Duplex deal.. thoughts?

2 Replies

So I have been avidly searching for deals this week. Found one earlier which I already posted and just found another that was listed about 5 hours ago. Its a duplex listed for $32k. It's not in the best part of town, but not the worst either. Based on my knowledge, it should rent at least $615 per each unit. Property does not seem to need any major repairs. At an expense rate of 40% of monthly income, and a 20 year loan with 20% down, it would still cash flow around $542. Seems like a pretty dang good deal to me, am I missing something? 

I was thinking about trying to get it under contract for a wholesale deal. However, I would rather just charge a finders fee. For a wholesale deal, does the property have to have need a rehab? Thanks guys

@Cayman Rigdon I would further verify the location and the achievable market rent, talk to at least 2 reliable property managers.  How good do you know the location, are you based there? 

Check the rules in your state about wholesaling and charging fees. 

NO. the property doesn't have to have a Rehab component in it, but it must be a good deal, and you must know exactly what are you selling, so you don't miss lead the buyers.