I have a question, yet may not have enough information. My wife's grandmother has property (Newberry Springs) that she owns free, not exactly clear (tax issues). It's a home with about 11 acres of land in the desert.
She is willing to sell the property in an owner finance deal (she really doesn't know how it works, yet I know once I walk her through everything and how we'd agree, she would be open to it). She has the money to pay her taxes, she just wants to get from under the property, yet there's nothing out there, and I wonder if I should be bothered with it.
What should I do to ensure I've done all DD?? Have the land/property appraised? Is there any value to be gleaned from such a situation to be used as leverage for other RE endeavors?? Structure the sale to below what the appraised mark is soas to have instant leverage??
Any/all advice is welcome. Thanks.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing