Hello All,
I am an inspiring investor and I think I've found a deal but I'm not really sure. I had a deal to buy a 2 family house sight unseen for 120k and 130k after closing costs in a nicer part of pittsfield mass. However before I signed the offer I was actually able to go look at the property and found it has a couple issues like bed bugs in the upper unit, a sinking toilet, old furnace and some leaking sewage in the basement as well as all the windows needing to be updated and a couple new doors. However it could be worth 170k-180 if everything was fixed and I think I could get it going as a functional rental property for the purchase price plus another 20k and some blood sweat and tears and maybe could get it reappraised in a year and do a heloc, but I could end up being 160k in when you factor in lost rent and is 10-20k inequity worth the gamble?
idk
what do you think?
