Abandoned Property Next Door
Good afternoon BP family,
I am analyzing deals for my first multi family purchase on the south side of Chicago. I found a vacant 4 unit property where the numbers work, is on an okay block in a lower end neighborhood, across the street from a park, and not far from where I currently live and grew up.
The property is good, I just have a concern with an abandoned property that is located next door to the deal I'm looking at. It is a single family home that looks pretty terrible. Does anybody have any experience with purchasing property next to an abandoned one? Does that effect your perspective tenants or how you approach the deal? Any adverse effects I may not be seeing or should be maybe taking a deeper look at?
This will be my first deal and I am open to any idea bouncing or advice.