ANOTHER OOS investor got ripped off

[Bob Stevens]

Well just as the post indicates, this investor was taken advantage of.  Also, I have posted many times, do not do business without a trusted team. So yesterday I spoke with an investor that purchased a so called 100% renovated and turnkey property in GH. Well, the AC unit is about 30 years old, its shot. The electric furnace is about the same age also shot.  Now if he paid a good price ok so eat it your still " in the money" Well, he was charge 160k about 50k Overpriced. All they did was cosmetic and patched the roof. On top of all this the rent is only 1300. should be at least 1700. 

If your OOS you must have a trusted team in place, no matter where you do business. 

Good luck to all 

[Bob Stevens]

Quote from @Bailey Coleman:

I believe some of the responsibility does fall on the OOS investor. Doing your due diligence is important. Why couldn't they run comps on the property instead of paying 50k over asking. Or verified everything with a realtor or even ordering an appraisal 

 Lesson learned,