you could explain to them that you were going to rehab it up to a nice standard…
The house would be sold with a bill of sale unless someone had a secured interest in the land and the house. It becomes real estate when it goes back on your lot. Typical is 5K to move some of the houses but can run a lot more depending on distance and obstructions