Updated over 7 years ago on . Most recent reply
Advice on a potential deal in Long Beach
I am about to close on a deal and need some advice. These are the numbers:
Duplex in LB
Cost: $550,000
Repairs: $40,000
Total: $590,000
Down: $118,000 (20%)
Monthly mortgage + utilites, taxes, vacancy rate, etc: $3,300.00
Monthly total rent: $3,600.00
Cash flow: $300.00
Caprate: 4.9%
The property is in a Class B neighborhood. 2 Detached buildings on a lot. Would you do it? Having a difficult time figuring out if its worth the investment and money down. Thank you for your time and input!