A property popped up on the MLS that I'm interested in, but I'm seeing what I think is a red flag. In the past 15 years, it has sold 7 times, not counting 2 foreclosures. It's a duplex in Minneapolis, so easily rentable.
Would this be a red flag to you? Anyone have a guess as to why so many sales may have happened?
Where are you seeing the past sales info and are you sure it's accurate? Websites like Zillow and even county records will sometimes show a "sale" anytime title transfers or for other reasons. It could be
1. An Actual Sale
2. Individual transferring into LLC
3. Co-owners, one passes away
4. Owner refinances
5. Owner takes out a HELOC
That's a really good point, thanks. I was looking on Zillow and Redfin, both showing the sales. I'll see if the county website has any more information.
I echo Geoffrey's comment about checking with the county. I can't remember ever seeing a property that was sold 7 times in 14 years.
Why would you care if it sold that many times? If you like the place and you like the neighborhood, put an end to the insanity and stabilize the poor place.
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