Roaches and mice and TERMITES Oh my!!!

[Elford Stephens]

We recently put a  7 unit apartment building under contract.  During the inspection we saw evidence of mice, roaches, and active termite infection in the basement under the floor.   

 We are new to investing.   We need some guidance.  If you have experience with termite infestation in a investment property please share your advise.  

Should we run away?

[Nathan Gesner]

I assume this is during your inspection phase? Your contract should allow you to ask for repairs or otherwise negotiate changes to the contract. I would request the Seller have the entire property inspected and treated by an agreed-upon pest control company at their expense and that they provide you evidence of completion.

Pests need food and water sources. In my experience, they tend to congregate around messy people. Be sure you're not buying bad tenants.