How a busy doctor used Kars4Kids to make a charitable donation of his rental property
Patel, a doctor from Ohio, bought an investment property at a Fannie Mae foreclosure sale. For a while, the property was a good source of income, as a rental. Before long, however, Patel was in over his head.
The tenant was a shady sort. He was abusing all sorts of illegal substances and was, furthermore, siphoning utilities off of the neighboring property, an illegal practice. But the tenant wasn’t Patel’s only headache. Patel had received a violation notice from the housing division, with a long list of mandatory repairs the cost of which would exceed the value of the home.
It was all too much. Petel decided to make a charitable donation of his rental property.
That’s when Patel decided to get in touch with Kars4Kids. The charity arranged a smooth and swift property transfer. End of Patel’s big headache.
But not the end of the story.
Kars4Kids collaborated with local authorities to bring the property up to speed, and make it comply with proper safety and building standards. Then we sold the property to an investor we just knew would rehabilitate the property and make it into something great.
Sometimes a real estate investment just doesn’t work out. In such a case, it’s good to know you can call on Kars4Kids. We’re glad to help you, if we can.