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Multi-Family and Apartment Investing
Account Closed
  • Portland, OR
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Need Guidance on a 2 unit Duplex in WA

Account Closed
  • Portland, OR
Posted Jun 20 2017, 16:29
Hello Everyone! I'm new to biggerpockets and I'm here to seek for insights on a deal I'm working on. I'm a first time homeowner and the property is a 2 unit duplex in the state of Washington. I'm going to use all my money for downpayment and closing which leaves me with little reserves (around $500-$1000 the first month). The tenants seems to be late every month and the property will for sure need repairs on carpet and paint once vacant. Cash flow is good though. There's about $200-$300 in cash for reserves every other month. My only concern is...what happens if the tenant is late a month or two?! Then I'm going to have to come up with that chunk in mortgage. Mortgage will be around $2.3k and rent is approximately $2.6k. I'll be paying for water and sewer every other month. What do you all think about this? Any feedbacks or insights is greatly appreciated! Thanks, Lisa

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