This is a fire-damaged property on South Juneau Street in the 98118 zip code area of Seattle. It has been vacant since 2008, and used since then for storage. The owner has received numerous offers for this property, but not accepted any. Estimates to repair the damage from investors who have visited the property are somewhere around a minimum of $100,000.
The house is tax-assessed at $137,000. Seller is not willing to suggest a purchase price, and that is a red flag for me. As an investor, I tend to discount any owners who are unwilling to suggest a price, especially when they have been presented with numerous offers. This to me means that they are not sufficiently motivated to sell.
Also, the person negotiating this deal is the father of the person listed on title. He claims to be the authorized owner, but this is another caveat to a prospective buyer. Buyer beware! Check the title on this property carefully!
Of course, he collected the insurance money on the fire damage, but did no work on the property. Another red flag.
But if you are still interested in pursuing this, please be my guest. 4730 S Juneau Street in Seattle. Please message me at HomeLandInvestment@gmail.com if you want contact information.
Happy Investing!
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