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Updated about 6 years ago on . Most recent reply

User Stats

59
Posts
15
Votes
Juan Carlos Castillo
  • Specialist
15
Votes |
59
Posts

First Property: Pompano Beach FL

Juan Carlos Castillo
  • Specialist
Posted

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) for $175k in Pompano Beach, but its kind of in the hood and needs a good amount of repairs. The ad 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?

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