We evicted the tenant and were surprised at what we found upon seeing the house. It was incomplete with trim, hardware and fixtures that were never installed by the builder. (The investor never saw the house.) The investor was promised rent that was $300 above market value and $10,000 in annual appreciation in a neighborhood that wasn’t selling at all. On closer research we found a pattern of sales by this same realtor where she was the listing broker, representing the builder in selling houses and then acting as the property manager. We also learned that the broker had an in-house loan originator who funded the investor's purchases.
We discovered that this same broker regularly entered inflated rental amounts in our local MLS to entice additional investors. We discovered the actual rents through owners who later approached us for help.Follow the links to search the Huntsville AL MLS or request an Automated Huntsville Real Estate Search .
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