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Updated over 10 years ago on . Most recent reply
Buying an Semi Attached Multi Unit but attached to abandoned/condemned building
Hi, I'm looking at a 3-unit house in Philadelphia for about 175k (Corner property with two houses attached). The photos look decent and livable and I want to take a trip down there to visit. Rents would go for about $700/mo so the numbers make sense, but on google maps it looks like the two houses its attached to are abandoned/boarded up. One looks like it has a huge 2 ft hole punched right through it like if a wrecking ball slammed into it. Not too mention almost all the windows broken out.
Do anyone have any advice or experience to share about such opportunities? I'm afraid I buy this house and no one rents it bc its attached to two abandoned homes. Or do I try to buy the other two for cheap fix it up with a larger bank loan and rent them all out.
Any advice would be super appreciated! Thanks!!
Phil
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Wouldn't this be like marrying a 5 times divorced woman whose both Mom and Daughter are in prison?
You think your experience will be good?
Old Chinese saying: "Marry in haste. Repent in leisure."