Updated about 5 years ago on . Most recent reply
First time investor looking for help!
I am looking for strategies to evaluate the financial stability of a duplex I am currently looking at. Owner is interested in owner financing which we are going to talk about exact terms of in a week. They want at least $125,000 for it. The longest it has been vacant was for 2 months during the rehab. The units are as follows:
2 Bedroom and 1 Bathroom currently renting at $750 a month
1 Bedroom and 1 Bathroom currently renting at $550 a month
Tenants pay all utilities except for gas. Has a community laundry room. Was renovated in 2009
As someone brand new to real estate investing I'm trying to decide whether this is something worth investing in. I understand without the financing terms this will be hard to give advice for but am just looking for ideas.
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@Joshua Hackathorn It fits the 1% rule, if that is something you follow. How much would it cash flow every month?