Help please. Looking at 4 unit multi family now!!

[Trenell Brown]

Hello, I wanted to see if someone in the area of Hampton roads or close by would like to offer some insight On their first rental property purchase

[Will Carbonell]

Going through my first one right now. It may not close but it has been a fantastic learning experience. It's a FHA 203K, and the seller is selling as-is and is not willing to make any repairs. Just had HUD inspections and termite inspections done this week. Estimated repairs are 37k. A few Class A contractors are saying it is not going to take that much to get it rentable. I sent a offer to lower the price down by 25k due to the estimated repairs done by the inspections. A lesson learned is to not send the reduction in price if you are wanting to walk away. I may lose my earnest money if they do not reject or counter. Either way this has been a great experience and it only makes all of us better to get out of that 9-5 job. Hit me up if you have any questions!