1st Investment Property in Amarillo, TX

[Pedro Preciado]

Hello,

I am currently under contract in a 2 bedroom 1 bath house for $44,000. This property is going to be a rental property, however, I just completed the home inspection and it seems like everything is wrong. The property is going to need a lot of electrical and plumbing work, in addition, some walls are bubbly so I will have to check for any leaks. Should I just call off this deal? I appreciate any advise or personal experience. Thanks  

[Scott R.]

Do you have ties to Amarillo? Have you seen this house? Why invest here? Was this on the MLS?

I've sold several houses in both the areas mentioned above and all but 1 was below your $44k

One was 3/2 and only $40k

Most had wall heaters or central furnaces only, the one that was higher, $50k actually had central air as well.