Skip to content
Multi-Family and Apartment Investing

User Stats

34
Posts
2
Votes
Devon Daniels
  • Dothan, AL
2
Votes |
34
Posts

Should I buy this property?

Devon Daniels
  • Dothan, AL
Posted Feb 17 2012, 02:13

I found a duplex forclosure for $19500. Its about 100 yards from a housing project but the area isnt bad( esp compared to other housing projects in the city).One unit is not ready to rent and but both will need some work. From my rent estimate from similar properties closr to it I assume I will get around $550-650 rent. My mortgage @ 30yrs depending on the rate and downpayment will be $80-120. My cap will be over 50% if both units rent. This is my first attempt at buying an investment property , so should I make the move?

Loading replies...