I looked at a property in Cincinnati. The outside looks great and only needs a minor paint job and grass cutting. The shed and Garage need to be removed as they are falling down! The property inside is from 1928 and asking only 36,000. A normal 3/2 house.
Here is the catches three people to sign contract as they are all siblings. Back taxes due, and while they were showing the property to a gentle men or rather thug i should say he came back and stole all their copper pipe.
This would be my first contracted house using no money down technique that Dean Teaches! Three contractors have looked at the property and backed off, and two couples could not get a loan or it would be gone. I stumbled on this property and need some help pulling the trigger on this. The fact the contractors backed off concern me.
ARV $70-$75,000 and i think i can get it for 30,000 sell to an investor for $45-$50,000 and make this deal work.
I need some thoughts as if this is a good deal or just hope since its my first. The missing pipe and three contractors grab my attention! Any thoughts are much appreciated.