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Updated about 11 years ago,

User Stats

462
Posts
199
Votes
Brit Foshee
  • Investor
  • Fort Myers, FL
199
Votes |
462
Posts

Two properties on the same street

Brit Foshee
  • Investor
  • Fort Myers, FL
Posted

I currently own a property on a street with about 35 other homes on it and I have the opportunity to purchase by owner another one a few houses down. This street is unique in the sense that it sort of "stands alone" as it's own neighbor and therefore values are highly correlated to the sales of others on the street.

These homes rarely go on sale. With that being said is there anything illegal about purchasing the by owner and then re-listing both homes at higher prices tags to sort of create a new market value for the area ? Lets say they're arbitrarily worth $100,000 a piece but I list them both for $130,000.

Is this legal and does anyone have any experience doing it ?

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