NEWBIE NEEDS HELP!
I recently came across an apartment complex, which is in pretty bad shape. The whole complex was fenced off, windows boarding up, HVAC units blown off the roof, and some of the flat roofing membrane hanging off the side of the building . As far as I can tell, there are 13 four unit apartments. Thinking I might be able to do something with it, I started tracking down the owner. From what I gathered from the city, the owner and his insurance company have been going at it for a number of years on how to resolve his claim. The city attorney gave me the contact info. of the owners attorney and suggested I call him in regard to the property. My question is, how do I proceed?
I would call him and get ALL the details. I can not list every question you should ask but any you can think of I would. how much he owes? how much fix up? owner financing? etc etc etc. and the when you have a whole lot of information about the situation, then I would re-post with specicfic questions on what to do.
Thanks dlitedan, I think this property has great potential. And if I can get it for a good price, it would be even better. I will keep you posted.
[addsig]