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Updated 11 months ago,
Best Way to Approach My Grandmother's property
My father was quit deeded my grandmother's property after her death by my aunt when the property was thought to be on the way to be taken by the bank for outstanding loans. Long story short, the bank wrote off the loan. My dad has this property but it is in disarray. It has liens for the city demo of the house and cleaning of the yard. It would take $25k in total to clear the liens. The land is zoned for 4 lots.
I would really like to make this my first investment in real estate as I see it as the most low-cost and less risky opportunity to get in. However, I'm unsure of how to move forward considering that I have 3 other siblings that would be tied to this property if anything happens to my father. I'm the only one in my family that is financially capable of doing the things needed to get the property right. I'm lost on where to start with this and really need help identifying the best possible way forward. Thanks in advance!