Submitted my first offer!
Today I submitted my first offer!
The property is a Duplex posted on the MLS for $235k (I'm willing to pay full price although i did submit the offer for $220k to see if they'll bite).
Both units are 2bd 1bth and are occupied.
- Unit A $1100
- Unit B $1187
Total $2287/mo or $27,444/yr
Expenses listed are:
- Insurance $670
- Water sewer $1500
- New taxes 2820
Total $4990/yr
Estimated Mortgage
- $1500/mo
$27444 - $22990 = (cashflow) $4454/yr
So in other words...
WISH ME LUCK!
This would be a great 1st investment. As long as I’m not missing anything.