Is this property worth Wholesaling?

[Richard Rodriguez]

Hey everyone,

I just finished looking at a house today, and I am having trouble deciding whether or not I can do anything with it?

I'll give you the quick version: The house is owned by a nice old guy who seems motivated to get rid of the property, because he does not have the ambition to try and fix it up.

I went to look at it, and man alive the place is in such bad shape that it needs to be condemned. Somebody stole all of the copper piping and plumbing as well as the electrical wiring and circuit board. They used axes to remove a lot of the walls to get to the piping and wiring, leaving behind only the barebones structure itself.

Without going into too many more details, I will just say that it needs to be knocked down.

I'm thinking I should take into account the value of the land alone, subtract the amount of money it would take to demolish the house, and then offer a wholesale number on whatever figure that would be.

What do you all think?