Needs updating do you buy it.

[Jon Sirkin]

I am looking at a property, 69,900

2 unit 2 /1.5 rents 725 1/1 over a garage rents for 525.

Says units need updating.

It would cash flow around 600 a month.

At what point is updating both units to expansive. The 2/1 is top of the market here, maybe 600 for the 1/1.

Would this be a deal if you need to update kitchen and bath etc, that would set you back a few couple of years. Just thoughts I know in 2 years gain equity.

Something to jump on?

[Greg Scully]

@Jon Sirkin: If you're at the top of the market for rents, why would it need updating?  For a value add scenario it's good see a return of your rehab capital within 2-3 years.