Updated about 12 years ago on . Most recent reply
No Roof Rental
Ok ladies and gents, this is my first post here and I came here to get other investors opinions. I have been given an opportunity by a fellow investor I just met to by a place from him that he has had in his position for a year now. The terms seem great he is willing to sale it to me for 5000, BUT the place has no roof and it has been sitting like that for over a year. It is in baltimore and the fair market rent value for the area is 1200. What do you think?
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#4 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
You need to provide more information for your deal to be effectivly analized.
5k purchase price. What are the repair costs to get this thing up and running?
If it will be 40k to get it fixed up your all in for 45k. If the comparables are 60k then you got yourself a good deal. If the comparables are 30k you got yourself a dog.