My Land Is Worth More Than My House in Atlanta, Georgia

Hi everybody, this is Courtney Buck of Courtney Buck Investments. I buy homes to either renovate or flip in the Atlanta area, Alpharetta/Roswell area, and in Forsyth/Cherokee County.

I was just meeting with a seller today who had an interesting predicament about their house. They have a house in the Atlanta suburbs that was built around 1945, 1950, and, basically, the suburbs have grown up around their house. They have two houses right next to each other, and the suburbs and the commercial district have all grown up around them. We estimate the house to be worth maybe 250-300,000, but the most rent they can get is 7-800 out of it, and this causes a problem whenever you’re going to sell the house. If you’re going to sell the house, the rent, unless you’re going to live in it, the rent won’t match to what the purchase price is going to be, so if you have $100,000 house and it’s going to be something you rent out, you’d like to get $1,000 or $1,200 out of it, but if it’s a quarter-million dollar house, and you only get $700 out of it, it’s not going to be cash flowing properly.

This happens when the land itself is worth more than the house is to somebody living in it. Unless they truly just want to live in that area, and oftentimes not because the world is growing up around those smaller homes and older homes, this is something where you can talk to an investor who can give you a land offer, price offer on the home, to something that would please you and they could purchase the home from you in hopes to sell it to another developer or maybe they want to build on the house themselves, or the next best thing is they, the homeowner, the seller, could confront people who are building homes around them, they have signs everywhere so you could just give them a call, and see if they can make a fair offer on that house.

If you have any further questions about this, what happens when my land is worth more than my house, my name’s Courtney Buck of Courtney Buck Investments. We buy houses in Atlanta, all over Georgia. My number’s (770)599-7300. Thanks everybody!

Video Transcription

Courtney Buck: Hi, everybody, this is Courtney Buck of Courtney Buck Investments. I buy homes to either renovate or flip in the Atlanta area, Alpharetta/Roswell area, and in Forsyth/Cherokee County.

I was just meeting with a seller today who had an interesting predicament about their house. They have a house that was built around 1945, 1950, and, basically, the suburbs have grown up around their house. They have two houses right next to each other, and the suburbs and the commercial district have all grown up around them. We estimate the house to be worth maybe 250-300,000, but the most rent they can get is 7-800 out of it, and this causes a problem whenever you’re going to sell the house. If you’re going to sell the house, the rent, unless you’re going to live in it, the rent won’t match to what the purchase price is going to be, so if you have $100,000 house and it’s going to be something you rent out, you’d like to get $1,000 or $1,200 out of it, but if it’s a quarter-million dollar house, and you only get $700 out of it, it’s not going to be cash flowing properly.

This happens when the land itself is worth more than the house is to somebody living in it. Unless they truly just want to live in that area, and oftentimes not because the world is growing up around those smaller homes and older homes, this is something where you can talk to an investor who can give you a land offer, price offer on the home, to something that would please you and they could purchase the home from you in hopes to sell it to another developer or maybe they want to build on the house themselves, or the next best thing is they, the homeowner, the seller, could confront people who are building homes around them, they have signs everywhere so you could just give them a call, and see if they can make a fair offer on that house.

If you have any further questions about this, what happens when my land is worth more than my house, my name’s Courtney Buck of Courtney Buck Investments. We buy houses in Atlanta, all over Georgia. My number’s (770)696-6689. Thanks.

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