I have just over $20k saved up. I found a duplex (seller asking $270k) where one side is rented out for $1,350 and she stared it was through government housing (which I interpreted to mean Section 8).
They lowered it from $300k to $270k. After looking at it, I didn’t know if it was worth that, but I am trying to think if the income made it worthy of a rethinking?
Sorry if this is in the wrong spot, wanting to make money and figured BP is the place to be.
Not enough information. What are all of the other expenses? On the surface it looks like a good deal since in theory it meets 1% rule and that's hard to find in DFW. It's probably not an area you would want to live in though.
I drove it and it was a mixture of duplex and sfh around the duplex. I’d describe it as a likely B- to C area.
And the current owner pays the water because it is unmetered. Do Section 8 tenants mean anything extra is needed?
Is this off Crooked Lane? I walked the property yesterday and it needs a lot of work.