Below the 3 photos are of a property purchased by an International Investor for 30k he was also charged 10k more to renovate and get ready for rental in 2012.
He contacted a Realtor to list it for sale, the Realtor told him that he could only list it for 12k. In June 2013 the owner flew here and had it boarded up.
The owner contacted me to manage or try to sell it. He gave me the phone number of the property manager so I could get keys, my phone calls were never returned. I had a couple wholesalers go check it out but the property is completely destroyed. Everything has been ripped out including the drywall to gain access to the copper wiring.
The investor has over 40k loss to this property and the taxes that are still adding up. This is just one of a few properties I have been contacted about.
Don’t let this happen to you!
If you are thinking about investing outside your area find someone you can trust by referral.
There are so many people getting ripped off by Wholesalers and Property Management Companies. Find out who is being recommended by people in that area.
This past month I was contacted by three separate people 1 from the west coast, 2 from two separate countries, about property they bought here for investment and they have been greatly taken advantage of. The two for other countries their properties are completely destroyed everything has been ripped out and now they are boarded up.
The third is rented but she only received 10% of the collected rent last year. The Property management company told her the rest went for repairs and management fees.
When I contacted the Management Companies they all avoided me because they knew why I was calling and that they were in the wrong.
If you are interested in buying investment property in the Greater Rochester, NY area please feel free to contact me. I will check the property out take photos and do a complete evaluation of the property and potential rental income and rehab cost. I will provide you with a detailed report and opinion if it is worth the purchase or not. I charge between one and two hundred dollars for this service. If you decide to purchase it and hire us to do the renovations if needed or handle the management I will give that fee back as a credit.
I have been rehabbing properties for investors since the early nineties. I am adding a link of recommendations