Foreclosures

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Obsessed with vacant property in Collin county Texas

Posted Oct 5 2019, 11:20

So I've been stalking this property. Ultra disgusting boarded up vacant house on a very nice B+ class street. 

Did some research. 10 years of back taxes totalling a bit over 20 grand. Owner died in 2002, his wife died in 2009, which is when the taxes stopped being paid. 

I believe their only child died at the age of 14. The only one I could find a record of, but I could be wrong, I didnt hire anyone or anything, this is just google research for now. 

Dead guy is still on the title. Talked to the neighbor, he said the city has been mowing it, but once he did see a big truck pull up and someone go in the back yard (could be another curious person, not sure if it means anything) 

Back taxes are around 20K. A lot with a partially burned down house a few streets over sold for 65K six months ago. 3/1s in the area sell for 150. I was thinking I would buy it for the taxes and sell it for the value of the lot. 

I plan on calling the county to ask a few questions, but what should I be aware of/beware of trying to pursue this property? I have the cash available to throw about 30k at it, but it would be all my cash earmarked for investments for the time being 

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