Long Distance Property Management or Donation?

Donated A Single Family Home in Racine, WI

An Illinois doctor purchased a residential investment property in Wisconsin in 2017. He managed to have it rented out to a tenant, but was saddled with property maintenance and taxes, all of which he had to manage from far away in another state. Doc had the property listed with a local Wisconsin broker, but the offers that came in were far less than his asking price. Which, by the way, was not going to make a dent in helping him to recoup the expenses incurred in remodeling the home and bringing it back up to code.

That’s when the good doctor decided to look into car donation. He approached Kars4Kids, and wanting to be helpful, we paid for an appraisal, in order to confirm that the tax deduction would be of sufficient benefit to the doctor. The appraisal met with Doc’s full satisfaction.

The title process proceeded quickly, and Kars4Kids issued the donor a receipt for the full appraised value—nearly double the offers the doctor had received—and reimbursed the broker for her full commission, as well. Of course, we also reimbursed the doctor for some of his renovation expenses!

Kars4kids listed the home anew, and it sold for a decent price only a short while later. We can go the extra mile for a donor. Because we know what we’re doing. And we tend to get it right.