Here is what is a possibibility.
A rehab property is available for 2, - 3K in a neighborhood of 56 -60K homes.
Owner lives out of state. I live same state but home is 3 hours away.
Home is close to college and hospital (lending itself to a good rental).
Other then what is asked to pay back taxes I know there is “a few hundreds” due before water will be turned on. per owner. I have to call the city but it is a holiday weekend :bobble
My idea is to contract the house for as low as I can negotioate…
with inspections and a 30 or 45 day closing… in the mean time erect a home made sign stating handyman special… 15,000 (or whatever I come up with).
Now I am going back and forth on this part…
Would the pro or cons be to do a double close… but what are closing fees and such on a 3k deal?
or have the seller and new buyer do the close with an agreement that I was owed ??? money at closing.
I am trying do do all my due dilligence… a professional friend of a friend is doing a drive by for me… I will talk to the city… even thinking of calling a neighbor… what more can I check?
Oh and I was also wondering… if I did DD for 2 or 3K does one have to go through a title company or can a quick claim be done and filed with the registar of deeds?
What are your feelings on that one?