Is this a good deal?

4 Replies

Ok so I have a guy email me some properties . He want 6k for it ...it needs to be cleaned out but it's free and clear... It this good enough to flip I have others he emailed me to in pa...

Shamokin, PA 17872

DUPLEX, 2 units, side by side

Each side has 3 bedrooms and 1 full bath

Living room, dining room, kitchen, 1st floor laundry

Off street parking

needs clean out

Last house on the block, private setting, beautiful views

Dre, take my opinion with a grain of salt as I have no idea about that part of the country but for 6K it seems like there are possibilities!  Look into the following:

  

What would the value be after fixing it up?

What are the repair costs?

What is the neighborhood like?  Safe or unsafe?

Are there currently other properties on the market in the area?  What are they selling for and how long on the market?

Could you wholesale the deal?  Hold and rent?

Do you have the ability to inspect it before locking it in?  There are always possibilities of major structural damage.

How do you know it is free and clear from other lens or possible tax liens?

There have been a few posts lately about buying super cheap properties and why they can be a horrible deal.  Ben leybovich I believe would have some input.  

Haha - I'm not saying a thing :)

Originally posted by @Dre Couch :

Why not Ben Leybovich ?

Dre - because I don't think that anyone has ever written more on the subject than I have. Search articles and posts on BP, as well as at my website. I don't think I've left any stones un-turned...:)

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