(818) 416-4648 Cell
Certified Engineer Geologist #1238
CA License # CEG 1608
Or feel free to call my office and they can help you coordinate an inspection with a Geologist. (818) 951-7467
Red flagged=house needs to be scrapped.
If you can get it for the land value minus the cost of hauling away three dump truck loads full of demolished house, go for it. That deal would pencil out.
And if it's the one on Fortune way, it's not even close to that price.
Call me when you want to buy a serious, cash flowing investment.
I hope you are working with an agent, who has seen this property and can advise you. A home in a landslide area, that has been "red-flagged" by the city...has serious issues to consider with regards to safety. With the number of homes on the market today, there's no reason to take such a risk.
California Geological Survey @ http://.www.usgs.gov
You should probably have geological testing done; hire an engineer as well. Let me know if I can help direct you to the right resources. Have you asked your agent about this?
The Chance Team
Keller Williams Realty Studio City