$500 House w/ lot...

[Brandon Schlichter]

I've run into a interesting situation with a property.

I have located and am in contact with a property owner who has a property he wishes to get rid of by any means. The property is in "Tear Down Condition" so I'm assuming I have to do something with it along those lines.

The area is definately a lower income/value area ,but is somewhat close to a neighborhood of high priced homes.

The lot will be something like $500-$1000 at maximum with a home on the location. Property values in the area run from $3k to a high of $30k for similar properties.

I'm curious if anyone has ever had a home built in a very old section of town, most homes are 100 or so years old, as is this one.

Any ideas on what you would do?