Please Help
I am going to see a property as potential investement, I did some research in the public record and i found out the following:
Board of Revision No
Homestead No
2.5% / Stadium Credit No
Divided Property No
New Construction No
Date 4/16/04
Conveyance # 9014
Sale Amount $46,000
Other Assessments Yes
Front Ft. 40.00
Mkt Land Value 11,300
Cauv Value 0
Mkt Impr Value 41,900
Mkt Total Value 53,200
# of Parcels 1
Deed Type 15 SH-Sheriffs Deed
Deed Number 14983
Taxes Paid $0.00 (See Payments Tab For Details)
Assed value: $18,200
square footage; 1304 / Lot Size; (sq. ft): 6,839-
Year built: 1865
Said FMV:$55.000
I have seen the house in a picture so far, it don't really look like run down.
Ah Also, the ower is Wells Fargo Bank in Minnesota ( Im in Cincinnati )
So what do you guys adivise to do first,?
Do you think flipping is better, or lease option is better.
Thank you, for you help
Oh, yes also it 2 story house, total of 6 rooms, 3 brdms, Basment, 2 full bahrooms
You've seen it in a picture??
Don't even think about a deal until you see it in person and walk through, at absolute minimum.
Also, what is your experience? How much do you know/understand? What is your risk level? Do you have cash reserves? Are you a rehabber, or are you flipping to another investor? If you flip it, can you answer questions about the structure? How is the plumbing? Are their any liens? Is there lead paint?
What about appliances? Bathrooms? Heating system?
RE Investing is serious business. And while this board is helpful, you shouldn't make decisions based on what other investors 'think.'
IMHO, it sounds like you need to do some more homework and at least see the property in person.
Good luck!