Abandoned Property Next Door?

[Jerica S Buchanan]

Hello, 

This past Sunday the police stopped by the house next door to me. They got a call that the door was open and they weren’t able to lock it back. The house has been vacant for almost two years. When I moved in next door back in May of 2020 the owner was renting out the house and then after about three or 4 months it was no longer occupied.

I spoke to the owner once and he apologized for the condition of the home. He would come by to cut the grass once or twice a month but I haven’t seen him in about two years. Not sure what’s going on with the property but I would like to find more out as I am interested in possibly figuring out a way to make it my first investment property. Seems like it’s just been abandoned. It would definitely be nice to have my first rental property right next door to me. I can tell from the outside it definitely needs some work but I am still highly interested.

I found the owners name and a phone number but just not sure how to approach the situation. I don’t have a lot of cash. I have the equity in my home that I was thinking about as a resource or possibly finding funding some other way if the owner is even interested in letting the property go. I really want to keep my current home as my primary residence and rent out the property next door if the owner is willing to sell. I’m still a fish out of water so I don’t know where to begin. What do you think about this situation? Approaching the owner? My options if the owner is willing to sell? 

Thanks for your help!