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Updated over 4 years ago,
First Rental Pursuit , the representing agent seems to be missing
Hello BP,
Been searching for a deal and I came across something that seems very promising. The description makes it seem like this property is broken into 4 units and 1 office unit. As of now its been sitting on the market for 140+ days, from the only two photos that are online its looks like it will need a lot of rehabs. Yes only two photos and a vague description, so you might wonder why I'm so interested.
This property interests me because at the moment in this one area its the only rental that seems to be for sale. It's in a good neighborhood in a decent size town, right next to a library and the properties around seem to have been remodeled and updated. The medium for rent in this area is $1300 and each unit seems to have its own water meter so I'm sure the tenets pay for utilities. I would plan to live in one unit most likely the office space and manage the property while I live there for the first two years.
As of now, the problem is the Agent representing the property has not returned my calls or emails, and also for and FHA203k I'm short on the down payment. I've pulled the deed and it seems to be in a trust. I believe this property would be amazing as a first rental, the perks would be me living there and learning how to manage the property. Because I will be a Veteran I won't have to pay property taxes according to the law of the State of Maryland.
Has anyone else come across the problem of a missing realtor?
Would anyone suggest that I try to contact the trust?
Any suggestions on finding a deal?