All Forum Posts by: Nick Hughes

Sorry,

Did the tag wrong. Please see my post above.

@Adam Spears

@adamspears

I'm curious how this situation turned out for you.

I'm in a very similar situation at the moment but it is with a house I would like to wholesale. It is a FSBO and the numbers for my deal are very similar to yours and this home is also on the demolition list. It was put on the list because of a fire in the kitchen about a year ago. The property was inherited and the owners chose not to fix or keep up the house. I'm going to see the house today. Any advice or insight would be appreciated.

Hello BP community,

I've come across a property that I'm looking to wholesale. I spoke with the seller last night and she is going to show me the home tomorrow morning. According to the seller the property suffered fire damage to the kitchen and dining room. There is most likely water damage to a good portion of the home. She sounds very motivated to sell and her initial asking price is 20% of what I've determined the ARV to be after running comps for the area. I'm confident that I can get it for less.

After looking up county records though, I see the property is considered a public nuisance and dangerous property. The county has ordered it to be demolished (unsure of when this is to take place).

If I still like the deal after seeing the property, how would I go about dealing with the county to get the property unslated for demolition? Is this process more trouble than it's worth?

Any input would be much appreciated.

I just want to say thanks to all of you for the warm welcome and good advice.

@Ray Orellano Thanks for the good info, I'm glad to hear that the site won't sit vacant for much longer!

@Richelle T. No I have not purchased a facility but I am still keeping an eye on what pops up on the market.

Hello Everyone!

My name is Nick Hughes and I live in Overland Park, KS.  I set up my BP profile a couple months ago and have been a silent observer so far.

I only became interested in real estate investing about a year ago when I began researching the business models of self storage facilities. From there, I began researching commercial investing and then residential as well. Then I found Bigger Pockets, woohoo!

I can't tell you how much I enjoy reading the forums and listening to the podcasts.  I have only just begun getting out there and networking with others in my community and hope to get to know many more of you in the coming year.

Cheers!