People pass by abandoned properties every day. You know the type: no one lives there, no one works there. Weeds take over, windows are broken or boarded up and everything falls into disrepair. I am not talking about the run down parts of town either. Every day real estate investors can look in many neighborhoods where the last thing you would expect to find is an abandoned home and yet, right there in the middle of the block is a home with weeds three feet tall and pieces of colored paper taped inside the windows. Those are the notices that the water has been turned off or that a management company has been contacted to look after the property.
Abandoned homes can be found in all cities and in all neighborhoods and the real question becomes, as a real estate investor, what do I do with them? Are abandoned homes a good buy or do they come with their own special set of problems? The answer to all of the questions is going to lie somewhere within each investor and their ability to pick the gems out of the pile of rubble.