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Updated over 8 years ago on . Most recent reply

User Stats

21
Posts
3
Votes
Gary Schmalz
  • Rental Property Investor
  • Rogers, MN
3
Votes |
21
Posts

Move forward or Not?

Gary Schmalz
  • Rental Property Investor
  • Rogers, MN
Posted

Hey All,  just looking for some advice.  Partner and I made offer on quadplex, and they took offer.  $168k.  Inspection came in, great air conditioning, great roof, great structure.  Needs new parking lot.  $5K?  Some electrical $3k,  Gutters  $3k.  New windows and siding will need to be done in next 5 years.  $10k?   Garage has some sort of fungus growing in it, but not mold.   Everything else was marginal to acceptable.  

Calculator still gives us cash flow, but the extra costs make us hold our breath, and wonder "what is next?"   Don't have a lot of cash on hand, not rich people, just trying to make our way through real estate.  Buy and holds.  We are not rookies, but not experts either.  

Thought we would toss this info out there for your advice.

We have 24hrs left to respond to the after inspection.

Just kind of stuck on this one.  Thoughts?  Questions?

Thanks in advance.  

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