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Updated about 6 years ago on . Most recent reply

Account Closed
  • Washington, D.C.
9
Votes |
36
Posts

I want to buy a building but.......

Account Closed
  • Washington, D.C.
Posted

What are some reasons why you wouldn't purchase a building?  Over time, I found many outlying factors that would turn investors away, however, in the back of my mind, I still consider this thought often; someone is going to buy it eventually, so why pass it up.  Even if there's a lot of work to be put in, someone somewhere is going to have to "bite the bullet" and do it eventually so why wait? I know the logical answer but I would love to hear people's thoughts or past experiences!

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Mike McCarthy
  • Investor
  • Philadelphia, PA
1,849
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Mike McCarthy
  • Investor
  • Philadelphia, PA
Replied

@Kanica Gooden it needs to make financial and logistical sense for YOU.

There are a lot of people who make great money in C/D class neighborhood and war zones, but that is NOT for me.

There are lots of people who make good money flipping fire damaged properties. I could probably do it, but I don’t have the contractors that I trust in my back pocket, so it probably wouldn’t work out great for me.

I find properties that work for me and my situation and I make good money with them - but I look at some of the posts here and couldn’t imagine dipping my toe in that pool at all! It’s not that they are bad, they are just bad for me.

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