@Jay De Jesus Welcome to BP and congrats on taking action. A quad is an awesome place to start but there are many other things to consider besides what you mentioned. One thing I would definitely look at is the rent roll and leases for the current tenants. What do the rents look like in your area and how much are the current owners getting? Don't just listen to what they say ask to see actual bank statements or rent rolls and see what they are truly bringing in the bank every month. Really make sure to get the foundation, roof, and plumbing inspected. These should be must's regardless of the situation but especially because of what happened in the past you want to make 200% sure the problem was truly fixed. Trust your gut, don't do the deal just for the sake of doing a deal. Sometimes the best deals are the ones you say no to! Good luck!
@Michael Guzik , thanks I'll make sure to look into that before submitting and offer..if it even gets that far.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing