A $175K property for $60K, would you buy it?

[Valerie Lopez]

If you had an opportunity to get a property for $60k that current tax assessment is $175K and once renovations are completed could be worth over $200K because of the area:

Would you buy it? 

If it would completely deplete your reserves, should you buy it and why?

What would be your next steps?

[Anthony Simboli]

@Valerie Lopez I think there are a lot of questions to ask if it's worth it or not. Questions I would consider:

1. What is my risk tolerance?

2. Do I have a team prepared to do the work? Am I doing the work myself, if so how long will it take?

3. If a team will do the rehab, what are the estimates?

4. Why is it priced so low now? Are there opportunities to investigate further to get the right set of eyes on it (electrical/structural/plumbing/engineering etc.)

5. If putting all of my money into one investment, what is the opportunity cost of not being able to invest in other properties for X number of months or years?