Lost Objectivity. Opinions Please.
Hello BP Friends:
I seem to have lost objectivity. Or perhaps I am just getting the jitters. I found a deal. A house worth $150,000, selling for $115,000 but it needs $20,000 in repairs. It meets my criteria of location, construction quality, etc. Terms are good. If I buy it for $115,000, put in $20,000, I will be in to it for $135,000 and it will be worth $150,000. I am a buy and hold investor. It will cash flow. Opinions? Would you take this deal? It feels classic Millionaire Real Estate Investor formula but now that I am staring it in the face, I am having indecision. Thanks.