Re: Purchasing leased property


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Posted by Christine Baker on July 25, 1997 at 12:53:49:

In Reply to: Re: Purchasing leased property posted by Reader on July 25, 1997 at 12:45:50:

Posted by Christine Baker on June 23, 1997 at 23:03:24:

In Reply to: Re: Purchasing leased property posted by Reader on June 23, 1997 at 14:58:31:

Much appreciate your kind words. Had no idea you're just down the road, I'm in San Bruno. It's tough out there for first-time buyers, especially this year.

I've had a lot of Clients like you, know what you're looking for, the extra rental income always sounds so appealing. You'll be much better off in the long run buying a single family home with an (illegal) in-law unit. You shouldn't pay extra for the illegal unit, the appraiser won't count it. Once you make enough money to not have to rent out anymore, you can start using that space yourself. I've never known anyone who couldn't use it :)

I hope you can find a good agent who is willing to aggressively write offers, that's what it takes. And you got to have your loan in place.

A lot of buyers are going to drop out of the market soon, and there will be opportunities. You and/or your agent just have to find them.

Good luck, don't give up!

Christine



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