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Updated about 3 years ago on . Most recent reply

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Cedrick Givens
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More trouble than it’s worth?

Cedrick Givens
Posted

There’s a 3-1 available near me for($30k) BUT has this as the overview: All Highest, Best & final offers must be submitted by 12/5/21. "This property is being marketed occupied. The interior of the property cannot be accessed. The foreclosure has already been completed for this property. The purchaser is responsible for the eviction process. When viewing the property please do not disturb the occupant." The Seller is the USDA……. I’m interested but Is something like this worth the headache? I know there a lot more cost to consider.

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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
Replied

I'd say your concerns are valid.  I wouldn't describe this as even "low hanging fruit", but as the "fruit that is on the ground".  There are so many unknowns here that carry big dollar amounts (rehab needed) and aggravation (evicting tenants that have probably been living rent free while the foreclosure process has been in action).

My guess, is you're going to "get what you paid for"....and then have to pay a lot more.  This is a not so shiny object of distraction.

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