Updated almost 7 years ago on . Most recent reply
duplex trouble
I bought a duplex about a year ago in the downtown area of Montgomery, Alabama for $25,000. The tenets were extremely rough, cannibalizing anything of value in the property. It was next door to a single family home I owned and wanted to protect my investment so I bought it. It needs $85,000 in rehab and I know I can get $650 a month from each side. I have another duplex down the street valued at $110,000.
Are the margins too tight here? I'll be flipping the single family next to the duplex shortly, so I'm debating whether I should hold on to the duplex or sell it to another investor