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Updated over 6 years ago on . Most recent reply

Account Closed
  • Detroit, MI
1
Votes |
7
Posts

Is this a good deal?

Account Closed
  • Detroit, MI
Posted

Hi everyone!

I’m new to this forum but I started listening to eBooks and BiggerPockets podcasts. I want to ensure the deals below are in fact, good deals since this will be my first investment. I can’t seem to understand the 50% rule if I decided to put only 5% down or if I do the 1% rule. I want to ensure I don’t do the wrong thing  

Deal 1: Duplex selling at 150k in a stable community with rentals bringing in 750-800 a month per unit. Each unit is two bed and one bath with updated kitchen. Overall property is well maintained. 

 Deal 2: single family bungalow in a very hot area for 220k. Master suite upstairs and each bedroom can rent for 700 each and master can probably get 850. 

Can you guys help me understand if these are good deals? Not sure when it’s good to put 5% or 20%. I have enough to do both but I also want cash on hand. 

Thank you!

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