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Updated almost 4 years ago,
Newbie investor looking for advice
Good afternoon BP,
I am new investor and I recently sent out a direct mail campaign that I've gotten some results from. I am currently talking with a potential seller about a property she has with some specific requests that need to be met and I'd like to know your thoughts/opinions on it. The home is a 2/1 1000sf in Warsaw, VA.
First off there is a tenant in place that she wants to be kept there because the tenant is old/diabetic. The seller wants to be assured that the rent stays at 450/mo for the current tenant as long as she lives there.
Secondly the property shares a well with the property next door and there is no legal agreement in place as far as the well goes.
Kind of an oddball situation to me but I figured I’d get some feed back from the BP community and see if I can make something of the property. I can provide more details but didn’t want the initial post to be too long winded. Thanks everyone!