An interesting dilemma...need some advice.

[Joe M.]

Hello BP community!

People always told me once you get started in investing deals will eventually start to come your way w/o solicitation.

Well I have such a situation. One of my sub contractors has a house he wants to unload an approached me about buying it.

I've looked at the house and what he is offering is a good deal.....a really good deal. Of course I still need to do my due dilligence on it but if it checks out I have a decision to make.

My problem is I'm currently right at the beginning of doing a rehab on another house. I have funds to buy the contractor offered house but it would be cutting it close to immediately start the rehab. To say nothing of the fact that it would probably finish around the beginning of Dec. which would be an aweful time to try to rent it.

My thought is I could buy it now, secure it, then hold off on rehab until the first of the year. My concerns are having a property sit vacant for that long is just a magnet for vandals, and also I'm not sure my insurance company would like it vacant that long.

What would you guys do in this situation? Would you pass on it or would you buy it and hold on until funds are available for rehab? Or perhaps there is a third option I've not considered?