Rental Property Investor · Manchester, NH · Member since 2017 · 59 posts · 23 votes
Hi all. An interesting topic. I have been seeing a lot of well priced multifamilies on mls coming from one particular seller. I got curious, so a quick search of the name came up with 10+ articles talking about how this person was fined over 100,000 for various violations. Also a lawsuit. Then more about how neighbors complain that he has run the area down owning 80+ rentals and allowing apparently a lot of criminals to be his tenants... There is one article that even quotes the mayor complaining about him... for a while i was pumped about the low prices, thought maybe he was someone just looking to move up/consolidate but now... lol. Any advice or suggestions?
Good opportunity for someone with the knowhow to do a turn around investment. Buy below market, kick out 80% of the tennats and screen for higher quality.
Good opportunity for someone with the knowhow to do a turn around investment. Buy below market, kick out 80% of the tennats and screen for higher quality.
Im thinking along those same lines.... i think. Wondering if there is something i should watch out for
Sounds like the tenants will be tough to get rid of if they're a lot of criminals. That shouldn't stop you, just something to look out for. I'm sure he has some decent tenants, when/if you look at the houses, make note of any tenants that seem decent and try to buy those houses.