Duplex in Stillwater Mn worth buying?

[Ryan Hutton]

Hello everyone, I hope your all having a wonderful summer. I'm a firs to me buyer and currently have low credit. I think I'm at 610 right now. Only 2k in debt and about 4K to put down on a multi family of possible. I'm looking at a duplex near where I live, the price is 163k and has a lower and upper unit. No garage and one off road parking spot. Are there any experts that work in Stillwater that would be willing to talk about this duplex? Thank you kindly, Ryan

[John Woodrich]

First things first - do you have a pre-approval letter?  I would get that from a bank first. Your down payment could be eaten up in closing costs then it may be hard to get a loan.... Especially multi-family with lower credit.

Next would be figuring out how much you can rent it for and your expenses to see what kind of cash flow you will have.

I haven't looked in a while but the price sounds good for that area.