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Updated about 3 years ago, 10/30/2021

User Stats

6
Posts
1
Votes
Quentin Pidcock
1
Votes |
6
Posts

Advice on a multi party tied up property

Quentin Pidcock
Posted

I found a property that’s tied up with a law office, the city and the county for taxes going all the way back to 2012.

It’s been condemned as it hasn’t been maintained externally and was considered abandoned. The city has scheduled it for demolition this coming summer. 

The city population has been declining since 2014 by roughly 25 people per year. (Population is about 3075 currently).

It’sa corner lot and could be split into a split level multi during a roughly 10-20k rehab. I’d estimate the rent at 600 collectively for the month.

I was considering trying to settle the tax bill if they agreed to give me the property for free. I feel like even at that point it would be me doing them a favor.

I was thinking it may be a good flip but the problem is that declining population.  

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