Should I buy or not (Student Housing)

[Jonah Xu]

Hi everyone from BP,

Here is the description of the house:

Bungalow

235k, I will need to assume his mortgage (219k)

13 rooms (I can add maybe 2-4 rooms)

42k revenue (I can boost it to 46-50k)

This house has all the permit and everything to run that many room. And I will technically pay approximetely 16k to be able to buy the house. But here is my dilenma, the house is sold without legal garanty and the inspection has been done and we found out that there is many renovation to be done. There is water infiltration in 4 spot and then all the bathroom need to be redone due to mold and bad maintenance. There is also mold in between the roof.

The 2 side of the brick walls is falling due to the nails inside is too old. I believe there might be probleme that the inspector could not have seen.

So the question would be if this could be a good enough investment for me to invest.

Looking forward to hear from you guys! :)