Yes, you're being naive. You shouldn't pay a price for something that has a lot of broken parts, unless you're getting a steal on it and you know that's it's going to be worth your time and money to repair it.
$145,000 is a lot of money, even if it's not a lot of money for a house to some people. Things like mold, roofs, and foundations are things that can make $145,000 out of your pocket turn into $200,000 or more out of your pocket and you still have a house that's worth only $145,000. Repeat to yourself: I don't want to lose money, I don't want to lose money... You're right, roofs are cyclical. Which is why you look to get in on the early part of the cycle. $20,000 for the roof on this house in five years is money that you could be earning interest on for the next 25 years in another house. Mold is about the scariest thing out there. Get it fully tested. Your kids are worth it. Important question: Why is this house at the same price as houses with less square footage? Another important question: Have you looked exhaustively at other houses in the area? I cannot tell you how many times I've heard the story: "We found this house we really liked, but something happened and we didn't get it. Then we found a house we absolutely adore and it came through without a hitch!" Due dilligence is the key here. Write a letter to Bob Bruss (http://www.bobbruss.com/) and tell him what you're thinking, I'm convinced he will write back to you. He did for me. - Matt ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Message: http://www.houseoffusion.com/lists.cfm/link=i:5:191309 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
