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Updated over 10 years ago,
First investment property. Advice needed.
Hi everybody.
My name is Nikolay.
I am about to buy first investment property.
Triplex, north Philadelphia. Appreciation potential weak but numbers working good. Sales price 136K and rents are 2000. Tenants in place. Leaving me with good cash flow.!!
But I keep thinking of his rule: You make money when you buy. And I just receive an appraisal at exact number of 136K. There are lack of comps in the area.
Should Ignore this rule here and go for solid cash-flow or this report is a good reason to negotiate the price. Which I am not sure possible as seller mention they have back up buyers and also cash buyer who ready to step in.
Thanks all suggestions welcome.