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JackDW

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Joined
Apr 17, 2019
Messages
517
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Location
Kannapolis, NC
I thought I would share with the group how I just obtained 4+acres of land (with a house) very cheaply.

My daughter had been searching for a house. She was looking at an old single wide in a real "up and coming" area where new high dollars development was taking place. When looking over the place her boyfriend mentioned that he used to be friends with the guy that owned the property next door and that he passed away several ago and the place was sitting empty. Since he knew the daughters of the property owner (deceased) he reached out to them about the place and found that there was no will so the property was owned by the heirs who did not like or trust each other so the property was just sitting there. In fact, the property was now in the process of being foreclosed by the county for unpaid taxes. My wife has once worked for a title company and knew how to search property records to find the heirs and any liens against the property so we started investigating. What we found was the the heirs would not talk or trusted each other but we where able to work with each individually and purchase their interest of the property. Each had given up on the property and were going to allow it to be foreclosed but once we offered a few dollars they were willing to sell the interest. We were able to get all the paperwork signed and recorded. Paid the back taxes and obtain the property less than a week before it was scheduled to go to auction. We found later that there were many investors with "deep pockets" that were waiting for the action. We were able to get this property for much MUCH less than what the real value is.

If you are in a position that you are searching for property, try finding abandoned property and start searching the deed records. Who knows, you might be able to work out work out a deal. May take some effort and many trips to the court house but worth it in the end.

Just thought I would share my latest adventure. Now in the process of fixing up the house (been empty for over 10 years) and clearing some land. Specific for this group, the land is heavily wooded with a nice creek, off any major roads within a few miles of a large town. A perfect "bug in" location.
 
There are always good opportunities out there, if a person just looks and is flexible. Many years ago I bought a big farm when grandpa died and the heirs just wanted it sold. Got it for a good price and sold at a great profit.
My daughter and her boyfriend, son to be husband, are buying his mothers house. She's gifting them around $80,000. The mortgage is around $80,000, but it appraises at $280,000. This house was built in 1914 and needs a lot of work. After they complete the remodel they will sell it and buy some acreage in the area.
 

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