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Updated over 5 years ago on . Most recent reply

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Steven Haughey
  • Real Estate Agent
  • Hagerstown, MD
3
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First investment, possible red flags?

Steven Haughey
  • Real Estate Agent
  • Hagerstown, MD
Posted

Hello!

I've recently walked through a duplex that I have been interested in.

One half is already rented out, which is great because I had been planning on house hacking.

However, I met the tenant and started asking her questions. It turns out she just moved in less than a month ago.

She used terms like "scrounge up money", she lives with her son who has about.. 4 reptiles I could count.. AND doesn't have/wasnt required to have renters insurance.

Is this too risky? Or can I still save this?

Thanks!

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
7,601
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6,631
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

Reptiles are in cages, they are probably better than 99 percent of the pets someone can have. Sure, "scrounging up money" would definitely be an alert for me, I wouldn't say that it not consequential, but if only those things you mentioned I would do more due diligence. I would be more worried if the owner told you they were long-term renters and then you found out they just moved in, that would worry me about the owner's truth and financials.

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