Posted by laura on February 07, 2001 at 20:16:07:
Hi Bill…the house is valued at $14,000 in a neighborhood of $60,000 & >. It’s also a double lot on the corner. We have the persons name that owns it, he lives within 2 mi. of this house. Just not sure how to go about asking what is wrong with it, is it for sale, etc. I have been in it once, before the original owner died, it’s old (1920’s), but by no means trashed out.
boarded up house - Posted by Laura
Posted by Laura on February 07, 2001 at 24:48:37:
I want to find out who owns a boarded up house. Who at city hall would i contact? Is there a certain formula used to calculate when the repairs are too costly for the price of the house? Any input on this type house would be appreciated. P.S. Have Sheets book, just started looking, haven’t bought yet. Thanks Laura
Re: boarded up house - Posted by BillW.
Posted by BillW. on February 07, 2001 at 14:33:04:
Laura, Go to the assessors or records section at city hall. Have the friendly clerk show you how to look up the owner of a particular property. Find out where the tax bill is being sent. Check to see if the bill is currently paid up. If that doesn’t work, contact me and I’ll help you move to the next step to try to find them.
The only formula needed to see if the repairs are too costly , is the following: Is there a sufficient amount of profit left for you after all repairs, holding costs, acquisition and sales costs are factored into the deal? You’ll find that in many marginal areas, the profit can disappear quickly unless you have ways to get things done WHOLESALE.
Good luck,
BillW.