Real Estate Agent · Biloxi, MS · Member since 2020 · 28 posts · 22 votes
Hi BP Community,
I think I found a good duplex to purchase for house hacking that works number wise. This will be my first investment so I am trying to make sure it goes well to set me up for future investments. I discovered that the current owner has numerous complaints filed against him from tenants and it paints a vivid picture of him being a slumlord(numerous of post are saying don't do business with this guy!). One of the units appear to be in decent shape but the other unit needs some work. I don't want to purchase something and find out months down the rode that it has a ton of problems that were never disclosed and covered up.
Would you buy a property from a previous bad owner?
Rental Property Investor · Modesto/Stockton/Merced, CA · Member since 2020 · 456 posts · 214 votes
5y
YEs! this can be a great opportunity to buy at a discount! just make sure to get an inspection to give you an idea of current maintenance issue and possible future ones.
Real Estate Agent · Memphis, TN · Member since 2019 · 261 posts · 253 votes
5y
As long as you're getting slumlord property pricing, then sure, why not? Unless you plan to continue the trend, then it should end up being a much better property worth much more than you paid!
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
5y
@Jeromy Jordan YES , however you are not ready and should not buy it UNLESS you have an experienced team around you, again do not di it , you are not ready