[Joe RKD]

Careful with the asbestos roof. Asbestos removal is very expensive to remove and dispose of. I am currently working on a 12 unit building that has asbestos siding and the total cost to remove and dispose is $24,000. Asbestos dealings vary by municipality so find out first and use it to offer far less than they want. There are some very good home convertible renovation loans that convert to perm mortages from country wide home loans. Not sure if you need one. Love the look of this house and the poition on the land from what I can see. The wife and I just bought a cape cod built in 1928-- the whole interior is chestnut and it is post and beam framed-- Gotta love old houses-- Like old pontiacs-- They dont build em the way they used to. Good luck

[Rustie]

Originally Posted by Joe RKD

Careful with the asbestos roof. Asbestos removal is very expensive to remove and dispose of. I am currently working on a 12 unit building that has asbestos siding and the total cost to remove and dispose is $24,000. Asbestos dealings vary by municipality so find out first and use it to offer far less than they want. There are some very good home convertible renovation loans that convert to perm mortages from country wide home loans. Not sure if you need one. Love the look of this house and the poition on the land from what I can see. The wife and I just bought a cape cod built in 1928-- the whole interior is chestnut and it is post and beam framed-- Gotta love old houses-- Like old pontiacs-- They dont build em the way they used to. Good luck

Current owners had asbestos claim checked and there is no asbestos in the roof. The original roof was completely removed at some earlier piont.

[Deadhead]

I have taken on projects like this. I have one I did & have kept for 15 years that is like an infomercial for real-estate investing. I have used the equity to do all kinds of things since that are worth far more than the property if sold. I am now in the process of demolishing it in favor of a big 3-bay garage with a 2 bedroom mother-in-law on top of it. I think if you keep them after they are made conventional, the best play is to use the equity for other projects like this.

Another big bargaining chip you will have is that "unconventional" properties like this typically will never qualify for any kind of mortgage or loan. That greatly limits the pool of prospective buyers. When I did mine, I got what amounted to a 'branch' or car loan to buy it.

Take your time & enjoy. Buyer's market on most of this stuff.