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Updated almost 10 years ago,

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10
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0
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Richard Renson
  • Philadelphia, PA
0
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10
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Obtaining a property with unpaid taxes in Philadelphia

Richard Renson
  • Philadelphia, PA
Posted

Hello all, there is a property in my area that has not been occupied for a few years. I somewhat know the owner. She bought the property for her daughter to live in. Unfortunately her daughter passed awhile back. The home is now trashed ( would need a complete renovation) and has about 5k in back taxes. I'm guessing it would need around $35k to $45k in repair. The arv of this home would be around $115k to $125k.  My question is if I get the property and taxes paid for $25k( all of my funds at this time) should I take a mortgage out on the property to fund the repairs or would it make sense to just find a private investor?