Seller's Market? Bite or not?
Hey All,
I currently pay $1600 in rent for my 1BR apartment. I don't want to shell out money to someone else for rent anymore. I was looking into multifamily's, either a duplex or triplex, but there are so few properties that meet the 1% rule and even fewer that are built after 1910. "Don't buy a house that's as old as your grandfather."
I have the opportunity to purchase a duplex property built in 1990 for $400k that would net maybe $1.8k, $3.0-3.3k if you counted the unit I would be living in. This is the first house I've seen in 7 months that is younger than 70 years old (I'm not exaggerating). Should I bite?