About to get my first duplex! What should I do.

[Timothy Winfield]

Hello BP Nation, I'm contemplating buying a duplex. What should be my initial questions be? Should I ask why they are selling it? Should I raise the rents as soon as I get it? Should I ask for an operations expense sheet? What should I do to get the price lower from asking price.

[Jay Dean]

If the. It's is $900 per month it won't cash flow what you say it will. You haven't accounted for any expenses. Be conservative in estimating expenses BEFORE you buy. There is a lot more to this than collecting rent and making a mortgage payment.