Buying a Vacant House

4 Replies

 I heard from biggerpockets and other speakers that vacant houses are good to target for a better return.Someone in my neighbourhood,MD,left their house and it is vacant now.The people living next door told me they might have left for good for financial reasons.I realy want to buy the house.What are the possibilities and what can i do?

Appreciate your feedback.

@Muller Dessie

  I'd decide how you plan on managing it, yourself or through a property management company.

   And how do you plan on financing it? 20% down, conventional loan or creative financing? Hard money, using your 401K?

  I'd first start to see if you qualify with a lender as step number one. Then go from there.

  Thanks,

 Mike

Lots of information has already been posted on "missing owners and what to do". In short you won't be able to buy. first you need to find out what's the status of this house(is it in foreclosure)? And then who owns it. then you need to use all of that information to locate the owner and convince them to sell. Has to be something in it for them.