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All Forum Posts by: Cameron DePaola

Cameron DePaola has started 4 posts and replied 11 times.

Multi-Family and Apartment Investing

Post: Looking for Advice on Purchasing Two-Unit

Cameron DePaolaPosted
  • Real Estate Agent
  • Milford, ME
  • Posts 12
  • Votes 3

I am new to the world of real estate purchasing and investing and am looking for advice on purchasing a bank-owned property. It is a two-unit apartment house listed at $79,900 and the bank is offering to finance the property as well as $30,000 in repair money. The repair money is accurate in what it needs to fix up to be rentable. The structure is very solid with updated wiring, windows, and water heaters. It will need a new heat system and roof which is included in the repair money. I am wondering how to figure out a good purchase price so it will be profitable to rent or sell. Any advice would be greatly appreciated.

0 Votes