need some experienced opinions

3 Replies

Had a walk through on a property and the owner wants 200k will not budge on that, the house has a indoor pool! needs work also the rest of the house needs work. the house needs about 80k in repairs my gut says no deal here but maybe someone with more experience may have some knowledge and or exp. in this situation and can share on what they did and or what they would do

@Anthony Mcnair Can you provide more detail about the deal? Do you know ARV, etc.? Do the numbers pencil out on paper, and is the sticking point some sort of instinctual response that is bugging you?

will say that a pool, indoor or outdoor, in a rental property will scare away 9/10 investors in my experience...

The indoor pool (or any pool..) would be a hard "no" for me for a potential rental property (you didn't say what type of investment you are looking for), and a strong red flag for a flip.

I have a pool in my personal residence so I know first-hand how much work they are to take care of properly, I would never trust a tenant to take care of it. I would consider it for a flip, but with a very large margin because it is still a risk to me. The one circumstance I would consider a pool to be a benefit is if I was planning to use the property as an AirBnB, in which case I would factor in the cost of paying a professional to maintain the pool, as well as contact my insurer to ensure they will cover the liability and at what price.

If you are a new investor, and your gut says no, I think it's worth listening to. New investors rarely have the resources to absorb such risk and anything that could potentially go wrong with something like a pool.