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Updated over 1 year ago,
Buying condemned property to Brrrr.
Ok, first if all, total newbie here that recently set myself a goal of buying my first property before the end of the year.
ok, so I i found a property that is listed as condemned in Lancaster, PA. So far I have no info on why it is condemned, but the listing says it needs lots of work. The listing price is only 30k, and there was a unit sold a few months ago across the street that seems like a very similar comp for 170k. I haven't run any numbers, but based on that info, it seems like it would be hard for it to be a bad deal.
so I guess my questions are how would I go about financing this property, being that its a condemned property? Also, how would I find out why its condemned? Also, what other questions should I i be asking and seeking answers for?