Made contact with condemned house owner
So i just got into investing. I just bought my first duplex back in September and everything is going great with that. Anyway the week i was closing on my property the neighbors placed burned up. The fire dept put the fire out to minimize damage by the fire. The house ended up getting condemned because the owner was a hoarder in addition to the damage, come to find out the owner hasnt paid taxes in 3 years forfiet date for the property is in 2021. The house is paid off. When i made contact with him i asked how much he was looking for. He didnt give me an amount at all. He said the house was in his family since 1933 and has a lot of sentimental value to him. My thought is if it had a lot of sentimental value he wouldnt have let it get as bad as it is. Also sentimental value doesnt translate to dollar value very well. Anyway, any suggests on how to get him to put a dollar value on this property? In addition to that if i do get this property. Does any one have any financing experience whether it be better to rehab this disaster or completly tear it down and start new. The 5 companies i called so far said they wouldnt finance a rehab on That kind of property. But i have found at least 1 company to that sounds promising on getting a new build loan. The house was built in 1925. Any suggestions would be appreciated.