While I certainly don’t have a large portfolio of investment properties, I am always keeping an eye out for a good deal. I scour the paper, the internet and keep my ear to the ground to listen to all of the chatter. What I am looking for is good value, and sometimes that can take a little patience.
Yesterday I heard about a property with water damage Lincoln Park Michigan. The price was certainly right and I figured it could be a good opportunity to either add a new rental property to my portfolio or it could be a potential flip. But the catch was that I didn’t know the extent of the water damage, so I wanted to see first-hand what I am getting myself into.
Tomorrow I will be heading out to walk around the property and get a feel as to whether or not I should invest. I am going to bring a friend of mine that works at Downriver Cleanup & Restoration to get an expert opinion as to what I should do. I have used their company multiple times on properties that I was looking to flip, and they are my go-to guys when it comes to water problems.
Hopefully the property will checkout and I will have a new property to add to my portfolio.