Updated 10 months ago on . Most recent reply
Fully Rented Out Duplex BUT...
Original Listed Price $200k
Currently $179K
Current rent $2250
This property went under contract, but came back on the market. We obtained the inspection report and there are a lot of issues with some being structural. This property was built in 1900. Without making too long of a post, this property seems to be in a favorable area with potential growth over the next 3-5 years. Everything seems great except the condition of the property but currently it is fully rented out.
I am a rookie investor just getting my feet wet. My question is, how do I go about calculating what my offer should be?
Should I pivot and treat this more as a fix and flip?
Should I walk away with the thought of any cashflow I have will probably get wiped out with all the maintain and repairs required from such an old property?
Any advice and feedback is welcomed and appreciated. Thank you all!