Reallllly long shot for realllly cheap

[Mike F]

Hi everyone. This my first thread and post on this forum and I have some questions. I have been doing some pretty serious thinking lately.

Please read this with an open mind.

There is a property relatively close to that has been vacant, power off I believe, for probably close to 13 years give or take a couple.

Through some research and some networking I am in a place to put a reasonable offer on the property and through casual conversation with those who own it I have come to basically learn that the property would be sold for LITERALLY next to nothing, pending probably a few thousand in taxes.

My concern with it is water, in the basement. Remember the house has been sitting, power off so if it were a sump pump system this is now an issue. I know the concerns are mold, its abatement, and then all the issues of rating and repairing related to it. I am familiar with seller disclosure etc..

The property is pretty well overgrown, nothing ridiculous, nice and lush in the summer though :).

This scares the snot of me.

The positives are the area(secure safe neighborhood, close to highways, quality shopping, good schools etc..), the size of the property and lot and the fact that up until it was vacated it was maintained perfectly.

There is a serious profit to be made. I am in great contact and relationship with contractors etc.

I appreciate any and alllllll feedback. I do understand the potential for mold is no joke. I am all ears. Thank you everyone. :wink: