Updated over 11 years ago on . Most recent reply
THE THREESOME IN THE HOOD!!!
Catchy title huh? Lol, you're nasty.. Just joking...
But anyways, back to business.
I recently found someone that is selling 3 properties for 10k. The properties would require a major facelift and they aren't quite in the nicest neighborhood either (not quite in the warzone, but you can walk there pretty quickly). Two are two bed, one bath, and the other is a small duplex(guessing 2 BD 1 BH). I've emailed the seller and told him that I wanted to speak with him on the phone, but I honestly have no clue what to ask.
I'm assuming that everything is free and clear, but I'm more focused on if I should even worry about the properties because of the location. It would be a super amazing buy for someone who deals with Section 8 housing, but I just don't know...
Any advice or questions are welcome and greatly appreciated!
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#4 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Chaz.
Go to the properties. Evaluate what needs to be done to them to make them ready to go. Add that price plus the acquisition cost. Is it lower then area comps? Or is it higher?
After you do tthis you will know what you will want to do.