WE FOUND A PROPERTY AND NEED HELP!

[Will Flores]

Hey BP Fam,

My friend and I found this property in a great location, awesome neighborhood only a few minutes from NYC, close to local eateries, parks and transportation to neighboring towns. The rentals around the area go from 1600 - 2000. and properties around the area go from 325K to 350K. 

Its a 4/2 Multifamily home, with a basement and backyard. 

The property is under foreclosure and its up for bids to the best offer. Its listed at $175,000 at the moment. We took a look at the property and it definitely needs work, the walls need a rehab everywhere, kitchen on both floors need a rehab and so does the basement. 

We plan on occupying the home and living in the basement and renting out both the 1st and 2nd floor.

We are trying to figure out how much it would cost for a rehab and if it will be worth to take on. We also don't know how much we should bid for. 

Anything you guys can help us with, will be greatly appreciated !

[John Cohen]

@Will Flores find a good contractor, there is not much help I can give you having not seen the property. If you want to live in the house it should allow you to be more competitive then just trying to flip it.