Anyone here deal with condemned or properties with code violations? If one was to go and find these properties, how would they go about it.
This may be a segment of the market that has little if any competition.
Any help would be greatly appreciated,
Mike
Mike,
I have purchased condemned properties. There isn’t any secret to it. Find it, buy it, fix it, rent or sell it.
That’s about it.
Mike
Every county, city, or municipality keeps a list of their condemned properties. If you call the permits, code, planning, zoning, whatever department, they can point you in the right direction. Code inspectors and P and Z officials are great resources for finding deals so hook up with them.
Properties don’t get condemned because one of the stairs is a half an inch too low. They get condemned for serious safety and health violations. This is why a lot of investors don’t go this route, too much work. The expense of the work can often make condemned properties unprofitable. You’ll have to sort through them all to find out which are no-go’s.
Some cities have the prperties owned listed on their websites up for sale with violations that need to be fixed, condemned, taxes or whatever.
Don