Hello DG Family
I am in Sunny San Diego California, have come across 2 homes in the Houston Ga area. (pronounced How-stun) go figure LOL) addressed next to each other and have the same owner. Both have tenants who have not paid rent in over a year, and the original owner (residing in Florida) says, "I don't care what you do to the properties"
Property 1- SFH -2/1.5 -1368sqft-Lot sz 9583-ARV=48K
Property 2- SFH -2/1.5 -1056sgft-Lot sz 9583-ARV=39K
The owner has 5665.54 Tax lien/debt since 2009 -2011
I was thinking to contact the owner, make an offer to pay off his tax debt, in exchange for the property deeds. BOTH Properties
-Subject to pay after sale of both properties within 30 days
-Get a loan against the properties 26k to pay the owner leaving approx 61K to put 10Kx2 into but properties 6k to the owner
Leaves 61K both properties
Market for sale both propeties as is or after repair value
-I prefer after repair value
-Sale for (Both) 45k
Should clear 20-22k
Looking for advice and opnion
Thanks, Nate