All Forum Posts by: Alex Christian

Others have given good advice. But remember that while a project like this will always have risk. You don't get the reward without taking some risk. You can always renegotiate in your DD. Assuming you write the offer that way

Are you saying wait for a storm in hopes insurance will cover the new roof?

if it is in that bad of shape I would venture to say at best insurance would prorate. 

Wouldn't it be beneficial to pay for an hour of your cpa s time so they can guide you on how to categorize these things?

You are best case scenario going to be into a 400k property for 400k. After all the headache you would be better off to buy something turn key and rent it out tomorrow. 

you are taking a risk when you do a big reno like this. Especially if you haven't done one before. The idea is to get something for your time and effort. Typically a 20-30% discount on the property after it's all said and done. This deal sounds like a lot of risk and headache. But no reward.  I would suggest you do some more research on the formulas posted above.

good luck!

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