Rental Property Investor · Eastern PA · Member since 2020 · 5 posts · 2 votes
3 homes on the same block, 2 of which are neighboring have gone on the market in my farm area within 2 weeks of each other. They are priced moderately based on comparable. I personally find this a bit suspicious but still plan to get eyes on them this weekend. What could be something to induce this aside from just chance? Anything in particular I should pay a bit extra attention to? Anyone had similar experiences to this? Thanks.
Hi @David Garcia! Keen observation here! By chance are they owned by the same person or related persons?
It could definitely be a bad thing, or it could be a "keeping up with the Joneses" type of scenario. Either way, it does merit a deeper look. If nothing else, it could be a great buying opportunity for you in your farm area!
This very likely could be because of a related owner between the two properties who is looking to sell their investments. You can have your real estate agent do some research into the listings agents/current owners.
I also know that there are some areas in my city that are specifically known for having poorly built/cheaper foundations that require more maintenance. Definitely go check them out, but just keep a good eye out for defects as you normally do looking at any property.