I live in a duplex in San Clemente, CA and last week a Notice to Enter was left on our door. On it, it says the owners will have an inspection and appraisal done in two weeks.
I have been analyzing small multi units in town and intend to invest in one soon. Ideally I would stay here if the numbers look good and house hack it but also open to wholesaling it.
Having the knowledge that the house might go on the market soon, what is the best way to approach the situation...? Be present for the appraisal and ask questions? Talk to the owners/property management company? What are some good questions to ask. (I am a noob)
Also, what is the best strategy for raising funds on a small mutil family? Hard Money then BRRRR? Conventional Loan? House hack (3.5% down) or would it be wise to bring this to a cash buyer and wholesale it? Where would I start in that scenario too?
Any and all advice welcome.
It sounds like it already has an offer on it and is in mid sale if an inspection and appraisal are already scheduled.
I was thinking they might be refinancing.
Either way… op should get in touch with the pm or owner, express their interest and see if an agreement can be made in my opinion.
@Dean Klein Can they do that and sell the house legally without giving us, the tenants, a heads up?
Yes the house can sell with the tenants in place, the existing leases simply remain in place and you would pay the new owner rent going forward. The fact that it isn't actively listed and that they already scheduled an appraisal to me says they are refinancing, and there is probably not a pending sale.
The owner may just be refinancing. High priced properties in South OC aren’t going to cash flow as a rental. You would be buying for appreciation.