I’m looking at a bank foreclosure single family home tomorrow. Before looking at it, seems to be a good deal but it does have a flea infestation that the realtor warned me about. I am willing to deal with this issue, it doesn’t really scare me, but I guess I’m not exactly sure how difficult it will be to take care of this problem. I guess I see why this property is not selling! This property is definitely a fixer up.
It's listed at $56,900, down from $65,900. So a significant price drop indicating motivated seller. Needing approx $30,00 worth of repair with a conservative ARV of $120,000. Would rent for 11-12 hundred.
How much should the fleas affect my decision to buy? How much should this discount the property?
This is also my first investment property.