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Updated about 5 years ago on . Most recent reply
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First investment, possible red flags?
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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- Real Estate Consultant
- Mendham, NJ
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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.
- Jonathan Greene
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