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Updated about 9 years ago,

User Stats

152
Posts
52
Votes
Dominic Lucarelli
  • Irwin, PA
52
Votes |
152
Posts

Help! Need advice on my potential first deal..

Dominic Lucarelli
  • Irwin, PA
Posted

Looking at buying an old Post Office next to my parent's house as my very first investment. Listed as a commercial property with a small store front and duplex in the rear. Currently both units are rented, but the store front is vacant. List Price is $59,000 and I know it's going to need a new roof very soon (est. $6000) and concrete work outside (est $2000). Rents in the area are between $500 and $600/unit. It's a D building in a D neighborhood, but the entry price seems right on. Haven't seen the inside yet, but I'm trying to evaluate if it's worth looking at since it's listed as commercial.

What kind of hurdles can I expect with this since it's listed as Commercial property? Am I missing something obvious?

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