to buy or not to buy

Hi everyone I wanted some opinions regarding buying my 1st rental that I currently have under contract. So property was listed for 120k for a 4plex . I offered 110k they accepted. Had it inspected and property needs 25k of work roof and sewer line need replacing. Agent rewrote contract to ask items to be fixed they countered with a sell price of 105k. Agent said how we do deal is write contract for 120k giving 15k for repairs. Taking care of the major issues and deferring others till we can pay for it through rents. I am really unsure if I should do deal or not it's my 1st my wife doesn't like the idea thinking were in over our head we have to pay 25% down since it's a multifamily. She wants the deal for 100 giving us 20

Comments

  • Sorry I entered that b4 I was done giving us 20k for repairs so we are only out of pocket 5k. But it still leaves the down payment at 30k which wasn't ok with us to begin with which is why we offered 110k. Anybody else have a suggestion cuz im about to cancel this contract it's only leaving us with about 5k left in our bank which I know might be alot better than most when they bought their 1st rental.
  • Most lenders will not let you get 20k back at closing. You only have $5k?
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