There are risks too, when buying condemned and burned-out houses because you may not be able to control the environment where these properties exist.

Building my buyers list for $10k "condemned/burn out" VALUE ADD Homes in Southwestern Michigan (5 minutes to Lake Michigan/90 minutes to Chicago).

Any luck purchasing 10k "Condemned" & "Burn Out" Homes?

Any luck purchasing 10k "Condemned" & "Burn Out" Homes?

Any luck purchasing 10k "Condemned" & "Burn Out" Homes?

They placed me with Burns and Wilcox.

It could be anything... a mistake in estimating, a cost overrun, or something like the place burns down and the insurance wasn't properly taken out, or theft (of the money outright) or theft of materials along the way.    

Originally posted by @Arsen Atanasovski:I’m a realtor, you don’t need one for a off market deal, main point if you agree to the numbers take all your paperwork to your local title company and they will do the rest, if you want to pay someone 3% like me go right ahead in the end, title calls your agent on any missing docs so basically nothing I might get a lot of negativity on this post but your buying as an investor and realtors really most of them don’t even know what an investor is, they are a realtor for the end user and make fat commissions on primary properties. 

I had a rental house that burned down. 

After quitting the RE space in 2008 as a burned out landlord with upside down properties, I rejoined the space as a curious vacant land newbie investor in early 2023.