Possible Brrr but with on going trespassers living in

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Possible Brrr but with on going trespassers living in

Luciana W.
Rental Property Investor · Savannah, GA · Member since 2019 · 66 posts · 30 votes

Hi BPeople,

I’m looking into buying a possible Brrr property, a triplex on a C+ neighborhood that is up and coming.

The property has been empty for a wile and there is a current person that keeps braking in one of the units.

I believe the problem will go away with better locks, and tenant in place, I’m just not sure if I should be dealing with this type of nuances

Also, my contractor walked the property with me and told me that the total renovation will take about 10month to complete, which I’m not sure if is reasonable or not, but in this mean time the units will continue to be vacant.

What would you do?

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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
6y

10 months to renovate? I see a couple reasons:

1. You're naive and the contractor is taking you for a ride;

2. The contractor doesn't know what he's talking about;

3. This place is a huge disaster that's not worth the time and trouble.

You know who takes ten months to renovate a home? This Old House. They're usually spending a half million or more on top-to-bottom renovation with top-dollar finishes, all while filming a TV show.

The DIY Landlord Book4.7248 Reviews
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  • Bjorn AhlbladPro Member
    Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
    6y

    @Luciana W. This would not work for me...........just too much risk.

    2Reply
  • Luciana W.
    OP
    Rental Property Investor · Savannah, GA · Member since 2019 · 66 posts · 30 votes
    6y

    @Bjorn Ahlblad

    Thanks for the honest replay!

    0Reply
  • Jeff Willis
    CA & NV · Member since 2019 · 215 posts · 378 votes
    6y

    I would pass. From experience, the problem won't easily go away. Locks only keep honest people honest. 

    0Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    6y

    10 months to renovate? I see a couple reasons:

    1. You're naive and the contractor is taking you for a ride;

    2. The contractor doesn't know what he's talking about;

    3. This place is a huge disaster that's not worth the time and trouble.

    You know who takes ten months to renovate a home? This Old House. They're usually spending a half million or more on top-to-bottom renovation with top-dollar finishes, all while filming a TV show.

    The DIY Landlord Book4.7248 Reviews
    WebsiteView Page
    3Reply
  • Brent Paul
    Rental Property Investor · Shakopee, MN · Member since 2015 · 985 posts · 374 votes
    6y

    Too risky for me.  Unless extra precautions are taken you will likely have bigger set backs than that.  I could see someone breaking windows and stealing things inside.  This has happened to others I know in similar situations.  They will keep trying until they know they can't get in.  10 months isn't out of line if every unit is totally trashed.

    1Reply
  • Luciana W.
    OP
    Rental Property Investor · Savannah, GA · Member since 2019 · 66 posts · 30 votes
    6y

    Thanks everyone for knowledge,

    I am taking your, unanimous advice and not taking this deal... back to the drawing board!!!

    0Reply
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