Buying a Landlocked Rental

[Justin NA]

Hi
I am looking for my first rental property. I have an agent and hes

looking at 3 family houses in an old New England mill city. He found a

good house for a good price. But the house is set back behind two

houses. There is a walk way from the street to the house. I have always

been in houses with street frontage so im not sure what to think. The

house and price are good but is being behind an other house an issue?

I'm just thinking of any issues with tenants or landlords since they

have to pass through the other property. Would that effect rents? My

agent dosent seem to think its a problem but i am looking for a second

opinion. Have any of you ever bought a land locked house and what were

you experiences with it? .

[Allan Smith]

I'm dealing with a landlocked purchase for the first time right now, closing this coming Thursday.

It's certainly not desirable to have a house behind other houses. It's a house that would never sell for a premium. But you really need to make sure you have an easement on the deed of whichever neighboring property gives you access to the house. Everything is fine and dandy until the property owner decides they don't want to let anyone drive through their property anymore and now the tenant has to commute to work in a helicopter =D

Make sure you don't buy the property without having easement paperwork drawn up and signed first. The closing attorney can do this. You'll likely need a survey as well, and the surveyor can do that. Most surveyors are 4+ weeks out, so it will likely delay closing.