Abandoned Property NPN Note

[Patrick Folker]

I recently acquired a nonperforming note, to which I learned that the water has been shut off for a year and a half. Attempts to get a hold of the buyers haven't been fruitful. What are my best options here? The property is located in Ohio.

[Chris Seveney]

@Patrick Folker

Oh boy. If you cannot find the borrower I would secure it and check out interior to see if it is worth foreclosing on. Many of these homes end up worthless and your better off just letting it go to tax sale. Since you never checked occupancy did you happen to check taxes before you bought it?