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Updated almost 5 years ago on . Most recent reply

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52
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12
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Felix D Menendez Jr
  • Investor
  • Lawrence, MA
12
Votes |
52
Posts

Squatter need advice

Felix D Menendez Jr
  • Investor
  • Lawrence, MA
Posted

I'm interested in a property with some serious potential.

Sellers agent says there has been a couple offers in the last 60 contingent on the home being 100% vacant.

Seller knows I wanted the property 100% occupied. ( I know some of you are against this )

I found out there's an attached bedroom and bathroom only with seperate entrance being rented out on a handshake agreement on the second floor.

Unit 1&2 are month to month and half unit 3 on a handshake agreement.

The property comes on a pretty nice lot with 10 car detached garages included with the sale.

I've met the couple in unit 1 they seem like a nice couple that I wouldn't mind keeping. I didn't get to meet unit 2 or mystery unit 3 occupants because they were not home when I went by. I'm told I could come back in the evening to meet/see unit 2. All numbers run in the rental analysis work not counting the 10 car garage or mystery unit 3 as I did not know about it when I ran the numbers.

So even more of a return potentially.

I get a message saying the seller knows my concerns and if I have a number that will take those concerns away. Now it's no coincidence I got this message soon after the eviction announcement today I assume.

My agent says to add that bedroom and bath as part of unit 2 just knock down a wall.

If half unit 3 is not legally permitted to be there can I legally rent it as part of the house. Let me clearify I'm not 100% sure it's illegal but it's just a bed and full bath.

If I send an low offer and it gets accepted will a management company handle evictions if necessary?

What should I ask the seller specific to unit 3 (my only main concern).

Home is sold as is seller is a 75 year old elderly woman and has own the house for decades and doesn't want to go through the process to deliver the home vacant ( I'm ok with this to an extent).

Thanks in advance for any feedback I should add this will be my potential first rental property.

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