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If you're in the real estate business long enough you will probably run across some shady stuff. In Show 25, Emily and Kirk share a recent story about how they were under contract on a property that was rented to more individuals than was allowed. As a result, they had to decide whether to continue on in the process of buying the property or back out because it was breaking the local zoning ordinances.
With this experience, Emily and Kirk thought it valuable to share for newbie investors to think about when buying rentals. Do your due diligence in researching the properties and local ordinances for how many individuals are allowed to be renting the property. A little extra work in the beginning can save you many headaches and potentially a lot of money in the future.
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What You'll Learn...
What are zoning ordinances and why do they exist
How we went under contract on a property that was breaking the law
The importance of doing due diligence research on potential properties and local laws
How ethics play into real estate investing
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