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Updated about 1 year ago,

User Stats

56
Posts
15
Votes
Baron Wilson
  • Wholesaler
  • Oregon, OH
15
Votes |
56
Posts

Need advice on buying these properties

Baron Wilson
  • Wholesaler
  • Oregon, OH
Posted

 I have been wholesaling and this seller wants to sell five properties to me for $1 each.

The seller wants $1 each and I just am responsible for taxes owed on the property.

$40,000+ in taxes owed on property #1

$40,000+ in taxes owed on property #2

$20,000 in taxes owed on property #3

$2,000 owed in taxes on property 
#4 not sure on property #5

Seller also tells me I should buy and hold and rent it out.

The seller says flipping it is not a good idea because the properties are in a bad market which is Dayton, Ohio.

I would like to buy and hold but I would have to find funding to pay back taxes and also renovate the properties.

Do you think buying and holding is a good idea? I’m calling Montgomery county to discuss payment plans on the back taxes.

If I own these properties I’ll have five properties under my belt.

On the other hand, I could wholesale the properties for a quick profit.

What would you do if you were me?

Thanks for reading and always replying bro.

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