Updated over 4 years ago on . Most recent reply
Inspection turned up some concerns, what next?
So I am a few deals deep and this will be my fourth long-distance deal. I knew going into this deal that it is in the roughest shape of all my properties but I also believe that it has the most opportunity for value add.
I just don't know where to draw the line, I already have it locked for a good price and will be asking the max seller credit for closing. I just have no one to bounce this off of and don't know whether to abandon the deal or proceed knowing there will be a significant amount of issues in the future.
Most Popular Reply
Inspection results are basically two categories. 1. This property has issues that will make you bail out as they're serious and not easily remedied. 2. Property has issues that can be easily remedied with the appropriate amount of funds. If it's number one, you bail. If it's number two you analyze the property to the extent necessary to determine if it can be a profitable deal.