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Updated about 6 years ago on .

Account Closed
  • Rental Property Investor
  • Seattle, WA
2
Votes |
10
Posts

Well on potential purchase gone dry

Account Closed
  • Rental Property Investor
  • Seattle, WA
Posted

We are looking at a property with an ARV of $250000. It is an abandoned house and probably needs at least $50000 worth of work. However, the well has gone mostly dry, and last time of the seller tried to dig a well they went a 1000' without hitting water. All the wells in this area are shallow, so I'm wondering if anyone has ideas about this? I can get the property for under $100k easily.

No city water nearby to tap into, nor the potential for it eventually.