Does this sounds sketchy to you?

[Terry Dunlap]

I recently bought a SFR from this company that also is managing the property for me. They know I'm an out-of-state investor. However, I grew up in the area and we know many of the same people.

I asked for his help in looking into some SFR on my radar. A text over the weekend said he's working on a 6-unit deal "exclusively" for me. He would contact me with details. Here are those details from his email

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Terry,

This is the one I was talking about that has been all redone. Just a money maker

 415 Huron Avenue #1 Rent $525 monthly Security deposit $525; unoccupied

415 Huron Avenue #2 Rent $450 monthly Security deposit $450; occupied

415 Huron Avenue #3 Rent $400 monthly Security deposit $400; occupied

415 Huron Avenue #4 Rent $500 monthly Security deposit $500; occupied

417 Huron Avenue #5 Rent $595 monthly Security deposit $595; occupied

417 Huron Avenue #6 Rent $500 monthly Security deposit $500; occupied

Unit #5 completely redone on the inside, units 4& 6 completely torn off and redone inside and out, new roof, new walls, new floors new cabinets. New and updated furnace and water heater. New roof entire building. New water line to the building. New gas line and meter to the building. New driveway next to building. Storage shed. Tenant in unit #3 cuts grass in summer, shovels snow in winter and rakes leaves in the fall. Also puts the trash to the curb every week and back after trash is picked up. For a reduced rent of $50. Potential income of $2970 per month less expenses. I am working on getting you the expense report. This is to good to pass by for only $149,900.00 with annual income over $35,000 it pays for itself in less than 5 years. This is the one!

Scott

Full disclosure: My Dad owns it. I told him sell it and pay off his house so Mom does not have to move if something happens to him. He agreed. It is not listed.

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A few things I need to mention:

• I can only find one of the properties on the county website (I asked about this... awaiting reply)
• The one I could find was bought by him and his brothers at a Sheriff's Sale then a quitclaim deed to his dad
• I have no pictures other than Google Maps
• I have no financials... yet so I cannot use the tools here to analyze this investment

I may need to find another local realtor to help me run comps as I wouldn't fully trust anything he sends me since he's so deeply intwined.

Am I being paranoid?

Thanks,
Terry