Landlords, share your opinions: would you proceed to buy this SF

I have a SFH short sale approved, just did the inspection yesterday. I already know that the carpet may need replacement, house needs painting, and base molding missing. But the inspection found out roof needs to be replaced, crawlspace has insulation/heating ducts issues, the siding has some dry-rot, and one window got fogs. I was told the repair cost is 10-15k. The house approved at 152k, and is >15k below market. The typical market price for the similar short sale house (built in 90s) will be around 170k.

The rental is around $1500. So if ignoring the repairs, it is still positive cash flow.

I will ask the bank to reduce the price, but doubt the bank will accept it. If bank will not drop the price, would you still proceed to buy?

所有跟帖： 

• I will as long as it is positive cash flow and there is no bette -古石- ♂ (0 bytes) () 03/21/2012 postreply 21:41:31

• I will buy. One time fix is ok due to good cash flow -SunshineInCA- ♀ (0 bytes) () 03/21/2012 postreply 21:47:32

• The whole roof needs to be replaced? -凤城- ♀ (317 bytes) () 03/21/2012 postreply 23:47:12

• I would buy it as u mentioned other short sale is around 170k. -小心翼翼的小地主- ♀ (0 bytes) () 03/22/2012 postreply 04:47:08

• Appreciate all the opinions -Tea-Rose- ♀ (107 bytes) () 03/22/2012 postreply 09:12:06

• location??? -planotx- ♂ (149 bytes) () 03/22/2012 postreply 09:48:22

• It is not CA/DFW, but OR -Tea-Rose- ♀ (52 bytes) () 03/22/2012 postreply 10:21:38

• no。这还算short sale吗。。。 -老黄牛888- ♂ (0 bytes) () 03/22/2012 postreply 10:23:36

• If you are cash-rich and has plenty of time, buy. Otherwise, buy -nova01- ♀ (0 bytes) () 03/22/2012 postreply 12:32:55