Approximately $40,000 Will Buy You a Burnt Out, Boarded Up, Piece of Junk House in Lubbock
The housing market in Lubbock is getting pretty out of control. I like to check out Zillow every once in a while just to see if there are any amazing deals. I came across a house listed for $39,500 that really confused me. Apparently in Lubbock, you can sell a turd without even trying to paint it gold. This house is just that.
The "home" in question is located at 3105 Colgate Street and boasts amenities like, well...absolutely nothing! It's completely stripped, looks like it has extensive fire damage, many of the walls are only partially there, and the whole thing should probably just be put out of its misery.
What's more, the listing says "as is, cash only," meaning there's no financing available. What a steal!
Approximately 40K Will Buy You A Boarded Up Piece Of Junk House In Lubbock
My family owns a ton of rental properties in the area and aren't afraid of fixer-uppers, but this? This needs to be bulldozed. The asking price is laughable. You'd be better off ditching that piece of crud and selling the land its on. It pretty much looks like the wind would blow it over.
The house looks like a great place to either buy crack or get murdered. If you're into those things, maybe I'm out of line.
I bought a small 3-bedroom, 2-bathroom house in Rankin, Texas for $38,000 several years ago. Yes, Rankin is kind of in the middle of nowhere, but the house didn't require any work at all. It's crazy to think that just because we are in Lubbock, a piece of crap like that could be listed for such an insane price. Even the Zillow estimate of $37,900 is total BS.
If your folks are on your back because you haven't saved enough money to buy a house, show them this article. Good luck to whoever buys that and tries to flip it. You're going to need it.