Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

1
Posts
0
Votes
Jake Michaels
0
Votes |
1
Posts

What are your opinions on this duplex?

Jake Michaels
Posted

This is on long island. I'll be ready to buy a duplex to live in/rent in about 5 months. Until then, I'm just researching and trying to pick out a few good buys for experience. I'm wondering what you think of this one:

https://www.zillow.com/homedetails/7-Reed-Dr-Deer-Park-NY-11729/32620876_zpid/

With 5% down mortgage + tax would be around $3,300. I could rent the larger portion for $2500 compared to comps. This leaves me with a deficit of $800. My current apartment is $1500 a month so having to pay $800 seems great. Even if everything goes wrong it would still be less expensive than my rent as well as something I keep.

I figure in 2 years or so I would move out and rent the smaller portion as well.

I'm just making sure the Math + my logic follows. I'd rather make stupid mistakes on something I'm not actually buying. What do you think?

Loading replies...