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Updated about 2 years ago on . Most recent reply
Fourplex with issues! Buy or pass? HELP!
Hello BP members! I need help! First time buyer. Fourplex for sale in Brazoria Texas. Long story short: unsure if I should stay away or if it's a good deal! VA foreclosed- listed at 127.5K. 2 2 bed 1 bath. 2 1 bed 1 bath + living room. All units have washer dryer connections, fridge, stove. Window AC units. 2 separate stand alone buildings. One seems to have termite issues and the other probably needs a new roof.
See images of issues here:https://ibb.co/stv6jxm https://ibb.co/jLL8KV8 https://ibb.co/M1NxVVd https://ibb.co/sH4P5BT https://ibb.co/MPkTtsJ https://ibb.co/tsGy06N https://ibb.co/TmFGk0K https://ibb.co/175gmS9 https://ibb.co/CnH5T6d
HAR LISTING: https://www.har.com/homedetail...
your thoughts are truly appreciated! Thank you!
Most Popular Reply
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
Seems like they’re giving it away. But unless you have at least a spare $50k for repairs/make ready and payments until then, I would try to partner with someone who. A) has that kind of cash, and B) has experience with major renovations/repairs/etc. (Unless you also have both. But then I would guess you wouldn’t be asking…)
pS. Is is all said by someone who has no idea what Brazoria is or where it is. I find it hard to believe you couldn’t get $600/mo for an apartment in most areas. But I also know where you can rent an entire farm home for much less than that.