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Updated about 6 years ago on . Most recent reply

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Carnell Dennis
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4 distressed properties inner city townhomes

Carnell Dennis
Posted

Hello New to the forum and New to investing, just purchased a tax sale property and then in the holding period before being deeded. There are three more properties connected to my property that were also up for tax sale but had no bidders. My property is the first in the row of the four properties that were for sale. I had an opportunity to see the last property of the four (end unit), and it is a complete gut possible demo.  I know that more than likely the two properties in the middle (between the one I purchased and the one I saw on the end), are just as bad. I believe I could get the remaining three properties for less than 20k.

My question to the forum is, if needed what would be the pitfalls of buying all three properties knowing that they all could be a complete demo. I am willing  to sit on properties/land until building new housing years from now. 

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