It's really important that you work with an experienced loan officer or broker, especially on a time sensitive purchase transaction.

We are currently living just south of Boston and are looking to purchase a 2-4 unit property in which we would live in one of the units.

Today, I used those proceeds to purchase a 5-unit commercial retail building without coming out of pocket at all.

I'm looking for advice on a situation with an investment property my business partner and I purchased in June 2024 under our joint LLC in Springfield, OR.

I'm looking for advice on a situation with an investment property my business partner and I purchased in June 2024 under our joint LLC in Springfield, OR.

Here’s the context:The house appears vacant, with a large tree that has fallen on the property.From what I can see, the house seems full of furniture and might even be a hoarder home.I’ve skip-traced the property and found that the owner has unfortunately passed away.The house seems to be mortgage-free, and I’ve identified three phone numbers associated with the son, who I believe is the heir.I’d like to reach out to the son to express my interest in purchasing the property, but I want to ensure I do so respectfully while also gathering the right information.Here are my questions:What’s the best way to approach the heir while showing my condolences for their loss?

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

Thank you all for your comments.I read all comments and I appreciate the feedback.I will comment on a few of the posts in my response below.Here are a few things I'd like to mention...Patrick was a valued member of our Multi-unit Acquisition Program (MAP).As a member, we determine one's purchasing power and diligently search for deals that meet their criteria and purchasing power.In real estate, there are a lot of moving pieces.

But with that purchase, I bought it with $50k equity in the deal.

I've identified a piece of land that is off market and able to be purchased, roughly 40 acres.