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Updated over 5 years ago on . Most recent reply

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18
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David Casas
  • Union, NJ
2
Votes |
18
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I found a potential BRRR but owner won’t let anyone inside

David Casas
  • Union, NJ
Posted

I found a property that meets the 1% rule for renting, and I wanted to take a look at the inside to estimate how much rehab needs to be done. The problem is that this is what it says in the listing:

SHORT SALE!! tenants are present!!, (ONLY.SIGHT UN-SEEN) DRIVE BY ONLY. DO NOT GO ON PROPERTY, IT WILL BE TRESPASSING!

I spoke with my real estate agent who said that they are not allowing any showings, and it may be a sensitive subject.

I was wondering, have any of you faced this kind of situation before? Is there any way to tour the property before putting in an offer? It is a dream BRRR situation in a good neighborhood, so I don't want to let this slip away. Do the owners have to allow showings inevitably and I just need to wait until it gets to that point? Will the short sale go to auction and I can then bid there? Or should I figure out a way to contact the owners and ask if I can walk the property and see if we can come to an agreement? What is the process of a short sale?

What are my options in this scenario?

Thanks!

David

  • David Casas
  • Most Popular Reply

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    Ron S.#3 Foreclosures Contributor
    • Paradise, CA
    871
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    Ron S.#3 Foreclosures Contributor
    • Paradise, CA
    Replied
    Originally posted by @Nicholas Clement:

    @David Casas Hey, I always say screw it and go to the property. I knock on the door tell them I’m going to buy it and ask them what is the cost going to be for them to move. Usually you get to peek inside. The pricing on the property is the least of your issues once the property isn’t vacant.

    Yeah...not sure i'd follow this advice.  

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