Updated over 10 years ago on .
Pride of ownership?
Being new to the real estate investment world, I have a question for the seasoned rental property investors on bigger pockets. I have looked at several duplexes in my area and what I am finding is that I can get a duplex for as low as 45-50k that will bring in rents of 450-550 per side. Or, I can buy a duplex for 70-80k with rents of 600-700 per side. With the actual numbers I have run they all generally have cap rates between 9.5 and 10.
I have been really leaning toward the more expensive buildings because as you can guess they are in much nicer shape, more updated and I would be much happier showing units like that to prospective tenants. Obviously with the less expensive units I could buy more, quicker....but probably pay a more for maintenance. Thoughts from the group?