My family owns an apartment building in an affluent neighborhood in the Bay area. Due to family infighting/embezzlement a judge has ordered everyone named on the title sell the property. It is not distressed but could use upgrading, I am not on the title but feel it would be best to buy the property myself vs selling to outside parties for future passive income. Thoughts?
It depends: are you trying to save a family-owned property or is this going to be a good investment at a good price for you. Also, think about the after effect it may potentially have on your family dynamics. If it implies that you may lose touch with some of your family members because of you buying this property, think again if that's what you want.
@Nicholas Lui - If you're objectively looking at it as an investment than your knowledge of the building can be an advantage. If you're driven by emotion because of the familial history I would use caution.