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Tom Server
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117
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Blind purchase of a duplex

Tom Server
Posted

Would you ever put an offer on a property with out looking at it if it cashed flowed $1400 a months ? 

Here is the situation, the property would cash flow about 1400 a month.. tenants are not letting anyone view the property. I was thinking of putting in an offer since it cash flows,(low offer) and during attorney review allow my self an out with any bad findings of the home inspection or the tenants records of payments not caught up ?  I know I'm taking a gamble of with ordering a home inspection and then tenants not opening doors.. but i feel tenants are probably annoyed with different people coming to see their homes.. but if planning a few weeks notice to let them know of a home owner inspection.. they might cooperate ?  Thoughts?

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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied

See what I mean about reduced competition? At least two posters said they wouldn’t even look at the deal. That’s what makes these a win. You eliminate anyone who wants a reason not to put in an offer. If the property was $30k more and cash flowed only a $1,000 instead of $1,200 suddenly they be interested if they could see the inside. You’re being paid to be an investor. Nobody expects you to close without seeing the inside and making an offer costs nothing. 

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