We do not want to be a bro investor 💥

[Nicole Cowden]

So, we have private money, we have the lender to cash out refi 10 days after the deeds recorded... Now the questions:

We have a few properties we interested in:

1. Is local to us one unit vacant, one unit severely under rented but the tenant is very cleanly 20yr tenant apartment could be converted to 3 br which is what we would do, update flooring kitchen bath. This seems like a no brainer... However why has this been on the market for better than a year what the heck am missing is how I feel. Other units around it has sold recently. I am an agent I am knowledgeable but I'm not arrogant & seek wisdom... Newer furnace, newer electric separated utilities, SEPTIC tank in an area known for failing systems public sewage is coming it's in the works but looks like several years. If we leave this property as it sits it will cash flow lightly, if we upgrade it will cash flow a little over $300 major repairs roof is going to need done, siding windows & that occupied unit. My only issue is what am I missing, & the septic possible 30k issue down the road... We put in an offer they countered but will not produce lease or terms until under contract super fishy to me. As an agent I have this at time of listing & ask to release to potential serious buyers.

2. A duplex that is under rented needs new roof new AC has old working boiler owned by family that we can do cash or owner finance, however the comps are not there to get a good cash out refi & the bank that is awesome does not service that area ...

After writing this I'm not even sure my question but I am looking for wisdom from pros on both situations.