Investor · Green Bay, WI · Member since 2016 · 16 posts · 9 votes
Hi BP
So I'm looking at a potential deal in my area. The property is in a great area, is currently vacant and bank owned. I highly doubt they will accept the offer but want to know the community's advise on this one:
ARV: 130,000 Asking: 85,000 Offer: 60,000
I went out today to have a look and noticed it's in desperate need of a roof, Windows and siding. My guessing is that alone will probably be close to 20k if not more and thats before we even get inside where I estimate another 5-10k is needed. I guess my question is would you buy something with that much to do?
For me it would depend on the return. For that much work I would want a little more of a return than normal. Also time of year would be a factor for me. Doing that in the winter no thanks I will look for another deal.