All Forum Posts by: Richard Stackonis

@Kevin Sobilo appreciate the info! Ill look into it and see what my options are! Thank you!

@Kevin Sobilo thanks for all the info! These were things I wasnt even aware of but its good to learn these things before I make a mistake.

Ill be going to look at it and try and evaluate the costs of repairs this coming weekend.

It does have a property tax lein already at 27k. Is this something I will have to pay back or can I jist make payments to avoided it being auctioned off later?

Thanks againfoe your help!

Hello everyone, Im brand new to real estate investing and have started searching for information on the matter. Reason being is because I have found myself in an odd situation and would like some feedback from some seasoned real estate investors!

Recently my uncle came to find out thay his ex-wife had signed the deed of her old house into his name. He found this out 10 years later(last month). Not wanting to have to deal with it, he told me that since Ive shown an interest in real estate, that he would sign the deed over to me for free.

Now this sounds like an amazing deal until I did a little research and found out that the taxes havent been paid in over 15 years and currently sit at around 27k with a tax lein attached as well. The house needs some serious repairs ie; new furnace and hvac work, new window, kitchen cabinets, and just a complete update as it hasnt been lived in in almost 16 years.

My question is that even though he is willing to give me a house for free, do the taxes and rehab costs make it worth it?

It does have a newer roof and siding, 2 bedrooms, basement, kitchen, and 1 and half baths. Its in a decent neighborhood and if I do accept I would repair and rent for a year or so before turning around and selling.

Is this something to go with or is the baggage to much to consider? Thanks for your help!