property in bad area with little potential for profit

3 Replies

We are a non-profit in NJ that was deeded a property in East Chicago, IN. We are being told by the attorney the area is known for water quality problem & gang violence and the house is in bad shape. There appear to be several building code violations, and I suspect the house isn't what HUD would consider to be habitable. The realtor is asking for money up front to market it.
  We do not want to spend money on this property and am concerned that the outlay of funds could easily eat up any profits made from the sale of the house.

 What would be your advice for us to quickly move on this?

@Susan L mann

If you’re a non for profit then try applying for city and neighborhood grants. You’ll open yourself up to money and experienced people if you go that route.

Originally posted by @Nick Rutkowski :

@Susan L mann

If you’re a non for profit then try applying for city and neighborhood grants. You’ll open yourself up to money and experienced people if you go that route.

Nick, could you explain what the grants would do? Our end goal is to get rid of this property quickly.