Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 11 years ago,
How do I proceed?
Greetings from South Florida! So there is this house across the street from me that is currently vacant. I have met the owner in the past he lived in the home for about a year and then rented it out for about 2 years, about 4-5 months ago the tenants that were staying in the home moved and the owner has came by about 2-3 times max, lately the home has been unattended and sitting(grass growing, gate broken..ect) I am not positive but I believe the owner may be upside down in the mortgage and possibly may have stopped paying the mortgage altogether however the home is in his name and county records indicate his mailing addy is near by. I have limited funds and understand that the best method for me would be is to start in wholesaling. County website shows that the Assessed /
SOH Value is 54,670 and Just Value is 64,980 but I believe it is possibly worth about 75-80k in present condition give or take. What steps should I take and how should I proceed with this potential deal?