Buying an abandoned property

[Colin Spivey]

I have an abandoned property that has been abandoned for at least 5 years. It has central heat and air, has a metal roof, an unfinished basement that has potential to add a lot of value to the home, etc. But it has been obviously squatted in, the carpet it ruined, there are no appliances in the house, will need some drywall work, and one room will have to be treated for mold. It is owned by a property management company and I have thought of contacting them to see if they are willing to sell since it is only sitting there and has been for a while. How would I go about an inspection if there is no water or electricity? What other things do I need to pay close attention to with an abandoned house? Has anyone been through a process with something similar to this? Thanks in advance for your response

[Andrew Postell]

@Colin Spivey if you are willing to drive to Nashville there will be other groups there but I would suggest 3 things:

1. Post in the Bigger Pockets STATE forum that you are looking in. There are usually some good, local investors that monitor those forums. Maybe they already have a suggestion or recommendation for you? Certainly try there.
2. Visit your local REI groups. There are many groups that meet across the country. Some post here on Bigger Pockets. Many post on meetup.com. Networking is always a great practice and you never know who you might meet there and what good information they have to share. Would certainly recommend visiting if one is close to you. I did a quick search and found https://www.meetup.com/Tennessee-REI-Meetup/  I am sure there are others
3. Facebook will also have several real estate groups for your area.  Some will be better than others but keep searching until you find some good ones to follow.

Thanks!

https://www.meetup.com/Tennessee-REI-Meetup/