Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

12
Posts
1
Votes
Chris Lombardi
  • Jersey City, NJ
1
Votes |
12
Posts

Steal too good to be true?

Chris Lombardi
  • Jersey City, NJ
Posted

I'd like to get some advice to see what anyone would do in my situation and if they would be cautious of red flags.

So I'm currently in business with my dad.  50-50 arrangement, we own 1 property  so far and all has been going great.  We've been looking to expand recently and he found a wild deal.

Place is a 1 bedroom condo, in a great area and seller is desperate.  It's listed for 210K, my dad offered 75K and got accepted.  He took a look around and said it needed a bit of work, but nothing more that 10-15 thousand.   I said I still would like to get an inspector in, but he doesn't want to as he's closer to the person selling and fears that adding complexity to the deal would make the seller back out.  I feel like this is unnecessary risk and there's no reason to not get a $300 inspection.  If the seller really did back out because of an inspection, that's seems like a big red flag and they may be hiding something.  On the otherside, if the place is really worth 210K, there's not many problems I could think of that would make 75K a bad deal.

Am I making too big a deal of this?

Loading replies...