Should i buy this property????

[Jalil Carter]

Hello fellow investors! We have a triplex under contract with seller financing. Our monthly payment will be $600. The property has a 1 3 bedroom apartment, 1 2 Bedroom apartment, and an efficiency apartment. The 2 bedroom needs the smallest amount of work ($400) and would be rented first as its the easiest and cheapest to get finished and that unit would bring in $600. The other two units will require more extensive renovations. We aren't in the position to make the first $600 payment to take over the property at this moment but we don't want to lose the deal. Ideally we would purchase the property, make the repairs to the middle unit first, get it rented, and work on the other 2 units as we get more capital. What do you suggest???

[Jacob A.]

Jalil, 

Seems like this deal is a solid deal if you can get the other units rented! The one thing I will caution you with is this, if you are struggling to make the $600 payment, you might want to evaluate if you are really in a position to be investing. I am by no means trying to be negative, but the truth to real estate is that you will need *some* money especially if you are saying renovations will be required.