Updated almost 7 years ago on . Most recent reply
First post / "s*** happens"
Hey y'all. Just upgraded to pro as I'm analyzing some properties that my partner and I and looking at.
We are looking to move into a duplex or smaller multifamily property. We are looking at one now that is pretty distressed. An old upset tenant or worker has smeared human excrement on the wall in the foyer room. It is really smelly. Other than that the house is mostly just dusty, dirty, lots of debris, needs new appliances. The foundation, framing and bones of the building are good. Just looking for some advice and if this sounds like we should stay away completely? There a total of 3 units potential. Duplex with 4br and 2 br . And a detached studio/2 br
Personally I see a lot of potential once renovated and value to add here but this is our first rental property investment .
We are preparing to do a full renovation of 3200 sqft in total between the 3 units
Most Popular Reply
@Alex Bayer smells like a deal to me.
The biggest wins in RE come from solving problem properties like the one you're describing. There's usually a ton of upside if most people don't want to touch it.