Found Property...but I Don't Know What To Do With It??
Here is the dilema:
I have a piece of property that I found through a friend of mine. It was his late grandmothers property and it now is left to the children to sale. The problem is that the home is in a not so nice neighborhood, not a war zone...just a run down area., and I am worried I would not be able to move the property if I controled or owned it. But, on the other hand, I hate to pass it up. They are asking $30,000 : it includes 2 pieces of property.1 piece has a house sitting on it and the other has just a garage. I checked out the latest appraisals done for the area to give me an idea of prices: one is for $27500 and the other appraised at $5600.
...Any suggestions out there?? Should I deal with it or forget it and move on??
Thanks TCI
Put it under contract and see if you can flip it. Cost you about $10 to do this. If nothing happens, your out $10.