Rehabb in Illinois

Rehabbing, Fix and Flip, Rental Properties
1

I passes up this place near my house, It is abandoned, I asked the neihbors who the owner was and they said they dont know, all they know is that it was up for sale did’nt sell so the owner left to Texas.

How do I find the owner, and how should I go about finding out info on his property?

-Carlos

P.s. If a house is abandoned is it still reccomended to buy?

2

YES!!! those are the best deals, the owners normally wants to get rid of it FAST so you can get it for a better deal!!! Run title to find out who owns the property, or if you don’t want to spend the $5 go knock on more doors…someone has to know something.

3

Thanks I will do that today!

What should I look for in these buildings? lead, chemicals? what type of things should I look at, which type of inspectors etc//

Thanks for quick reply
'-Carlos

4

I look for termite damage, MOLD!!!, and water leaks or anything else that may be a bigger headache than it is worth…once you get in contact with owner ask for a walk through with a contractor, he will either charge you a small fee or none at all…this will give you an idea of what repairs are needed…put it under contract and MAKE MONEY!!!

5

I knocked on some doors, I walked into the city hall, no one knows anything about this house. It’s like it doesnt exist, I called a local RE agent, She also said it was on MLS but now it is taken down [cancelled by owner]. I am going to the county office tommorow and hopefully get a hang on this.

Thanks for all the info
-Carlos

6

I have 1 website that I use as a last resort ( when all my title people are on vacation)

http://www.privateeye.com

it costs you 4.95, but works extremely well, you just have to have the street address. Good Luck

7

Tried the privateeye.com
number out of order.

This is incredible. I will keep you posted once I go down to the county office.

-Carlos

p.s. however I did find out the property was bought at $89,000 in 1998 and the home values in that area are $160,000

8

Also you don’t want a drug house, or any house that was used to make Meth. Meth Labs are very expensive to clean up, and might put you are financial risk if you resell it and the new owners get sick.

9

That’s for sure.