Real Estate Agent · Brooklyn, NY · Member since 2021 · 2 posts · 0 votes
The best priced properties usually have squattors. I understand why people avoid such properties but there must be investors who are not afraid! Where can I find them? Is this you?
The best priced properties usually have squattors. I understand why people avoid such properties but there must be investors who are not afraid! Where can I find them? Is this you?
Getting involved with properties that have squatters - in any way, shape, form, or manner- is just plain beyond insane.
if the owner is available enough to sell the property, then he’s available enough to evict the squatters. He can call the police if needs be. You cannot wholesale properties with squatters.
@John Clark Hi there, I appreciate the response! I'm an agent, not a wholesaler. Squatters tend to derive from tenant relationships or family members who do not want to leave the property. Considering the housing crisis in NYC, the city tends to be on the side of the tenant who is now squatting. Calling the police can result in the recognition of the home being occupied but rarely leads to the prompt removal of the squatter. There are buyers who do not mind the process of removing squatters from homes, and those are the people I am seeking to network with.
Madison, NY realtor here (Long Island, 7+ years) and I run into this a lot. The investors who buy occupied or squatter properties are out there, but they're a specific breed: all cash, and they price in the worst-case legal timeline. In NYC, removing a holdover occupant can take 6-18 months depending on the borough and whether it's a tenant-turned-squatter vs. a true trespasser, so serious buyers usually want to be at ~60-70% of ARV minus repairs and carrying costs.
A few places they congregate: local REIA meetups (there are several big ones in NYC), investor Facebook groups, auction platforms, and title companies that close a lot of investor deals — they usually know the cash buyers by name. When you list these, be upfront in the remarks: "occupied, cash offers only, as-is, no interior access" so you don't burn time on retail buyers. Happy to swap notes on what's working — this is a niche I deal with regularly.