Luxury Fixer-Uppers for Cheap

OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®


Luxury Fixer-Uppers for Cheap, But You Can’t Stay

Daily Real Estate News | Wednesday, July 27, 2011

Home Caretakers International is a Tampa, Fla.-based firm that finds caretakers willing to rent foreclosed properties at a reduced rate.   These caretakers make minor repairs, mow the lawn, and do some deep cleaning so that the home can eventually be sold.   [. . .] a portion of the monthly fees covers cleaning costs.   However, caretakers must cough up the money for any minor repairs.   "Believe it or not, there are a lot of people out there willing to put in sweat equity for a reduced cost of living," says Michael Shelton, the company's marketing director.   He says caretakers pay about $600 per month for a home that would rent for $1,000, and one couple is spending $1,500 to live in a waterfront home in St. Petersburg that would rent for more than $3,000.

Source: http://realtormag.realtor.org/daily-news/2011/07/27/luxury-fixer-uppers-for-cheap-you-cant-stay

 

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