Updated over 6 years ago on . Most recent reply
Termite issue/ deal analyze
I am looking to make an offer on duplex in northern CA. asking price 150K (recently dropped 50k after inspection) previous buyer had inspection done. Main concern is termite and I have report and estimate cost to fix the issues. The inspection company estimated about 25k to eradicate the termite issue and repairs. I will spend another 15-20k to update few things. Currently rented 650 each side but I can easily rent 800+ each side or sell around 225-230. will not qualify for loan, so I am thinking hard money and fix it in couple months and refinance with conventional mortgage. I have not dealt with termite issues. Anybody have any ideas or thoughts on this deal.