NEW 50 YEAR ROOF!

Please let me know what you think.Property SummaryForeclosure3BR, 2BA, 2190 sq ft2 acre lot$65k asking priceARV of $165k (possible), most likely $150kNo garageSlabVinyl sidingWell & SepticProperty is owned by HUDLed based paint noticeRepairs NeededSpot replacement of vinyl sidingFlooring throughoutBathroom remodelsKitchen cabinets are good, but need to be paintedPossibly roof replacementFacia board replacement all aroundGoodHouse has a bonus room, which can be converted to a 4th bedroom.Windows are goodFlat lot, big lotBuilt in 2005, so pretty structurally soundRisks/ConcernsPossible HVAC replacementHas a well.

I also got a request from a local someone who had a water leak, and they needed lodging while the repairs were being done. 

I started from bottom to top of aloped flat roof.

One roof not covered by insurance sets you back 2-3 years. 

It's a newer home that was built in 2018 so hopefully it will be a while until I'd have to replace those big CapEx items like roof, HVAC unit etc.

Be sure and carefully review the financials and make sure the HOA is putting enough money aside in reserves for larger capital expenses, ie: roofs, paving, painting, etc.

Some improvements were completed when we first purchased with intent to rent (new roof, etc) some improvements in 2015 when we were going to move in (new kitchen, updated bath) and misc improvements as needed during last 8 years.

A reasonably priced company for sewer in our area is Leak Free Plumbing (Aram).

The expenses will be the second consideration.The conditions of the roof and systems will foretell if capital improvements will be needed in the near future.