Reply to “DO NOT DISTURB TENANTS”…what’s up with this listing?

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Reply to "“DO NOT DISTURB TENANTS”…what’s up with this listing?"

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[quote=Anonymous][quote=Anonymous]it seems risky to buy a house (despite being sight unseen) and then have to wait a year to be able to do anything with it.  If you borrowed money to buy it I'm guessing the interest and taxes would exceed what the rent is considering the condition of the house.  And you couldn't even get into the house to measure or start planning for a reno/ remodel.  The only thing that would make sense if it was a teardown - the plans for a building permit could be started right after closing and be ready for when the tenant moves out.  I'd love to know more details about this listing![/quote]

There is a good chance that the buyer will have to evict the tenant. I think there are flippers who specialize in these kinds of property who will have no problem buying it sight unseen because the price assumes no appreciation since 2006. There is money to be made on this property even if it requires a total gut job, it's just going to have to be someone with experience getting rid of tenants [/quote]

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