First MFH Deal - What should I be asking
Hello all,
I live in Northern California but am investing in South Carolina. I'm looking at a MFH for my very first investment property - a duplex and a single family unit are on one property. They're asking $115,000 for all.
My realtor is showing my dad the place for me on Sunday. I have no idea if there's any work that needs to be done but I'm assuming there will be.
The two units in the duplex are currently rented at $500/each ($1000 total) and a tenant is moving into the SFH on the property at the end of the month and will be paying $700/month.
At first glance (without knowing the extent of any updates/repairs that the properties may need) this seems like a good deal.
What questions should my dad be asking or what should he be on the lookout for during the walkthrough on Sunday? and should I pay a GC to go as well?
Thanks,
Mason
Most Popular Reply
This is strictly an opinion. If you are the one buying the property for your investment then you need to be the one in person looking at the deal. I trust my dad more than anyone on earth. But my deals are my deals and if something goes wrong there is nobody to blame but myself. If you can't make it to South Carolina on short notice then maybe you should reconsider investing there. If this is your first deal maybe you should consider investing locally first. Again, just my personal opinion that I learned thus far.