jonze, let’s just say you owe me one. =) yes, the PM from xxxxx xxxxx and friends didn’t know about the ales nor the impending foreclosures. However, the owner nor his attorney contacted him at all. 2 weeks after we moved in, as we search thru ziprealty, we found our rental home on sale along with 2 other in the same neighborhood for sale by the same agent. We called the PM right away and the guy mentioned you. He said there’s a renter that was moving in to one of those homes within the next two weeks and he’s going to give you a call and let you know.
powayseller is right, there are a bunch of these guys out there. that PM told me there’s actually a guy that’s negative cash flow $5000/month on his investment property. These guys you almost rented from are negative $2000/month on all 7 properties for a grand total of -$14,000/month, or -$168,000 in one year. But no worries, real estate only goes up, everyone wants to live in SD, and they are not making any more land.
