Solid area, home just went on the market.

I spoke with a large home buyer in the area and the way they put the numbers together makes sense.

The buyer finally reaches out to say that the bank is having a hard time seasoning a couple of the homes in their portfolio. 

From there, I would start to run numbers on those deals in that area/streets, and then start to connect with local agents/PMs to get an even better feel for pricing on homes along with rents for them. 

I would like to pull out equity from the homes to build either a house on each or an ADU (they are zoned multi-family) depending what makes the most sense on returns and what is feasible.

I am assuming that it is an older home...just feels like a lot of hassle for little to no upside.

The income amounts look to be long-term rental (which they are and came in 30% lower than what the STR average did) and 2. why did the appraiser look at homes 20 miles away to compare to when there are PLENTY of rentals in town...

It’s time to look into home owners/rental insurance.

If you approached them in a way that you had a solution to the eyesore in their neighborhood they would be very receptive to talk and perhaps share contact details about the home owners son if they have them.

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