Found an abandoned property - now what?

Question

So I found a duplex in NJ that has clear signs of it not being used: the lawn is overgrown, the window blinds are pulled all the way up, and it's completely dark inside. Should this property yield any fruit, what would be the next step be: Do an OPRA request? Look up its property taxes?

Heather Bailey · Answer

Look up the taxes. See who owns it. It might indicate if it's an absentee owner or somebody out of state. Then try to contact that owner and ask them if they want to sell the property. There are several websites that will allow you to look up a phone number based on a name They're not expensive.  Also, go to the town Building Dept.   Often they know about abandoned houses.  They might be able to give you the back story about the house.  The Town's maintenance department may also be able to give you some information because when a house is left untended, the town may issue fines and those fines build up. Tracking down homes like this is one way wholesalers find houses.   Look into some of the great books out there about wholesaling and I'm sure you'll find a chapter on tips for tracking down The owners of homes to make them an offer.    Once you find the owner, you want to look at local comps so that you can make them a reasonable offer based on the condition. A good real estate agent who is familiar with investing can help you with that. I am an agent in Morris County NJ and the surrounding areas and may be able to help with that.  DM me if you need market data in north central NJ.  Good luck.

Charles Perkins · Answer

A seemingly abandoned property is much like any other property at least for me.  First, I want to know if the property makes sense to spend time on.  If so, I do my preliminary due diligence.  In my due diligence, I'm seeking where and to whom to send any offer, trying to determine any amounts owed by the legal owner especially any fines or taxes, I want to get a sense of the house condition, determine if any critical areas exist, and if possible I would want to know why the property is seemingly abandoned this can be useful in many ways.

When you know what information you seek it's easier to determine where to find that information and who to speak to.  Never underestimate what you can learn by walking the neighborhood and talking to neighbors.

Nicholas Jose · Answer

@Heather Bailey Ah, so looking up the tax records will tell you 1) who owns the property and 2) whether the property taxes have been paid on time. I think this can be done through OPRA request - thank you!