Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 9 years ago on . Most recent reply
FREE Property - What's the WORST that could happen?
I have been offered a free property ($1) in a very rough part of Philadelphia. The property is a boarded up shell. I'm trying to figure out what risks I run if I purchase this and sit on it for the foreseeable future.
Aside from yearly RE taxes and HI there shouldn't be any costs I believe?
Most Popular Reply
Rick H.
#4 Marketing Your Property Contributor
#4 Marketing Your Property Contributor
- Lender
- Greater LA/Orange County area, CA
- 3,549
- Votes |
- 3,866
- Posts
Rick H.#4 Marketing Your Property Contributor
#4 Marketing Your Property Contributor
- Lender
- Greater LA/Orange County area, CA
@Lucas Pfaff Here's a scenario:
You record your deed and the local sheriff meets you at the property and serves you as defendant in a toxic waste super site lawsuit. As you duck into the house, you startle a squatter who shoots you in the head. You don't die but are permanently paralyzed.
You did ask what's the worst that can happen. Care to rephrase your question?