Hi BP Members,
I'm a newbie investor interested in Wholesaling properties in the DMV area. I've read that vacant houses are really good for wholesale deals. I found a list of vacant & blighted properties in DC. When I search through the DC real property assessment database I discovered that alot of the vacant homeowners have $10,000+ in back taxes. Is that a bad thing? Is DC a bad market for wholesaling? Should I search for vacant properties somewhere else?
I've heard that you can structure the contract so that the cash buyer (investor) pays the back taxes. Would investors be willing to cover that much in back taxes?
I'm confused on this matter. Any insight will help. Thanks!
Back taxes are one of mainy issues you'll have to deal with. Take your time and dig through all the info here on BP to learn. Also suggest to hit up your local REAs (there should be some in yor area), network, learn some more, team up with experienced wholesalers, help them move some of their properties and continue to learn. It'll all come together with time...
Thanks Rafael! I'll definitely try to team up with another wholesaler before doing it on my own.
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