What would you do? Should I invest in this property?

[Eunice Villarroel]

I’ve been looking to invest in a dilapidated multi family property that needs a lot of repairs but its in a very excellent area and in a very safe neighborhood. Only problem I notice is that it has a very very very tiny backyard space that’s more of a walkway than a backyard space. Should this be a dealbreaker? Would I have trouble reselling the property later on due to this?

[Winston Covington]

The first 3 rules of real estate investing are…” Location, location and location “.  Your potential purchase has that so my next big concern would be the repairs. Make your offer but give yourself plenty of time to do thorough inspections.  Then find some honest general contractors to review your inspection reports, walk the property and prepare their bids. Be sue to include a strong contingency factor for repairs yet to be discovered.  If you have the funds to cover the repairs and the required down time, then you really need to calculate the income and expenses to make sure that this project is profitable. Good luck.