First buy help or advice

[Brian Heaver]

Hey everyone hope this reaches everybody well, I am under contract on my 1st property for 58000 it's a not a state investment.

However in the inspection report there's a sagging ceiling, A Crooked support beam in the basementIs sagging porch impossibly meeting a new roof...Among other small little things

The house is probably worth 63000 so so I'm buying it below market market value.

But I am very nervous about structural stuff I'm wondering if anybody has any advice if I should go through with this property or find a better 1st property that doesn't cash flow as high or coc as high.

My cash flows 450 cash on cash return about 10 and a 1/2 percent

[Matt Dingus]

One beginner to another.... Probably not the best deal for your first one especially if you're not comfortable with structural issues. Could be a huge headache and leave you with a bad taste for investing in this asset class afterwards. If you feel it's too good of a deal to pass up then get a structural engineer (or someone who has dealt with these issues in the past) in there to give you their thoughts to maybe calm your worries. Otherwise be patient and wait for the opportunity you feel good about.