Updated about 2 years ago on . Most recent reply
First time out of state purchase under contract
This is my first time investing in a rental property. I’m in San Diego and the property is in Michigan. I used to have a 5 BD house with a studio and rented all the rooms, so I’ve at least been exposed to a carousel of renters and the whole process and I’m aware of the trash people that are out there and some of the things that can go bad.
I had my offer accepted on a property that’s in a C- neighborhood. It currently has a section 8 tenant that transfers with the property. My agent has advised I don’t need to do anything ahead of the sale in order for the transfer to happen, only the property needs to be certified. Is this true?
I’m aware there will likely be repairs needed and have a bucket of change set aside for it. I’m in the trades and well versed in everything repair, I guess I’m just a little uneasy on having someone else do it remotely. Anything I should look out for when getting bids and post work inspections?
I’ve read the housing market is supposed to go down, I’m aware also that who tf knows in reality. In my opinion, when the property is only $100k, and you’re buying it for long term cash flow, I don’t really care if it does. Is my thinking wrong?
After years of analyzing properties I fell into analysis paralysis, and I’m excited to finally be pulling the trigger. So much so that I’m about to put an offer on a second property, a duplex. Can you be in escrow on two properties at the same time? Sounds like kind of a cowboy move, but if the numbers make sense not sure why not if allowed?