All Forum Posts by: Andrew Syrios

This is certainly not our niche nor something I would be very excited to do. I would definitely be very cautious about renting to any sex offenders in properties with other tenants. If one of them does something to a woman or child there (or nearby, it doesn't necessarily need to be your property), you could definitely be sued. Whether you lose depends, but even if not, do you want that on your conscious? 

Further, if word gets out you're renting to sex offenders, expect your place to empty out. There are some who are in this niche, like these guys: https://www.paroleapprovedhomes.org/ But they look very professional and like they have their legal ducks all in order. That would extremely important for something like this. And I would absolutely want to stay away from any rent by the room idea. 

Welcome aboard and good luck investing!

Welcome to BiggerPockets Aaron and good luck investing!

It's generally fairly hard to convince someone to lend you a private loan if you have no experience investing. The only exception are parents, relatives and close friends (i.e. angel investors).

Best bet is to build some experience by house hacking (FHA loans allow for buying up to a fourplex, as long as you live there, with only 3.5% down). Then when you can show some success and a portfolio of experience, it's much easier to convince people to loan to you.

Welcome to BiggerPockets David and good luck investing!

Welcome to BiggerPockets Jocelyn and good luck investing!

Often the listing agreement will say something like "buyer to verify." But the disclosures usually have something about "are there any rooms with no ventilation." If they marked "no," that would definitely appear to be a misrepresentation. Of course, I'm no attorney so you should consult with one.

But before gping nuclear on them, I would just address to them and assume it was a mistake. "Hey, I know that we waived our contingencies but it has just come to our attention that 300 sq. ft. of space is actually unfinished basement and is unventilated despite the disclosures saying there is no unventilated space. I know these kinds of mistakes happen, but can we just make this right and adjust the price according?" or something like that.

Welcome aboard Jason!

Welcome to BiggerPockets Britt and best of luck investing!

Welcome to BiggerPockets and good luck investing Jim!