Updated over 8 years ago on . Most recent reply
First Investment Property
Hey everybody, I have been looking for a multifamily now for several months. My area has been pretty competitive lately. A duplex just came on the market that actually looks like a decent investment. Numbers as follows
235,000$ listing price
2,300$ Income per month (1,150 per unit)
Tenants pay heat & electricity
203$ per month in cash flow after every expense I can think of
13% return on my money w/ 5% down (I plan on occupying the property for just 1 year)
The property just came on the market 36 hours ago and currently has 10 showings in the next 3 days. I am pretty sure it will go for asking price or even higher. I need some advise/input on what I should do to get this property or if you think its worth it. I have had some analysis paralysis over making my first investment property decision and I thought posting in the forums to get experienced insight might help kick my *** in gear!