Updated almost 19 years ago on . Most recent reply
Deal or No Deal?
I have found a fourplex with fire damage. I looked at the property yesterday and it has good bones. Only two units were effected during the blaze. I saw the fire damage renovation report and it will cost $335,000 to repair it.
The woman is trying to sell it for $275,000 but made an offer of $230,000.
The loan is paid off and she has about $275,000 of untouched equity in the property.
It needs a new roof, new wires, and drywall. It could sell easily for $610,000+ after it is repaired.
Its my first deal and I just want to know if it would be worth it to persue it.