They say that look for motivated sellers, not houses and I agree with that. But sometimes, you come across a somewhat motivated seller who has a vacant house they've been trying to sell for 2 years. I have a meeting with them on wednesday at 9am.
The couple inherited this house from the wife's deceased mother 2 years ago and have been trying to sell it since from what I'm told.
From the way it sounds, I'm 99.999% sure I'm not the first investor buyer to call them. Zillow.com says that the house is worth 55k, and from what I see on the outside it needs more than just "cosmetic work".
The top-dollar offer I'm going to make assuming the work really is just cosmetic+updates is 25k. If they either balk or just stare at me then I'll walk and check back with them every 30 days or so to follow up.
Btw, this house is on the street where I live on. I can walk to this house in under 3 minutes so if this couple isn't willing to be reasonable then no gas lost on my part.