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All Forum Posts by: Nick Choruby

Nick Choruby has started 1 posts and replied 1 times.

Post: Cash Rent, No Evidence - Red Flag?

Nick ChorubyPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 1
  • Votes 0

Seller has 7 single family homes and wants 100k each. He claims the rents are all $1000 a month, but has never used leases, collects cash only, and won’t provide bank deposit statements or any form of evidence. Won’t show properties or provide any additional info until under contract.

I would be buying these strictly for cash flow, so no plans to replace current tenants if the rents hold true.

What are some options here to protect myself?