I ran across a seller looking to dump his properties. All are major rehab projects. Most of the properties require the roof replacement, flooring, ceiling (due to holes), kitchen, bath the whole nine yards. One property had toad stools growing out of the floor in the kitchen (mold)- no joke! He is looking to package the deals, however he wants 325K for the deal. I explained to him that know one is going to buy these properties for that price. Especially, with those problems. He is willing to be flexible on the pricing. So, I went home did more research on the owner, found out he has liens against his properties for taxes. Totalled to about 20K as of right now.
I figured I could use this a bargining tool to low the cost or just scrap the whole deal.
I had planned to get the properties under contract and assign it to a rehabber.
Any suggestions