New House Flip Just Bought (11/10/2020)! My First Potential Tear Down

I have never bought a house to tear down although many people have told me I should tear down many of the houses I buy! This will be the first house we tear down unless something drastic happens.

The house is very old (1897) and when they say they do not build them like they used to that is not always a good thing. This house is in rough shape and has major structural problems. It is surprising it has lasted this long!

Why would I buy a house that is this rough? Will I rebuild a new house?

The value in the property is that it is zoned commercial! It has more than an acre on a busy highway and the lot is worth well more than I paid for it. $120,000. I made a full price offer the first day it was listed and after we tear it down it may well be worth more than $200,000. I may even have a buyer for it already.

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Mark Ferguson’s purpose is to help as many people as he can become financially free through real estate.
Mark has been a real estate investor and real estate agent since 2001, after graduating from the University of Colorado. Mark has flipped close to 200 houses and routinely flips 15 to 25 houses a year. Mark owns 170,000 square feet of rentals and is the managing broker and owner of Blue Steel Real Estate. Mark has also written 9 books that you can find on Amazon https://amzn.to/2VGI6a9
Mark started InvestFourMore in March of 2013 to discuss his rental property investing techniques. Mark expanded InvestFourMore to talk about his flipping business and real estate agent business. InvestFourMore now has 300,000 views a month and is one of the top real estate blogs.
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