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Updated over 8 years ago,

User Stats

6
Posts
3
Votes
Hunter Thompson
  • South Portland, ME
3
Votes |
6
Posts

New, looking for advice on analyzing.

Hunter Thompson
  • South Portland, ME
Posted

I found a property in the Portland Me area that is about $200,000. This is about $70,000 under other houses in the area. The house already has two people renting for about $1920 a month, but the owner has some weird setup. He pays 1/2 the heat and water and sewage for the upstairs tenet, and heat sewer and water for the downstairs tenet. No electricity included for either. What makes me worried is the roof is about 20 years old and there is a a noted crack in the foundation. I'm assuming on average a cracked foundation might cost me about $6,000 and a new roof at some point about $5-6,000. This all said, the return still seems decent. I am very concerned though with a cracked foundation. Can anyone here with previous experience lend me some advice?  It seems like tainted fruit. :)

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