First Property: Pompano Beach FL

[Juan Carlos Castillo]

I really want to buy a duplex in my local market (South Florida), but think that might be a little out of my price range for my first property. I have been previously pre-approved for $185k and have paid over $20k in debts since then. 

I managed to stumble across a Duplex (4/2) off-market for $175k in Pompano Beach, but its kind of in the hood and needs a good amount of repairs. The owner says its a lot of cosmetics, but only has one picture of the exterior and already you can see it needs all new sod and entirely new driveways. When I try to look up comps, I get a wide range of numbers but mostly over $200k. I found one website that says it values the house at $230k, but can't seem to pull it up on the property appraiser.

What steps should I take to make sure this is a good deal? Should I hire an appraiser/inspector/real estate agent or could that dig into my profits?

[Bob B.]

@Juan

@Juan Carlos Castillo you can fix the property but not the location.  I'd stay away from the hood and look in a better area.  Be patient,  you'll find something.